Sax Wealth Advisors LLC Has $1.13 Million Stock Position in Salesforce, Inc. (NYSE:CRM)

Sax Wealth Advisors LLC grew its stake in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 77.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,364 shares of the CRM provider's stock after buying an additional 1,465 shares during the quarter. Sax Wealth Advisors LLC's holdings in Salesforce were worth $1,125,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Somerset Trust Co bought a new stake in Salesforce during the fourth quarter worth approximately $290,000. Merit Financial Group LLC raised its stake in shares of Salesforce by 62.1% in the 4th quarter. Merit Financial Group LLC now owns 19,581 shares of the CRM provider's stock worth $6,547,000 after buying an additional 7,499 shares in the last quarter. Chemistry Wealth Management LLC lifted its holdings in shares of Salesforce by 2.1% in the fourth quarter. Chemistry Wealth Management LLC now owns 5,055 shares of the CRM provider's stock valued at $1,690,000 after buying an additional 103 shares during the period. Relyea Zuckerberg Hanson LLC boosted its stake in Salesforce by 5.3% during the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 2,336 shares of the CRM provider's stock valued at $781,000 after buying an additional 118 shares in the last quarter. Finally, CNB Bank grew its holdings in Salesforce by 6.8% during the fourth quarter. CNB Bank now owns 4,701 shares of the CRM provider's stock worth $1,572,000 after acquiring an additional 301 shares during the period. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Stock Performance

Shares of NYSE:CRM traded up $4.77 during midday trading on Friday, hitting $324.77. The company's stock had a trading volume of 6,283,814 shares, compared to its average volume of 4,604,853. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week 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 stock has a market capitalization of $310.81 billion, a price-to-earnings ratio of 53.42, a PEG ratio of 2.87 and a beta of 1.30. The stock's 50 day simple moving average is $337.31 and its 200 day simple moving average is $291.56.

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

Salesforce Announces Dividend

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

Insider Activity at Salesforce

In other news, insider Parker Harris sold 4,200 shares of the company's stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $288.82, for a total value of $1,213,044.00. Following the sale, the insider now directly owns 118,514 shares in the company, valued at approximately $34,229,213.48. This represents a 3.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Brian Millham sold 6,161 shares of Salesforce stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $289.75, for a total transaction of $1,785,149.75. Following the completion of the transaction, the chief operating officer now owns 969 shares of the company's stock, valued at $280,767.75. This trade represents a 86.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,183,838 shares of company stock worth $405,595,158 over the last three months. Company insiders own 3.20% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Royal Bank of Canada increased their price objective on Salesforce from $300.00 to $420.00 and gave the company an "outperform" rating in a research report on Wednesday, December 4th. Wedbush reaffirmed an "outperform" rating and set a $425.00 target price on shares of Salesforce in a report on Wednesday, December 18th. Cfra set a $343.00 price target on Salesforce in a research note on Thursday, October 17th. JMP Securities reaffirmed a "market outperform" rating and set a $450.00 price objective on shares of Salesforce in a research note on Wednesday, December 18th. Finally, TD Cowen raised shares of Salesforce from a "hold" rating to a "buy" rating and lifted their target price for the stock from $380.00 to $400.00 in a research report on Friday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have assigned a buy rating and four have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Salesforce presently has an average rating of "Moderate Buy" and an average price target of $377.63.

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.