Salesforce, Inc. (NYSE:CRM) Shares Acquired by TFC Financial Management Inc.

TFC Financial Management Inc. lifted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 4.1% during the fourth quarter, Holdings Channel reports. The firm owned 1,263 shares of the CRM provider’s stock after buying an additional 50 shares during the period. TFC Financial Management Inc.’s holdings in Salesforce were worth $422,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Infrastructure Capital Advisors LLC acquired a new stake in shares of Salesforce during the 3rd quarter worth approximately $27,000. Arlington Trust Co LLC increased its position in Salesforce by 85.1% in the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after acquiring an additional 40 shares during the period. Compass Financial Services Inc acquired a new stake in Salesforce in the 4th quarter valued at approximately $30,000. Collier Financial acquired a new stake in Salesforce in the 4th quarter valued at approximately $32,000. Finally, Godsey & Gibb Inc. increased its position in Salesforce by 300.0% in the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 90 shares during the period. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Price Performance

CRM opened at $326.26 on Thursday. The stock has a market cap of $312.23 billion, a price-to-earnings ratio of 53.66, a PEG ratio of 2.66 and a beta of 1.31. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock has a fifty day moving average price of $338.74 and a 200 day moving average price of $301.96.

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

Salesforce Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 annualized dividend and a yield of 0.49%. Salesforce’s dividend payout ratio (DPR) is currently 26.32%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on CRM shares. Needham & Company LLC restated a “buy” rating and issued a $400.00 target price on shares of Salesforce in a research report on Thursday, February 6th. Wells Fargo & Company raised their target price on Salesforce from $275.00 to $330.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 12th. Bank of America raised their target price on Salesforce from $390.00 to $440.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. KeyCorp upgraded Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price target on the stock in a research report on Friday, December 13th. Finally, Canaccord Genuity Group lifted their price target on Salesforce from $315.00 to $415.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have assigned a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $377.63.

Insider Buying and Selling at Salesforce

In other news, CEO Marc Benioff sold 317,105 shares of Salesforce stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $346.78, for a total value of $109,965,671.90. Following the transaction, the chief executive officer now directly owns 12,162,457 shares in the company, valued at approximately $4,217,696,838.46. The trade was a 2.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Sundeep G. Reddy sold 436 shares of Salesforce stock in a transaction dated Thursday, January 23rd. The stock was 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. The trade was a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,111,420 shares of company stock worth $384,366,700 over the last three months. Corporate insiders own 3.20% of the company’s stock.

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.