Apexium Financial LP Has $452,000 Position in Salesforce, Inc. (NYSE:CRM)

Apexium Financial LP boosted its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 3.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,717 shares of the CRM provider’s stock after acquiring an additional 62 shares during the quarter. Apexium Financial LP’s holdings in Salesforce were worth $452,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of CRM. Baader Bank Aktiengesellschaft boosted its stake in shares of Salesforce by 35.6% in the 4th quarter. Baader Bank Aktiengesellschaft now owns 108,474 shares of the CRM provider’s stock valued at $28,530,000 after purchasing an additional 28,500 shares in the last quarter. Savvy Advisors Inc. acquired a new stake in shares of Salesforce in the 4th quarter valued at $327,000. Guardian Capital Advisors LP acquired a new stake in shares of Salesforce in the 4th quarter valued at $950,000. Barings LLC boosted its stake in shares of Salesforce by 2.7% in the 4th quarter. Barings LLC now owns 8,667 shares of the CRM provider’s stock valued at $2,281,000 after purchasing an additional 227 shares in the last quarter. Finally, Foundations Investment Advisors LLC boosted its stake in shares of Salesforce by 24.9% in the 4th quarter. Foundations Investment Advisors LLC now owns 17,373 shares of the CRM provider’s stock valued at $4,930,000 after purchasing an additional 3,458 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insiders Place Their Bets

In other news, COO Brian Millham sold 2,106 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $280.00, for a total transaction of $589,680.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, COO Brian Millham sold 2,106 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $280.00, for a total transaction of $589,680.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Srinivas Tallapragada sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $287.50, for a total value of $2,875,000.00. Following the sale, the insider now owns 60,416 shares in the company, valued at approximately $17,369,600. The disclosure for this sale can be found here. Insiders sold a total of 635,499 shares of company stock valued at $184,795,784 in the last quarter. 3.70% of the stock is currently owned by insiders.

Salesforce Stock Up 0.7 %

Shares of CRM traded up $2.02 on Friday, hitting $286.70. The company’s stock had a trading volume of 1,285,040 shares, compared to its average volume of 5,353,429. Salesforce, Inc. has a fifty-two week low of $193.68 and a fifty-two week high of $318.71. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The firm’s fifty day moving average price is $289.53 and its 200-day moving average price is $270.94. The firm has a market capitalization of $277.53 billion, a price-to-earnings ratio of 68.13, a P/E/G ratio of 2.21 and a beta of 1.30.

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 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 firm had revenue of $9.29 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter in the prior year, the firm posted $1.01 EPS. The business’s revenue was up 10.8% on a year-over-year basis. On average, equities research analysts expect that Salesforce, Inc. will post 7.45 EPS for the current year.

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date was Wednesday, March 13th. Salesforce’s dividend payout ratio (DPR) is currently 9.52%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CRM shares. UBS Group lifted their price target on Salesforce from $285.00 to $310.00 and gave the company a “neutral” rating in a report on Friday, February 16th. Robert W. Baird lifted their price target on Salesforce from $310.00 to $355.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Truist Financial reaffirmed a “buy” rating and issued a $360.00 price target (up from $275.00) on shares of Salesforce in a report on Thursday, February 29th. Needham & Company LLC reaffirmed a “buy” rating and issued a $345.00 price target on shares of Salesforce in a report on Monday, April 15th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $300.00 price target on shares of Salesforce in a report on Monday, April 15th. Nine 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, Salesforce currently has a consensus rating of “Moderate Buy” and an average target price of $310.61.

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.