Meadow Creek Wealth Advisors LLC Buys 373 Shares of Salesforce, Inc. (NYSE:CRM)

Meadow Creek Wealth Advisors LLC raised its position in Salesforce, Inc. (NYSE:CRM) by 12.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,409 shares of the CRM provider’s stock after acquiring an additional 373 shares during the quarter. Salesforce makes up 0.8% of Meadow Creek Wealth Advisors LLC’s portfolio, making the stock its 28th biggest holding. Meadow Creek Wealth Advisors LLC’s holdings in Salesforce were worth $1,140,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Veritas Asset Management LLP purchased a new stake in Salesforce during the 3rd quarter valued at approximately $733,805,000. Jennison Associates LLC grew its holdings in Salesforce by 52.7% during the 4th quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider’s stock valued at $1,482,347,000 after purchasing an additional 1,530,572 shares during the last quarter. Swedbank AB boosted its holdings in Salesforce by 46.7% during the 4th quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider’s stock valued at $1,280,408,000 after acquiring an additional 1,219,254 shares during the period. KBC Group NV grew its holdings in shares of Salesforce by 171.2% in the third quarter. KBC Group NV now owns 1,634,834 shares of the CRM provider’s stock worth $447,470,000 after purchasing an additional 1,032,068 shares during the last quarter. Finally, International Assets Investment Management LLC raised its stake in shares of Salesforce by 23,664.2% during the third quarter. International Assets Investment Management LLC now owns 1,002,848 shares of the CRM provider’s stock valued at $274,490,000 after acquiring an additional 998,628 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors.

Salesforce Price Performance

Shares of CRM opened at $347.41 on Thursday. 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 firm has a market cap of $332.47 billion, a PE ratio of 57.14, a price-to-earnings-growth ratio of 3.09 and a beta of 1.31. The business’s 50 day moving average price is $338.69 and its two-hundred day moving average price is $299.31. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00.

Salesforce (NYSE:CRM) last posted its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (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 firm had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. During the same quarter in the previous year, the company earned $1.62 EPS. The business’s revenue was up 8.3% compared to the same quarter last year. On average, equities analysts anticipate that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were issued a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.46%. Salesforce’s payout ratio is currently 26.32%.

Insider Transactions at Salesforce

In related news, COO Brian Millham sold 14,808 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $338.95, for a total value of $5,019,171.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Sundeep G. Reddy sold 436 shares of Salesforce stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the transaction, the chief accounting officer now owns 7,057 shares in the company, valued at $2,344,899.96. This represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,111,420 shares of company stock valued at $384,366,700. 3.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CRM. TD Cowen upgraded Salesforce from a “hold” rating to a “buy” rating and upped their target price for the stock from $380.00 to $400.00 in a report on Friday, January 17th. Morgan Stanley increased their price target on shares of Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Scotiabank lifted their price target on Salesforce from $425.00 to $440.00 and gave the company a “sector outperform” rating in a research report on Wednesday, December 4th. Stifel Nicolaus upped their price target on Salesforce from $390.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Wells Fargo & Company upped their price target on shares of Salesforce from $275.00 to $330.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have issued a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $377.63.

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.