TruWealth Advisors LLC Has $201,000 Holdings in Salesforce, Inc. (NYSE:CRM)

TruWealth Advisors LLC decreased its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 13.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 733 shares of the CRM provider’s stock after selling 115 shares during the quarter. TruWealth Advisors LLC’s holdings in Salesforce were worth $201,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Ruedi Wealth Management Inc. lifted its stake in Salesforce by 186.7% in the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 56 shares during the last quarter. Piscataqua Savings Bank increased its holdings in shares of Salesforce by 2,400.0% during the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after buying an additional 96 shares in the last quarter. Clear Investment Research LLC lifted its stake in shares of Salesforce by 816.7% in the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after acquiring an additional 98 shares during the last quarter. Red Tortoise LLC acquired a new stake in shares of Salesforce during the 1st quarter valued at $33,000. Finally, Stephens Consulting LLC grew its position in Salesforce by 3,125.0% during the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 125 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Salesforce Price Performance

CRM stock opened at $293.07 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. The business has a 50-day simple moving average of $266.65 and a two-hundred day simple moving average of $263.77. The company has a market capitalization of $283.98 billion, a P/E ratio of 52.71, a price-to-earnings-growth ratio of 2.61 and a beta of 1.30. Salesforce, Inc. has a 52-week low of $193.68 and a 52-week high of $318.71.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.20. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The business had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter in the prior year, the company posted $1.63 earnings per share. Salesforce’s revenue was up 8.5% compared to the same quarter last year. Research analysts expect that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is presently 28.78%.

Insiders Place Their Bets

In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total transaction of $105,637.14. Following the transaction, the chief accounting officer now owns 6,431 shares of the company’s stock, valued at $1,644,921.18. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $289.87, for a total value of $1,217,454.00. Following the transaction, the insider now directly owns 118,514 shares of the company’s stock, valued at approximately $34,353,653.18. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Sundeep G. Reddy sold 413 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total transaction of $105,637.14. Following the transaction, the chief accounting officer now owns 6,431 shares of the company’s stock, valued at approximately $1,644,921.18. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 80,612 shares of company stock valued at $21,429,961. Corporate insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

CRM has been the topic of a number of recent research reports. Canaccord Genuity Group lifted their price target on Salesforce from $300.00 to $315.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Loop Capital reiterated a “hold” rating and set a $270.00 target price on shares of Salesforce in a research report on Thursday, September 19th. Wedbush raised their price target on shares of Salesforce from $315.00 to $325.00 and gave the company an “outperform” rating in a research note on Friday, September 27th. Phillip Securities reissued an “accumulate” rating and issued a $305.00 price objective on shares of Salesforce in a research note on Friday, August 30th. Finally, Evercore ISI reaffirmed an “outperform” rating and set a $300.00 target price on shares of Salesforce in a research report on Monday, August 26th. Nine research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $311.66.

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.