Cornell Pochily Investment Advisors Inc. Purchases 70 Shares of Salesforce, Inc. (NYSE:CRM)

Cornell Pochily Investment Advisors Inc. increased its stake in Salesforce, Inc. (NYSE:CRM) by 1.3% during the fourth quarter, Holdings Channel reports. The firm owned 5,622 shares of the CRM provider’s stock after acquiring an additional 70 shares during the period. Cornell Pochily Investment Advisors Inc.’s holdings in Salesforce were worth $1,479,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of CRM. Osterweis Capital Management Inc. increased its stake in Salesforce by 463.1% in the 2nd quarter. Osterweis Capital Management Inc. now owns 3,283 shares of the CRM provider’s stock valued at $694,000 after buying an additional 2,700 shares during the last quarter. Pointe Capital Management LLC boosted its holdings in Salesforce by 370.0% in the second quarter. Pointe Capital Management LLC now owns 1,551 shares of the CRM provider’s stock worth $328,000 after acquiring an additional 1,221 shares in the last quarter. Walkner Condon Financial Advisors LLC raised its stake in shares of Salesforce by 2.9% during the 3rd quarter. Walkner Condon Financial Advisors LLC now owns 2,633 shares of the CRM provider’s stock valued at $534,000 after buying an additional 74 shares during the last quarter. Procyon Advisors LLC increased its position in shares of Salesforce by 72.3% in the third quarter. Procyon Advisors LLC now owns 29,481 shares of the CRM provider’s stock valued at $5,978,000 after buying an additional 12,371 shares in the last quarter. Finally, BlueCrest Capital Management Ltd purchased a new stake in shares of Salesforce in the second quarter valued at approximately $341,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Stock Performance

CRM traded down $0.38 on Thursday, reaching $301.00. 1,160,334 shares of the stock were exchanged, compared to its average volume of 5,701,038. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. Salesforce, Inc. has a fifty-two week low of $187.31 and a fifty-two week high of $318.71. The company’s 50-day moving average price is $293.59 and its 200 day moving average price is $251.75. The firm has a market capitalization of $291.97 billion, a PE ratio of 71.72, a PEG ratio of 2.35 and a beta of 1.28.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.06. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The firm had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same period last year, the firm earned $1.01 EPS. The company’s quarterly revenue was up 10.8% on a year-over-year basis. As a group, sell-side analysts forecast that Salesforce, Inc. will post 7.45 EPS for the current fiscal year.

Salesforce Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.53%. The ex-dividend date is Wednesday, March 13th. Salesforce’s payout ratio is currently 9.52%.

Insider Activity

In other Salesforce news, CAO Sundeep G. Reddy sold 216 shares of the business’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $278.71, for a total value of $60,201.36. Following the sale, the chief accounting officer now owns 2,869 shares of the company’s stock, valued at $799,618.99. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Salesforce news, CAO Sundeep G. Reddy sold 216 shares of the stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $278.71, for a total value of $60,201.36. Following the sale, the chief accounting officer now directly owns 2,869 shares of the company’s stock, valued at approximately $799,618.99. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Brian Millham sold 393 shares of the firm’s stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $280.00, for a total value of $110,040.00. The disclosure for this sale can be found here. Insiders sold a total of 898,507 shares of company stock valued at $255,293,063 in the last 90 days. Company insiders own 3.70% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Evercore ISI lifted their price objective on shares of Salesforce from $290.00 to $330.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Canaccord Genuity Group restated a “buy” rating and issued a $350.00 target price on shares of Salesforce in a report on Thursday, March 7th. Piper Sandler reissued a “neutral” rating and issued a $285.00 target price on shares of Salesforce in a research note on Wednesday, February 28th. Wolfe Research upgraded shares of Salesforce from a “peer perform” rating to an “outperform” rating and set a $315.00 price target on the stock in a research report on Monday, December 18th. Finally, Citigroup lifted their target price on shares of Salesforce from $265.00 to $325.00 and gave the stock a “neutral” rating in a research report on Monday, February 26th. Nine investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and an average target price of $304.32.

Salesforce Company Profile

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.