Howard Capital Management Group LLC Purchases 315 Shares of Salesforce, Inc. (NYSE:CRM)

Howard Capital Management Group LLC lifted its position in Salesforce, Inc. (NYSE:CRM) by 0.3% during the 4th quarter, HoldingsChannel reports. The firm owned 115,060 shares of the CRM provider’s stock after buying an additional 315 shares during the period. Salesforce comprises about 2.6% of Howard Capital Management Group LLC’s investment portfolio, making the stock its 12th biggest position. Howard Capital Management Group LLC’s holdings in Salesforce were worth $38,468,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in CRM. Infrastructure Capital Advisors LLC bought a new position in Salesforce in the 3rd quarter worth about $27,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Salesforce during the second quarter worth about $33,000. Godsey & Gibb Inc. increased its position in shares of Salesforce by 300.0% in 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 raised 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 valued at $38,000 after purchasing an additional 80 shares in the last quarter. Finally, FSA Wealth Management LLC bought a new stake in Salesforce during the third quarter valued at approximately $53,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Stock Performance

Shares of CRM opened at $326.85 on Wednesday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock has a market cap of $312.79 billion, a P/E ratio of 53.76, a P/E/G ratio of 2.93 and a beta of 1.30. The business’s 50 day moving average price is $336.97 and its 200-day moving average price is $292.47. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00.

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

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were issued a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 annualized dividend and a yield of 0.49%. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.

Insider Transactions at Salesforce

In related news, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $343.00, for a total transaction of $2,133,803.00. Following the sale, the chief financial officer now directly owns 53,861 shares of the company’s stock, valued at $18,474,323. This trade represents a 10.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Brian Millham sold 969 shares of the business’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $286.56, for a total value of $277,676.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,172,167 shares of company stock worth $402,223,235. Corporate insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Loop Capital increased their price target on shares of Salesforce from $340.00 to $360.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. UBS Group raised their price target on Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Piper Sandler reaffirmed an “overweight” rating and set a $405.00 price target on shares of Salesforce in a research note on Wednesday, December 18th. Northland Securities reiterated an “outperform” rating and set a $440.00 price objective (up from $400.00) on shares of Salesforce in a research report on Wednesday, December 4th. Finally, Citigroup boosted their target price on Salesforce from $368.00 to $390.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $377.63.

Salesforce 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.