Hixon Zuercher LLC Has $4.70 Million Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Hixon Zuercher LLC lessened its position in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 5.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,056 shares of the CRM provider's stock after selling 767 shares during the period. Salesforce comprises 1.8% of Hixon Zuercher LLC's portfolio, making the stock its 22nd largest position. Hixon Zuercher LLC's holdings in Salesforce were worth $4,699,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Foundations Investment Advisors LLC raised its position in shares of Salesforce by 15.0% during the 4th quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider's stock worth $12,194,000 after purchasing an additional 4,752 shares during the period. Nabity Jensen Investment Management Inc acquired a new stake in Salesforce in the third quarter worth $1,215,000. Prime Capital Investment Advisors LLC lifted its stake in Salesforce by 13.6% in the third quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider's stock valued at $15,885,000 after buying an additional 6,938 shares during the last quarter. Aljian Capital Management LLC boosted its holdings in shares of Salesforce by 16.1% during the third quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider's stock valued at $3,629,000 after acquiring an additional 1,834 shares during the period. Finally, AIA Group Ltd grew its position in shares of Salesforce by 8.9% during the third quarter. AIA Group Ltd now owns 24,028 shares of the CRM provider's stock worth $6,577,000 after acquiring an additional 1,962 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company's stock.

Analyst Ratings Changes

CRM has been the topic of several recent research reports. Guggenheim downgraded shares of Salesforce from a "neutral" rating to a "sell" rating and set a $247.00 price objective on the stock. in a research report on Monday, January 6th. Canaccord Genuity Group boosted their price objective on Salesforce from $315.00 to $415.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. Macquarie restated a "neutral" rating and issued a $370.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. KeyCorp upgraded Salesforce from a "sector weight" rating to an "overweight" rating and set a $440.00 price target for the company in a research report on Friday, December 13th. Finally, Oppenheimer reissued an "outperform" rating and set a $415.00 price target (up from $385.00) on shares of Salesforce in a report on Wednesday, December 4th. One 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 stock. According to data from MarketBeat.com, Salesforce presently has a consensus rating of "Moderate Buy" and a consensus price target of $377.63.

Salesforce Stock Down 0.5 %

Shares of CRM stock traded down $1.78 on Friday, reaching $341.80. 5,776,873 shares of the company's stock traded hands, compared to its average volume of 6,314,254. The company has a market capitalization of $327.10 billion, a P/E ratio of 56.22, a price-to-earnings-growth ratio of 3.20 and a beta of 1.30. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The business's 50 day moving average price is $338.68 and its two-hundred day moving average price is $296.75.

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

Salesforce Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce's dividend payout ratio (DPR) is currently 26.32%.

Insider Activity

In other Salesforce news, insider Parker Harris sold 3,970 shares of the firm's stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $296.74, for a total value of $1,178,057.80. Following the completion of the sale, the insider now owns 119,402 shares in the company, valued at approximately $35,431,349.48. This trade represents a 3.22 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Amy E. Weaver sold 897 shares of Salesforce stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $298,055.16. Following the sale, the chief financial officer now directly owns 46,750 shares in the company, valued at $15,534,090. The trade was a 1.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,108,669 shares of company stock worth $383,286,905 in the last ninety days. Corporate insiders own 3.20% of the company's stock.

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.