Salesforce, Inc. (NYSE:CRM) Stake Reduced by Community Bank & Trust Waco Texas

Community Bank & Trust Waco Texas decreased its holdings in Salesforce, Inc. (NYSE:CRM) by 16.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 3,912 shares of the CRM provider’s stock after selling 747 shares during the period. Community Bank & Trust Waco Texas’ holdings in Salesforce were worth $1,029,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Bear Mountain Capital Inc. acquired a new position in Salesforce during the fourth quarter worth $26,000. Kathleen S. Wright Associates Inc. bought a new stake in Salesforce in the 4th quarter valued at approximately $31,000. Pacifica Partners Inc. raised its stake in shares of Salesforce by 333.3% during the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 100 shares in the last quarter. BKM Wealth Management LLC acquired a new position in shares of Salesforce during the 4th quarter worth approximately $34,000. Finally, AlphaMark Advisors LLC grew its holdings in Salesforce by 892.9% in the 4th quarter. AlphaMark Advisors LLC now owns 139 shares of the CRM provider’s stock valued at $37,000 after buying an additional 125 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CRM. Truist Financial restated a “buy” rating and set a $360.00 price objective (up from $275.00) on shares of Salesforce in a research report on Thursday, February 29th. Oppenheimer raised their target price on Salesforce from $300.00 to $325.00 and gave the company an “outperform” rating in a report on Monday, February 12th. Wells Fargo & Company boosted their target price on Salesforce from $280.00 to $290.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 21st. Bank of America lifted their price target on Salesforce from $350.00 to $360.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Finally, Citigroup upped their price objective on Salesforce from $265.00 to $325.00 and gave the stock a “neutral” rating in a report on Monday, February 26th. Nine analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $310.61.

Salesforce Trading Down 0.7 %

Shares of CRM traded down $1.87 during mid-day trading on Wednesday, reaching $274.81. The company’s stock had a trading volume of 1,378,660 shares, compared to its average volume of 5,663,928. The company’s fifty day moving average price is $296.91 and its two-hundred day moving average price is $263.28. Salesforce, Inc. has a 52 week low of $190.57 and a 52 week high of $318.71. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The stock has a market cap of $266.57 billion, a PE ratio of 66.03, a P/E/G ratio of 2.11 and a beta of 1.28.

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

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.58%. The ex-dividend date was Wednesday, March 13th. Salesforce’s payout ratio is 9.52%.

Insider Transactions at Salesforce

In other news, CFO Amy E. Weaver sold 4,096 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $273.15, for a total transaction of $1,118,822.40. Following the sale, the chief financial officer now owns 49,290 shares in the company, valued at $13,463,563.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Amy E. Weaver sold 4,096 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $273.15, for a total transaction of $1,118,822.40. Following the transaction, the chief financial officer now owns 49,290 shares in the company, valued at approximately $13,463,563.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Amy E. Weaver sold 942 shares of Salesforce stock in a transaction on Monday, March 25th. The stock was sold at an average price of $305.46, for a total value of $287,743.32. Following the transaction, the chief financial officer now owns 39,416 shares in the company, valued at approximately $12,040,011.36. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 616,589 shares of company stock worth $181,071,306. 3.70% of the stock is currently owned by insiders.

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.