Relyea Zuckerberg Hanson LLC Acquires 118 Shares of Salesforce, Inc. (NYSE:CRM)

Relyea Zuckerberg Hanson LLC increased its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 5.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,336 shares of the CRM provider’s stock after buying an additional 118 shares during the quarter. Relyea Zuckerberg Hanson LLC’s holdings in Salesforce were worth $781,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Infrastructure Capital Advisors LLC acquired a new stake in Salesforce in the third quarter valued at approximately $27,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Salesforce during the second quarter valued at about $33,000. Godsey & Gibb Inc. grew its holdings in shares of Salesforce by 300.0% during the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 90 shares during the last quarter. Annapolis Financial Services LLC increased its stake in shares of Salesforce by 135.6% in the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock valued at $38,000 after buying an additional 80 shares during the period. Finally, FSA Wealth Management LLC bought a new position in Salesforce in the 3rd quarter valued at approximately $53,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Trading Up 1.1 %

NYSE CRM traded up $3.39 during trading on Friday, hitting $323.39. 1,161,994 shares of the company’s stock traded hands, compared to its average volume of 4,731,406. The firm has a market cap of $309.49 billion, a P/E ratio of 53.28, a PEG ratio of 2.87 and a beta of 1.30. The stock has a fifty day moving average of $337.05 and a two-hundred day moving average of $290.87. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. During the same quarter in the previous year, the business earned $1.62 earnings per share. Salesforce’s revenue was up 8.3% compared to the same quarter last year. As a group, sell-side analysts expect that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.49%. Salesforce’s dividend payout ratio is currently 26.32%.

Insider Buying and Selling at Salesforce

In related news, CFO Amy E. Weaver sold 897 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $255,905.13. Following the sale, the chief financial officer now directly owns 52,930 shares of the company’s stock, valued at $15,100,399.70. This trade represents a 1.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Sundeep G. Reddy sold 413 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $117,824.77. Following the transaction, the chief accounting officer now directly owns 7,006 shares of the company’s stock, valued at $1,998,741.74. The trade was a 5.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,183,838 shares of company stock valued at $405,595,158 in the last quarter. Company insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CRM. Macquarie reaffirmed a “neutral” rating and set a $370.00 price target on shares of Salesforce in a research note on Wednesday, December 18th. Needham & Company LLC boosted their price target on shares of Salesforce from $375.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Bank of America upped their price target on shares of Salesforce from $390.00 to $440.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. The Goldman Sachs Group boosted their price objective on Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, Royal Bank of Canada raised their target price on Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have issued a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $377.63.

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.