Icon Wealth Advisors LLC Purchases 30,382 Shares of Salesforce, Inc. (NYSE:CRM)

Icon Wealth Advisors LLC raised its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 281.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 41,159 shares of the CRM provider’s stock after acquiring an additional 30,382 shares during the quarter. Salesforce makes up about 0.4% of Icon Wealth Advisors LLC’s investment portfolio, making the stock its 26th biggest position. Icon Wealth Advisors LLC’s holdings in Salesforce were worth $11,266,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in CRM. Piscataqua Savings Bank boosted its stake in Salesforce by 2,400.0% in the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after purchasing an additional 96 shares during the period. Clear Investment Research LLC lifted its holdings in shares of Salesforce by 816.7% in the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after buying an additional 98 shares in the last quarter. Stephens Consulting LLC increased its holdings in Salesforce by 3,125.0% in the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 125 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in shares of Salesforce during the second quarter valued at about $33,000. Finally, Godsey & Gibb Inc. increased its holdings in shares of Salesforce by 300.0% in the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 90 shares during the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Stock Up 3.2 %

NYSE CRM opened at $336.19 on Friday. The stock has a fifty day moving average of $292.86 and a 200-day moving average of $268.20. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market capitalization of $321.40 billion, a P/E ratio of 58.47, a price-to-earnings-growth ratio of 2.93 and a beta of 1.29. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $348.86.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, topping the consensus estimate of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The company had revenue of $9.33 billion during the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter in the previous year, the company earned $1.63 EPS. Salesforce’s revenue was up 8.5% on a year-over-year basis. On average, equities research analysts forecast that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.48%. Salesforce’s dividend payout ratio (DPR) is presently 27.83%.

Insider Activity at Salesforce

In other Salesforce news, COO Brian Millham sold 60,522 shares of the stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $300.00, for a total value of $18,156,600.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $298.04, for a total transaction of $1,251,768.00. Following the completion of the transaction, the insider now directly owns 119,402 shares of the company’s stock, valued at $35,586,572.08. This trade represents a 3.40 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 133,183 shares of company stock worth $38,314,066. 3.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on CRM shares. FBN Securities raised Salesforce to a “strong-buy” rating in a research note on Thursday, August 29th. Stifel Nicolaus increased their price target on shares of Salesforce from $320.00 to $350.00 and gave the company a “buy” rating in a report on Monday, October 28th. TD Cowen boosted their target price on Salesforce from $290.00 to $340.00 and gave the company a “hold” rating in a research report on Thursday. Oppenheimer reissued an “outperform” rating and issued a $385.00 price objective (up previously from $330.00) on shares of Salesforce in a research note on Thursday. Finally, Phillip Securities reaffirmed an “accumulate” rating and issued a $305.00 price objective on shares of Salesforce in a research report on Friday, August 30th. Eight analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and a consensus target price of $332.11.

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.