Carr Financial Group Corp Has $1.32 Million Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Carr Financial Group Corp lowered its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 5.7% in the third quarter, Holdings Channel.com reports. The institutional investor owned 4,822 shares of the CRM provider’s stock after selling 291 shares during the period. Carr Financial Group Corp’s holdings in Salesforce were worth $1,320,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. GSG Advisors LLC lifted its stake in Salesforce by 8.7% in the 3rd quarter. GSG Advisors LLC now owns 1,200 shares of the CRM provider’s stock valued at $325,000 after purchasing an additional 96 shares during the last quarter. Essex Savings Bank increased its holdings in shares of Salesforce by 5.2% during the third quarter. Essex Savings Bank now owns 4,551 shares of the CRM provider’s stock worth $1,246,000 after buying an additional 225 shares in the last quarter. Cypress Point Wealth Management LLC lifted its stake in shares of Salesforce by 4.6% in the 3rd quarter. Cypress Point Wealth Management LLC now owns 1,963 shares of the CRM provider’s stock valued at $537,000 after acquiring an additional 87 shares during the last quarter. TCTC Holdings LLC boosted its holdings in shares of Salesforce by 0.4% during the 3rd quarter. TCTC Holdings LLC now owns 102,350 shares of the CRM provider’s stock valued at $28,014,000 after acquiring an additional 397 shares in the last quarter. Finally, Carmel Capital Partners LLC bought a new stake in Salesforce during the 3rd quarter worth $1,133,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Stock Performance

NYSE CRM opened at $321.95 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. The company has a fifty day simple moving average of $277.76 and a 200 day simple moving average of $264.52. Salesforce, Inc. has a 12-month low of $208.84 and a 12-month high of $322.81. The company has a market cap of $307.78 billion, a P/E ratio of 55.99, a PEG ratio of 2.78 and a beta of 1.29.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The firm had revenue of $9.33 billion during the quarter, compared to analysts’ expectations of $9.22 billion. During the same period last year, the company earned $1.63 earnings per share. The business’s revenue was up 8.5% on a year-over-year basis. Sell-side analysts predict that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is presently 27.83%.

Insider Activity

In related news, COO Brian Millham sold 60,522 shares of the company’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $300.00, for a total transaction of $18,156,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, COO Brian Millham sold 60,522 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $300.00, for a total transaction of $18,156,600.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Maynard G. Webb, Jr. sold 9,170 shares of the stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $276.32, for a total transaction of $2,533,854.40. Following the completion of the sale, the director now owns 1,363 shares of the company’s stock, valued at approximately $376,624.16. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 148,573 shares of company stock worth $42,319,874 over the last 90 days. 3.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CRM has been the topic of several research reports. Roth Mkm restated a “buy” rating and set a $335.00 price target on shares of Salesforce in a report on Thursday, August 29th. Robert W. Baird raised their price target on shares of Salesforce from $295.00 to $315.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. BMO Capital Markets boosted their price objective on shares of Salesforce from $265.00 to $305.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Wells Fargo & Company raised their target price on Salesforce from $250.00 to $275.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 29th. Finally, Morgan Stanley upped their price target on Salesforce from $320.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $313.37.

About Salesforce

Salesforce, Inc provides Customer Relationship Management (CRM) technology that brings companies and customers together worldwide. The company's service includes sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale.