Processus Wealth & Capital Management LLC Sells 639 Shares of Salesforce, Inc. (NYSE:CRM)

Processus Wealth & Capital Management LLC lessened its holdings in Salesforce, Inc. (NYSE:CRM) by 6.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,261 shares of the CRM provider’s stock after selling 639 shares during the quarter. Salesforce makes up approximately 2.5% of Processus Wealth & Capital Management LLC’s investment portfolio, making the stock its 17th largest position. Processus Wealth & Capital Management LLC’s holdings in Salesforce were worth $3,096,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Arlington Trust Co LLC lifted its position in shares of Salesforce by 85.1% in the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after purchasing an additional 40 shares during the period. Compass Financial Services Inc acquired a new position in shares of Salesforce in the 4th quarter worth approximately $30,000. Asset Planning Inc acquired a new position in shares of Salesforce in the 4th quarter worth approximately $31,000. Collier Financial bought a new stake in shares of Salesforce in the 4th quarter valued at $32,000. Finally, Infrastructure Capital Advisors LLC bought a new stake in shares of Salesforce in the 3rd quarter valued at $27,000. Institutional investors own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CRM shares. Barclays lifted their price objective on shares of Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Oppenheimer restated an “outperform” rating and set a $415.00 price target (up previously from $385.00) on shares of Salesforce in a research note on Wednesday, December 4th. The Goldman Sachs Group boosted their price target on shares of Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Northland Securities restated an “outperform” rating and set a $440.00 price target (up previously from $400.00) on shares of Salesforce in a research note on Wednesday, December 4th. Finally, Bank of America upped their target price on shares of Salesforce from $390.00 to $440.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-two have assigned a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $375.53.

Insider Buying and Selling

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $328.18, for a total transaction of $2,041,607.78. Following the transaction, the chief financial officer now owns 46,750 shares in the company, valued at approximately $15,342,415. This represents a 11.74 % 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, insider Miguel Milano sold 458 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $307.97, for a total value of $141,050.26. Following the completion of the transaction, the insider now owns 5,864 shares in the company, valued at approximately $1,805,936.08. This trade represents a 7.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,102,572 shares of company stock valued at $381,283,706 over the last ninety days. Company insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

Shares of Salesforce stock opened at $308.27 on Tuesday. 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 has a market capitalization of $295.01 billion, a PE ratio of 50.70, a price-to-earnings-growth ratio of 2.58 and a beta of 1.31. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The stock’s fifty day moving average is $332.36 and its two-hundred day moving average is $306.60.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The business had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.35 billion. During the same quarter last year, the business posted $1.62 earnings per share. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. As a group, analysts expect that Salesforce, Inc. will post 7.46 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.52%. The ex-dividend date was Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is 26.32%.

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.