Baltimore Washington Financial Advisors Inc. Buys 945 Shares of Salesforce, Inc. (NYSE:CRM)

Baltimore Washington Financial Advisors Inc. boosted its stake in Salesforce, Inc. (NYSE:CRM) by 3.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,500 shares of the CRM provider’s stock after acquiring an additional 945 shares during the period. Baltimore Washington Financial Advisors Inc.’s holdings in Salesforce were worth $8,348,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CRM. Piscataqua Savings Bank boosted its holdings in shares of Salesforce by 2,400.0% during the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after buying an additional 96 shares in the last quarter. Clear Investment Research LLC boosted its holdings in shares of Salesforce by 816.7% during the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after buying an additional 98 shares in the last quarter. Stephens Consulting LLC boosted its holdings in shares of Salesforce by 3,125.0% during the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after buying an additional 125 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new position in shares of Salesforce during the 2nd quarter worth approximately $33,000. Finally, Godsey & Gibb Inc. boosted its holdings in shares of Salesforce by 300.0% during the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after buying an additional 90 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors.

Salesforce Stock Performance

NYSE:CRM opened at $342.02 on Friday. The business has a 50 day moving average of $294.61 and a 200 day moving average of $268.60. The company has a market capitalization of $326.97 billion, a price-to-earnings ratio of 59.48, a PEG ratio of 3.04 and a beta of 1.29. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $348.86. 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 (NYSE:CRM) last released its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share 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 company had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter in the previous year, the company 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 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The business 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 0.47%. Salesforce’s payout ratio is currently 27.83%.

Analyst Upgrades and Downgrades

CRM has been the topic of a number of research analyst reports. TD Cowen increased their price target on Salesforce from $290.00 to $340.00 and gave the stock a “hold” rating in a report on Thursday. Evercore ISI reaffirmed an “outperform” rating and set a $300.00 target price on shares of Salesforce in a research report on Monday, August 26th. Wedbush upped their target price on Salesforce from $315.00 to $325.00 and gave the stock an “outperform” rating in a research report on Friday, September 27th. Piper Sandler lowered Salesforce from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 10th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $385.00 target price (up from $330.00) on shares of Salesforce in a research report on Thursday. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $336.37.

Insider Buying and Selling at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $117,824.77. Following the completion of the sale, the chief accounting officer now owns 7,006 shares in the company, valued at approximately $1,998,741.74. The trade was a 5.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Amy E. Weaver sold 897 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $255,905.13. Following the transaction, the chief financial officer now owns 52,930 shares of the company’s stock, valued at approximately $15,100,399.70. This represents a 1.67 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 147,991 shares of company stock worth $43,333,238. 3.20% of the stock is currently owned by insiders.

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.