Atlanta Consulting Group Advisors LLC Increases Stock Position in Salesforce, Inc. (NYSE:CRM)

Atlanta Consulting Group Advisors LLC increased its position in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 111.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,748 shares of the CRM provider's stock after buying an additional 3,032 shares during the quarter. Atlanta Consulting Group Advisors LLC's holdings in Salesforce were worth $1,573,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in CRM. Piscataqua Savings Bank grew its holdings in shares of Salesforce by 2,400.0% in the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider's stock valued at $26,000 after acquiring an additional 96 shares in the last quarter. Clear Investment Research LLC boosted its holdings in shares of Salesforce by 816.7% in the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider's stock worth $28,000 after acquiring an additional 98 shares during the period. Stephens Consulting LLC boosted its holdings in shares of Salesforce by 3,125.0% in the second 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 period. Strategic Investment Solutions Inc. IL bought a new position in shares of Salesforce in the second quarter worth $33,000. Finally, Godsey & Gibb Inc. boosted its holdings 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 acquiring an additional 90 shares during the period. 80.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Amy E. Weaver sold 897 shares of the business's stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $255,905.13. Following the completion of the transaction, the chief financial officer now directly owns 52,930 shares in the company, valued at $15,100,399.70. The trade was a 1.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Brian Millham sold 60,522 shares of the business's stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $300.00, for a total transaction of $18,156,600.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 144,373 shares of company stock worth $41,250,680. Insiders own 3.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on CRM shares. Sanford C. Bernstein increased their price objective on Salesforce from $234.00 to $236.00 and gave the stock an "outperform" rating in a research report on Thursday, August 29th. Raymond James increased their price objective on Salesforce from $325.00 to $350.00 and gave the stock a "strong-buy" rating in a research report on Thursday, August 29th. Oppenheimer reiterated an "outperform" rating and issued a $330.00 price objective (up previously from $300.00) on shares of Salesforce in a research report on Thursday, October 24th. Truist Financial reiterated a "buy" rating and issued a $315.00 price objective (up previously from $300.00) on shares of Salesforce in a research report on Thursday, September 19th. Finally, Stifel Nicolaus increased their price objective on Salesforce from $320.00 to $350.00 and gave the stock a "buy" rating in a research report on Monday, October 28th. Nine investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $322.51.

Salesforce Trading Down 1.9 %

Shares of NYSE CRM traded down $6.39 during trading hours on Friday, hitting $325.26. The company's stock had a trading volume of 7,093,003 shares, compared to its average volume of 5,164,433. The business has a 50-day simple moving average of $286.61 and a 200-day simple moving average of $266.62. 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 stock has a market cap of $310.95 billion, a price-to-earnings ratio of 56.57, a P/E/G ratio of 2.94 and a beta of 1.29. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $348.86.

Salesforce (NYSE:CRM - Get Free Report) last posted its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.20. The business had revenue of $9.33 billion for the quarter, compared to analysts' expectations of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The business's revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.63 EPS. On average, analysts anticipate that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.49%. Salesforce's payout ratio is 27.83%.

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.