Hazlett Burt & Watson Inc. Purchases 126 Shares of Salesforce, Inc. (NYSE:CRM)

Hazlett Burt & Watson Inc. raised its position in Salesforce, Inc. (NYSE:CRM) by 4.3% in the 3rd quarter, Holdings Channel reports. The firm owned 3,065 shares of the CRM provider’s stock after buying an additional 126 shares during the quarter. Hazlett Burt & Watson Inc.’s holdings in Salesforce were worth $841,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in CRM. Capital Research Global Investors increased its stake in Salesforce by 26.9% in the 1st quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock worth $4,329,925,000 after acquiring an additional 3,044,611 shares during the last quarter. GQG Partners LLC bought a new stake in Salesforce during the first quarter worth about $910,220,000. Swedbank AB bought a new position in shares of Salesforce during the 1st quarter valued at about $874,748,000. Veritas Asset Management LLP purchased a new position in shares of Salesforce during the 3rd quarter valued at about $733,805,000. Finally, Massachusetts Financial Services Co. MA lifted its position in Salesforce by 48.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,906,877 shares of the CRM provider’s stock worth $1,518,658,000 after buying an additional 1,922,674 shares during the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Stock Down 0.2 %

NYSE:CRM traded down $0.62 during mid-day trading on Monday, hitting $294.10. 740,925 shares of the company’s stock were exchanged, compared to its average volume of 6,248,046. The company has a market cap of $281.16 billion, a PE ratio of 51.11, a P/E/G ratio of 2.64 and a beta of 1.29. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. Salesforce, Inc. has a one year low of $204.69 and a one year high of $318.71. The business has a fifty day moving average price of $273.02 and a 200 day moving average price of $263.18.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 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 firm had revenue of $9.33 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same period in the previous year, the firm posted $1.63 EPS. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. Equities analysts predict that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were paid a $0.40 dividend. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.54%. Salesforce’s dividend payout ratio is currently 27.83%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Cfra set a $343.00 price objective on shares of Salesforce in a report on Thursday, October 17th. Raymond James upped their price target on shares of Salesforce from $325.00 to $350.00 and gave the company a “strong-buy” rating in a research report on Thursday, August 29th. JMP Securities reiterated a “market outperform” rating and issued a $342.00 price objective on shares of Salesforce in a report on Wednesday, August 28th. Truist Financial restated a “buy” rating and set a $315.00 target price (up from $300.00) on shares of Salesforce in a report on Thursday, September 19th. Finally, Northland Securities raised Salesforce from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $270.00 to $400.00 in a research note on Wednesday, October 2nd. Nine investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $313.37.

Insider Activity

In related news, insider Parker Harris sold 2,800 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $241.22, for a total value of $675,416.00. Following the transaction, the insider now owns 117,581 shares in the company, valued at $28,362,888.82. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Parker Harris sold 2,800 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $241.22, for a total value of $675,416.00. Following the transaction, the insider now directly owns 117,581 shares of the company’s stock, valued at approximately $28,362,888.82. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Sundeep G. Reddy sold 413 shares of the stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $117,824.77. Following the sale, the chief accounting officer now owns 7,006 shares in the company, valued at approximately $1,998,741.74. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 148,303 shares of company stock worth $42,024,385 over the last three months. 3.20% of the stock is currently owned by corporate insiders.

Salesforce 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.