Syon Capital LLC Raises Stake in Salesforce, Inc. (NYSE:CRM)

Syon Capital LLC increased its stake in shares of Salesforce, Inc. (NYSE:CRM) by 10.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 5,683 shares of the CRM provider’s stock after buying an additional 517 shares during the period. Syon Capital LLC’s holdings in Salesforce were worth $1,495,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Graypoint LLC grew its position in shares of Salesforce by 0.3% during the fourth quarter. Graypoint LLC now owns 10,504 shares of the CRM provider’s stock worth $2,764,000 after purchasing an additional 36 shares in the last quarter. Opes Wealth Management LLC grew its position in shares of Salesforce by 2.9% during the fourth quarter. Opes Wealth Management LLC now owns 1,295 shares of the CRM provider’s stock worth $341,000 after purchasing an additional 37 shares in the last quarter. Prentice Wealth Management LLC grew its position in shares of Salesforce by 1.7% during the fourth quarter. Prentice Wealth Management LLC now owns 2,294 shares of the CRM provider’s stock worth $604,000 after purchasing an additional 38 shares in the last quarter. MV Capital Management Inc. grew its holdings in Salesforce by 3.9% during the 4th quarter. MV Capital Management Inc. now owns 1,045 shares of the CRM provider’s stock valued at $275,000 after buying an additional 39 shares in the last quarter. Finally, Beaumont Asset Management L.L.C. grew its holdings in Salesforce by 0.4% during the 4th quarter. Beaumont Asset Management L.L.C. now owns 8,901 shares of the CRM provider’s stock valued at $2,342,000 after buying an additional 39 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Stock Performance

Shares of CRM stock traded down $3.05 on Thursday, hitting $273.14. The company had a trading volume of 4,802,131 shares, compared to its average volume of 5,686,303. The firm has a market cap of $264.95 billion, a P/E ratio of 64.14, a price-to-earnings-growth ratio of 2.13 and a beta of 1.28. The company has a 50-day moving average price of $296.65 and a 200-day moving average price of $263.37. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a twelve month low of $190.57 and a twelve month high of $318.71.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.06. The business had revenue of $9.29 billion during the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.01 EPS. As a group, equities research analysts predict that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 14th were issued a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.60 dividend on an annualized basis and a yield of 0.59%. Salesforce’s payout ratio is 9.52%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on CRM shares. StockNews.com lowered Salesforce from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 19th. Mizuho reaffirmed a “buy” rating and issued a $345.00 price objective (up from $325.00) on shares of Salesforce in a research note on Thursday, February 29th. Robert W. Baird raised their price objective on Salesforce from $310.00 to $355.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. Oppenheimer raised their price target on Salesforce from $300.00 to $325.00 and gave the stock an “outperform” rating in a research note on Monday, February 12th. Finally, Piper Sandler reissued a “neutral” rating and set a $300.00 price target on shares of Salesforce in a research note on Monday, April 15th. Nine research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $310.61.

Insider Buying and Selling

In related news, CAO Sundeep G. Reddy sold 2,425 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $273.15, for a total value of $662,388.75. Following the completion of the transaction, the chief accounting officer now owns 5,856 shares of the company’s stock, valued at approximately $1,599,566.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Salesforce news, CAO Sundeep G. Reddy sold 2,425 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $273.15, for a total transaction of $662,388.75. Following the completion of the sale, the chief accounting officer now directly owns 5,856 shares in the company, valued at approximately $1,599,566.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Srinivas Tallapragada sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $283.12, for a total value of $2,831,200.00. Following the sale, the insider now owns 60,416 shares of the company’s stock, valued at $17,104,977.92. The disclosure for this sale can be found here. In the last 90 days, insiders sold 616,589 shares of company stock valued at $181,071,306. 3.70% of the stock is owned by company insiders.

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.