Cohen Investment Advisors LLC Increases Stake in Salesforce, Inc. (NYSE:CRM)

Cohen Investment Advisors LLC increased its holdings in Salesforce, Inc. (NYSE:CRM) by 0.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,222 shares of the CRM provider’s stock after acquiring an additional 42 shares during the quarter. Salesforce makes up about 2.3% of Cohen Investment Advisors LLC’s investment portfolio, making the stock its 13th largest position. Cohen Investment Advisors LLC’s holdings in Salesforce were worth $3,752,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Ullmann Wealth Partners Group LLC purchased a new stake in shares of Salesforce in the 4th quarter worth approximately $234,000. Cypress Wealth Services LLC bought a new position in Salesforce in the fourth quarter worth approximately $248,000. JGP Wealth Management LLC lifted its holdings in Salesforce by 12.3% during the fourth quarter. JGP Wealth Management LLC now owns 1,116 shares of the CRM provider’s stock worth $373,000 after buying an additional 122 shares during the period. Ritholtz Wealth Management boosted its position in Salesforce by 4.9% during the 4th quarter. Ritholtz Wealth Management now owns 13,616 shares of the CRM provider’s stock valued at $4,552,000 after acquiring an additional 639 shares in the last quarter. Finally, Tallon Kerry Patrick purchased a new position in shares of Salesforce in the 4th quarter valued at $236,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Stock Down 0.1 %

Shares of NYSE CRM opened at $320.99 on Friday. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The company’s 50-day simple moving average is $337.05 and its 200-day simple moving average is $290.87. The firm has a market cap of $307.18 billion, a price-to-earnings ratio of 52.79, a price-to-earnings-growth ratio of 2.87 and a beta of 1.30.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.03). The firm had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. Salesforce’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.62 earnings per share. Equities analysts predict that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Dividend Announcement

The firm 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. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 annualized dividend and a yield of 0.50%. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Canaccord Genuity Group upped their price objective on Salesforce from $315.00 to $415.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Cfra set a $343.00 price objective on shares of Salesforce in a research note on Thursday, October 17th. Royal Bank of Canada raised their target price on shares of Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Needham & Company LLC upped their price target on Salesforce from $375.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Finally, Bank of America raised their price objective on Salesforce from $390.00 to $440.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty have issued a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $376.05.

Insider Activity

In other Salesforce news, COO Brian Millham sold 6,161 shares of the stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $289.75, for a total value of $1,785,149.75. Following the completion of the sale, the chief operating officer now owns 969 shares in the company, valued at approximately $280,767.75. This represents a 86.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $329.88, for a total value of $2,052,183.48. Following the transaction, the chief financial officer now owns 45,861 shares in the company, valued at approximately $15,128,626.68. This represents a 11.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,183,838 shares of company stock worth $405,595,158 over the last three months. 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.