Atlanta Consulting Group Advisors LLC Has $1.57 Million Stock Position in Salesforce, Inc. (NYSE:CRM)

Atlanta Consulting Group Advisors LLC raised its position in Salesforce, Inc. (NYSE:CRM) by 111.6% in the third quarter, HoldingsChannel reports. The fund owned 5,748 shares of the CRM provider’s stock after purchasing an additional 3,032 shares during the quarter. Atlanta Consulting Group Advisors LLC’s holdings in Salesforce were worth $1,573,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital Research Global Investors increased its stake in Salesforce by 26.9% during the 1st quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock valued at $4,329,925,000 after purchasing an additional 3,044,611 shares in the last quarter. Capital International Investors increased its position in shares of Salesforce by 3.0% during the first quarter. Capital International Investors now owns 14,116,449 shares of the CRM provider’s stock worth $4,251,592,000 after acquiring an additional 407,834 shares in the last quarter. Legal & General Group Plc increased its position in shares of Salesforce by 2.2% during the second quarter. Legal & General Group Plc now owns 8,329,687 shares of the CRM provider’s stock worth $2,141,562,000 after acquiring an additional 176,641 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Salesforce by 48.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,906,877 shares of the CRM provider’s stock worth $1,518,658,000 after acquiring an additional 1,922,674 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its position in Salesforce by 25.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,378,826 shares of the CRM provider’s stock valued at $1,125,331,000 after acquiring an additional 877,495 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Needham & Company LLC reissued a “buy” rating and set a $345.00 price objective on shares of Salesforce in a report on Friday, September 20th. Piper Sandler lowered Salesforce from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 10th. Evercore ISI restated an “outperform” rating and set a $300.00 price objective on shares of Salesforce in a research note on Monday, August 26th. Phillip Securities reiterated an “accumulate” rating and issued a $305.00 target price on shares of Salesforce in a research note on Friday, August 30th. Finally, Wells Fargo & Company raised their price target on shares of Salesforce from $275.00 to $330.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 12th. Nine analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $322.51.

Salesforce Stock Down 1.9 %

CRM stock opened at $325.26 on Friday. The stock has a 50-day simple moving average of $286.61 and a two-hundred day simple moving average of $266.62. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $348.86. The firm has a market capitalization of $310.95 billion, a PE ratio of 56.57, a PEG ratio of 2.94 and a beta of 1.29. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, topping 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 business had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same quarter in the prior year, the firm posted $1.63 EPS. Salesforce’s revenue was up 8.5% on a year-over-year basis. On average, equities analysts predict that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s dividend payout ratio is 27.83%.

Insider Buying and Selling

In other Salesforce news, insider Sabastian Niles sold 2,484 shares of Salesforce stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $244.81, for a total transaction of $608,108.04. Following the completion of the sale, the insider now directly owns 828 shares in the company, valued at $202,702.68. The trade was a 75.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Brian Millham sold 60,522 shares of Salesforce stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $300.00, for a total value of $18,156,600.00. The disclosure for this sale can be found here. Insiders sold a total of 144,373 shares of company stock worth $41,250,680 over the last ninety days. 3.20% of the stock is owned by corporate insiders.

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.