Cornell Pochily Investment Advisors Inc. Has $1.48 Million Position in Salesforce, Inc. (NYSE:CRM)

Cornell Pochily Investment Advisors Inc. increased its position in shares of Salesforce, Inc. (NYSE:CRM) by 1.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,622 shares of the CRM provider’s stock after purchasing an additional 70 shares during the quarter. Cornell Pochily Investment Advisors Inc.’s holdings in Salesforce were worth $1,479,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Union Savings Bank acquired a new position in shares of Salesforce in the 2nd quarter worth approximately $27,000. Pacifica Partners Inc. increased its stake in Salesforce by 333.3% during the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 100 shares in the last quarter. BKM Wealth Management LLC bought a new stake in Salesforce during the 4th quarter valued at $34,000. GHP Investment Advisors Inc. grew its stake in shares of Salesforce by 30.4% in the 4th quarter. GHP Investment Advisors Inc. now owns 270 shares of the CRM provider’s stock worth $36,000 after acquiring an additional 63 shares in the last quarter. Finally, Live Oak Investment Partners bought a new stake in shares of Salesforce in the 4th quarter worth $36,000. Institutional investors own 80.43% of the company’s stock.

Salesforce Price Performance

Shares of CRM stock traded down $0.38 on Thursday, hitting $301.00. 1,160,334 shares of the company’s stock were exchanged, compared to its average volume of 5,701,038. The stock has a market cap of $291.97 billion, a P/E ratio of 71.72, a price-to-earnings-growth ratio of 2.35 and a beta of 1.28. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The company has a 50 day moving average of $293.59 and a 200 day moving average of $251.75. Salesforce, Inc. has a 12 month low of $187.31 and a 12 month high of $318.71.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.06. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The company had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same period in the previous year, the business posted $1.01 earnings per share. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. On average, equities research analysts predict that Salesforce, Inc. will post 7.45 EPS for the current year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 11th. Investors of record on Thursday, March 14th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, March 13th. This represents a $1.60 annualized dividend and a dividend yield of 0.53%. Salesforce’s payout ratio is 9.52%.

Wall Street Analyst Weigh In

Several analysts have weighed in on CRM shares. Needham & Company LLC raised their price target on Salesforce from $275.00 to $345.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Bank of America increased their price target on Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Wedbush raised their price objective on Salesforce from $280.00 to $325.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. StockNews.com lowered Salesforce from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 19th. Finally, Piper Sandler restated a “neutral” rating and issued a $285.00 target price on shares of Salesforce in a research note on Wednesday, February 28th. Nine analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $304.32.

Insider Transactions at Salesforce

In other news, CAO Sundeep G. Reddy sold 216 shares of the business’s stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $278.71, for a total transaction of $60,201.36. Following the completion of the sale, the chief accounting officer now directly owns 2,869 shares of the company’s stock, valued at $799,618.99. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CFO Amy E. Weaver sold 12,249 shares of the firm’s stock in a transaction on Friday, December 29th. The shares were sold at an average price of $264.94, for a total transaction of $3,245,250.06. Following the sale, the chief financial officer now owns 37,979 shares in the company, valued at approximately $10,062,156.26. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Sundeep G. Reddy sold 216 shares of the stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $278.71, for a total value of $60,201.36. Following the transaction, the chief accounting officer now owns 2,869 shares in the company, valued at $799,618.99. The disclosure for this sale can be found here. Insiders sold a total of 898,507 shares of company stock valued at $255,293,063 in the last quarter. 3.70% of the stock is currently owned by company 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.