Salesforce, Inc. (NYSE:CRM) is Sawyer & Company Inc’s 9th Largest Position

Sawyer & Company Inc grew its stake in shares of Salesforce, Inc. (NYSE:CRM) by 0.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,225 shares of the CRM provider’s stock after purchasing an additional 62 shares during the quarter. Salesforce accounts for 2.4% of Sawyer & Company Inc’s investment portfolio, making the stock its 9th biggest position. Sawyer & Company Inc’s holdings in Salesforce were worth $6,427,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently modified their holdings of CRM. Infrastructure Capital Advisors LLC purchased a new stake in shares of Salesforce during the third quarter worth about $27,000. Strategic Investment Solutions Inc. IL bought a new position in Salesforce during the 2nd quarter valued at $33,000. Godsey & Gibb Inc. increased its position in shares of Salesforce by 300.0% in the 3rd 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 grew its stake in Salesforce by 135.6% in the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock worth $38,000 after purchasing an additional 80 shares in the last quarter. Finally, FSA Wealth Management LLC acquired a new position in shares of Salesforce in the 3rd quarter worth approximately $53,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Truist Financial reaffirmed a “buy” rating and set a $400.00 price objective (up previously from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. Cfra set a $343.00 price target on Salesforce in a research report on Thursday, October 17th. Canaccord Genuity Group boosted their price objective on Salesforce from $315.00 to $415.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. BMO Capital Markets upped their price objective on Salesforce from $385.00 to $425.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Finally, Macquarie reiterated a “neutral” rating and issued a $370.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, thirty have assigned a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and an average target price of $376.05.

Salesforce Price Performance

NYSE CRM opened at $321.01 on Thursday. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The business’s fifty day moving average is $336.76 and its two-hundred day moving average is $290.66. The stock has a market capitalization of $307.21 billion, a P/E ratio of 52.80, a P/E/G ratio of 3.20 and a beta of 1.30. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

Salesforce (NYSE:CRM) last announced its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The company had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period last year, the firm earned $1.62 earnings per share. On average, research analysts forecast that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were given a $0.40 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.50%. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.

Insiders Place Their Bets

In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of the company’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 $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. This represents a 5.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $288.82, for a total transaction of $1,213,044.00. Following the completion of the sale, the insider now owns 118,514 shares of the company’s stock, valued at $34,229,213.48. This trade represents a 3.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,177,617 shares of company stock worth $403,542,975. Corporate insiders own 3.20% of the company’s stock.

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.