Stock Yards Bank & Trust Co. Sells 364 Shares of Salesforce, Inc. (NYSE:CRM)

Stock Yards Bank & Trust Co. reduced its stake in shares of Salesforce, Inc. (NYSE:CRM) by 8.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,754 shares of the CRM provider’s stock after selling 364 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Salesforce were worth $988,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Bear Mountain Capital Inc. bought a new position in Salesforce in the 4th quarter valued at about $26,000. Kathleen S. Wright Associates Inc. acquired a new position in Salesforce during the fourth quarter valued at approximately $31,000. Pacifica Partners Inc. lifted its stake in Salesforce by 333.3% during the fourth quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 100 shares during the last quarter. BKM Wealth Management LLC acquired a new stake in shares of Salesforce in the 4th quarter valued at $34,000. Finally, AlphaMark Advisors LLC increased its stake in shares of 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 purchasing an additional 125 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

CRM has been the topic of several research analyst reports. Truist Financial reaffirmed a “buy” rating and issued a $360.00 price objective (up from $275.00) on shares of Salesforce in a research note on Thursday, February 29th. Wells Fargo & Company upped their price objective on shares of Salesforce from $280.00 to $290.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 21st. JPMorgan Chase & Co. lifted their price target on Salesforce from $260.00 to $310.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Evercore ISI upped their price objective on Salesforce from $290.00 to $330.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. Finally, Jefferies Financial Group lifted their target price on shares of Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a research report on Monday. Nine equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $310.61.

Salesforce Price Performance

Shares of NYSE CRM opened at $276.63 on Wednesday. The firm has a market cap of $268.33 billion, a price-to-earnings ratio of 65.86, a price-to-earnings-growth ratio of 2.11 and a beta of 1.28. The stock has a fifty day simple moving average of $296.91 and a two-hundred day simple moving average of $263.28. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 1-year low of $190.57 and a 1-year high of $318.71.

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

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were paid a $0.40 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $1.60 dividend on an annualized basis and a yield of 0.58%. Salesforce’s dividend payout ratio (DPR) is currently 9.52%.

Insider Buying and Selling at Salesforce

In related news, CFO Amy E. Weaver sold 942 shares of Salesforce stock in a transaction on Monday, March 25th. The shares were sold at an average price of $305.46, for a total value of $287,743.32. Following the transaction, the chief financial officer now directly owns 39,416 shares of the company’s stock, valued at $12,040,011.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CAO Sundeep G. Reddy sold 2,425 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $273.15, for a total value of $662,388.75. Following the completion of the sale, the chief accounting officer now owns 5,856 shares of the company’s stock, valued at $1,599,566.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Amy E. Weaver sold 942 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $305.46, for a total transaction of $287,743.32. Following the completion of the sale, the chief financial officer now directly owns 39,416 shares of the company’s stock, valued at $12,040,011.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 616,589 shares of company stock worth $181,071,306. 3.70% of the stock is currently owned by 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.