KMG Fiduciary Partners LLC Increases Stake in Salesforce, Inc. (NYSE:CRM)

KMG Fiduciary Partners LLC lifted its stake in Salesforce, Inc. (NYSE:CRM) by 3.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,099 shares of the CRM provider’s stock after purchasing an additional 698 shares during the period. KMG Fiduciary Partners LLC’s holdings in Salesforce were worth $6,596,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. XN LP boosted its holdings in Salesforce by 24.2% in the second quarter. XN LP now owns 464,489 shares of the CRM provider’s stock valued at $119,420,000 after purchasing an additional 90,616 shares in the last quarter. Atomi Financial Group Inc. raised its stake in Salesforce by 27.5% during the 3rd quarter. Atomi Financial Group Inc. now owns 11,999 shares of the CRM provider’s stock worth $3,284,000 after acquiring an additional 2,589 shares in the last quarter. M&G Plc acquired a new position in Salesforce in the first quarter valued at $2,178,000. First Foundation Advisors increased its position in shares of Salesforce by 38.0% during the first quarter. First Foundation Advisors now owns 828 shares of the CRM provider’s stock worth $249,000 after purchasing an additional 228 shares in the last quarter. Finally, St. Johns Investment Management Company LLC boosted its position in shares of Salesforce by 4.1% in the 1st quarter. St. Johns Investment Management Company LLC now owns 5,834 shares of the CRM provider’s stock valued at $1,757,000 after purchasing an additional 228 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Stifel Nicolaus boosted their price objective on Salesforce from $300.00 to $320.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Phillip Securities reaffirmed an “accumulate” rating and issued a $305.00 target price on shares of Salesforce in a report on Friday, August 30th. Northland Capmk raised Salesforce from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 2nd. Robert W. Baird increased their price objective on Salesforce from $295.00 to $315.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Finally, Wedbush boosted their target price on Salesforce from $315.00 to $325.00 and gave the company an “outperform” rating in a report on Friday, September 27th. Nine investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $311.66.

Insiders Place Their Bets

In related news, insider R David Schmaier sold 1,155 shares of Salesforce stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total value of $295,425.90. Following the completion of the transaction, the insider now directly owns 20,556 shares of the company’s stock, valued at $5,257,813.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider R David Schmaier sold 1,155 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total value of $295,425.90. Following the transaction, the insider now owns 20,556 shares in the company, valued at $5,257,813.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Parker Harris sold 4,200 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $289.87, for a total transaction of $1,217,454.00. Following the completion of the transaction, the insider now owns 118,514 shares in the company, valued at $34,353,653.18. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 80,612 shares of company stock valued at $21,429,961. 3.20% of the stock is currently owned by corporate insiders.

Salesforce Trading Up 0.7 %

Shares of CRM opened at $293.07 on Friday. Salesforce, Inc. has a 1 year low of $193.68 and a 1 year high of $318.71. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. The stock has a 50 day simple moving average of $266.65 and a 200-day simple moving average of $263.77. The stock has a market cap of $283.98 billion, a PE ratio of 52.71, a PEG ratio of 2.61 and a beta of 1.30.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The business had revenue of $9.33 billion during the quarter, compared to analysts’ expectations of $9.22 billion. During the same period in the prior year, the firm posted $1.63 EPS. Salesforce’s quarterly revenue was up 8.5% compared to the same quarter last year. On average, sell-side analysts predict that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were given a $0.40 dividend. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 annualized dividend and a yield of 0.55%. Salesforce’s payout ratio is 28.78%.

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.