Roffman Miller Associates Inc. PA Has $9.53 Million Stake in Salesforce, Inc. (NYSE:CRM)

Roffman Miller Associates Inc. PA decreased its position in Salesforce, Inc. (NYSE:CRM) by 19.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,225 shares of the CRM provider’s stock after selling 8,555 shares during the quarter. Roffman Miller Associates Inc. PA’s holdings in Salesforce were worth $9,532,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CRM. Marks Group Wealth Management Inc boosted its stake in shares of Salesforce by 0.7% in the fourth quarter. Marks Group Wealth Management Inc now owns 35,220 shares of the CRM provider’s stock valued at $9,268,000 after buying an additional 257 shares during the period. Walkner Condon Financial Advisors LLC boosted its stake in shares of Salesforce by 2.9% in the third quarter. Walkner Condon Financial Advisors LLC now owns 2,633 shares of the CRM provider’s stock valued at $534,000 after buying an additional 74 shares during the period. Roman Butler Fullerton & Co. boosted its stake in shares of Salesforce by 1.4% in the fourth quarter. Roman Butler Fullerton & Co. now owns 7,881 shares of the CRM provider’s stock valued at $2,206,000 after buying an additional 105 shares during the period. Pure Financial Advisors LLC bought a new stake in shares of Salesforce in the fourth quarter valued at approximately $214,000. Finally, Riversedge Advisors LLC boosted its stake in shares of Salesforce by 21.7% in the third quarter. Riversedge Advisors LLC now owns 2,353 shares of the CRM provider’s stock valued at $477,000 after buying an additional 420 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Stock Up 0.2 %

Salesforce stock traded up $0.68 during midday trading on Friday, reaching $273.82. The stock had a trading volume of 2,125,343 shares, compared to its average volume of 5,640,686. Salesforce, Inc. has a 12 month low of $190.76 and a 12 month high of $318.71. The company has a market capitalization of $265.61 billion, a P/E ratio of 65.67, a PEG ratio of 2.12 and a beta of 1.28. The company has a fifty day moving average price of $296.28 and a two-hundred day moving average price of $263.44. 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 (NYSE:CRM) last released its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.06. The business had revenue of $9.29 billion during the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The company’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.01 EPS. As a group, equities analysts expect that Salesforce, Inc. will post 7.45 EPS for the current fiscal year.

Salesforce Dividend Announcement

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 dividend of $0.40 per share. 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%.

Wall Street Analyst Weigh In

Several research firms have weighed in on CRM. Wolfe Research restated an “outperform” rating and set a $365.00 target price on shares of Salesforce in a research note on Tuesday, April 16th. Royal Bank of Canada restated an “outperform” rating and set a $350.00 target price (up from $325.00) on shares of Salesforce in a research note on Friday, April 12th. Citigroup upped their target price on Salesforce from $265.00 to $325.00 and gave the stock a “neutral” rating in a research note on Monday, February 26th. BMO Capital Markets upped their target price on Salesforce from $325.00 to $335.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Finally, TheStreet upgraded Salesforce from a “c+” rating to a “b-” rating in a research note on Friday, January 19th. Nine analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $310.61.

Insider Buying and Selling at Salesforce

In other news, COO Brian Millham sold 4,204 shares of the business’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $278.00, for a total value of $1,168,712.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $276.65, for a total value of $4,149,750.00. Following the transaction, the chief executive officer now owns 12,782,327 shares in the company, valued at approximately $3,536,230,764.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Brian Millham sold 4,204 shares of the business’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $278.00, for a total value of $1,168,712.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 620,793 shares of company stock worth $182,177,918. Insiders own 3.70% of the company’s stock.

About Salesforce

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.