Cumberland Partners Ltd lessened its holdings in Salesforce, Inc. (NYSE:CRM - Free Report) by 21.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,100 shares of the CRM provider's stock after selling 3,000 shares during the period. Cumberland Partners Ltd's holdings in Salesforce were worth $3,711,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Private Wealth Partners LLC grew its holdings in shares of Salesforce by 8.3% during the 4th quarter. Private Wealth Partners LLC now owns 15,941 shares of the CRM provider's stock valued at $5,330,000 after purchasing an additional 1,223 shares during the last quarter. Financial Perspectives Inc grew its stake in shares of Salesforce by 46.6% during the fourth quarter. Financial Perspectives Inc now owns 327 shares of the CRM provider's stock worth $109,000 after buying an additional 104 shares during the last quarter. Vista Capital Partners Inc. acquired a new position in shares of Salesforce during the fourth quarter worth $261,000. Pegasus Asset Management Inc. increased its holdings in shares of Salesforce by 0.7% during the fourth quarter. Pegasus Asset Management Inc. now owns 16,164 shares of the CRM provider's stock worth $5,404,000 after buying an additional 109 shares in the last quarter. Finally, Laidlaw Wealth Management LLC lifted its stake in shares of Salesforce by 91.3% in the 4th quarter. Laidlaw Wealth Management LLC now owns 4,403 shares of the CRM provider's stock valued at $1,472,000 after acquiring an additional 2,101 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company's stock.
Salesforce Stock Performance
Shares of CRM stock traded down $10.09 on Friday, hitting $308.34. 4,883,390 shares of the stock were exchanged, compared to its average volume of 6,167,824. The firm's 50 day moving average is $334.23 and its two-hundred day moving average is $304.76. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The firm has a market capitalization of $295.08 billion, a PE ratio of 50.72, a P/E/G ratio of 2.63 and a beta of 1.31.
Salesforce (NYSE:CRM - Get Free Report) last posted its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.03). The business had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. Salesforce's quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.62 EPS. Sell-side analysts expect that Salesforce, Inc. will post 7.46 earnings per share for the current fiscal year.
Salesforce Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.52%. The ex-dividend date was Wednesday, December 18th. Salesforce's dividend payout ratio (DPR) is 26.32%.
Insider Activity at Salesforce
In other Salesforce news, insider Parker Harris sold 942 shares of the firm's stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $339.78, for a total transaction of $320,072.76. Following the sale, the insider now owns 120,333 shares in the company, valued at $40,886,746.74. This trade represents a 0.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Miguel Milano sold 719 shares of the business's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $342.81, for a total transaction of $246,480.39. Following the completion of the sale, the insider now directly owns 4,659 shares of the company's stock, valued at $1,597,151.79. This represents a 13.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,102,833 shares of company stock valued at $381,389,136 over the last three months. 3.20% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
CRM has been the subject of a number of recent research reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $400.00 target price on shares of Salesforce in a report on Thursday, February 6th. Morgan Stanley upped their price target on shares of Salesforce from $330.00 to $405.00 and gave the company an "overweight" rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. boosted their price objective on shares of Salesforce from $340.00 to $380.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 4th. Jefferies Financial Group raised their target price on Salesforce from $400.00 to $425.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. Finally, Scotiabank upped their price target on Salesforce from $425.00 to $440.00 and gave the company a "sector outperform" rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-two have assigned a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $375.53.
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About Salesforce
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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.
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