Wesbanco Bank Inc. Raises Stake in Salesforce, Inc. (NYSE:CRM)

Wesbanco Bank Inc. increased its stake in shares of Salesforce, Inc. (NYSE:CRM) by 0.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 96,410 shares of the CRM provider’s stock after buying an additional 662 shares during the period. Salesforce comprises 1.1% of Wesbanco Bank Inc.’s portfolio, making the stock its 17th largest holding. Wesbanco Bank Inc.’s holdings in Salesforce were worth $32,233,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC increased its holdings in Salesforce by 8.4% during the 4th quarter. Janney Montgomery Scott LLC now owns 217,341 shares of the CRM provider’s stock valued at $72,664,000 after acquiring an additional 16,847 shares in the last quarter. Bartlett & CO. Wealth Management LLC lifted its stake in Salesforce by 1.9% in the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 250,845 shares of the CRM provider’s stock valued at $83,964,000 after buying an additional 4,654 shares in the last quarter. Phillips Wealth Planners LLC increased its position in Salesforce by 7.1% during the fourth quarter. Phillips Wealth Planners LLC now owns 2,020 shares of the CRM provider’s stock worth $642,000 after buying an additional 134 shares in the last quarter. Kelleher Financial Advisors acquired a new position in shares of Salesforce in the fourth quarter worth $226,000. Finally, Marino Stram & Associates LLC lifted its position in shares of Salesforce by 5.6% in the fourth quarter. Marino Stram & Associates LLC now owns 2,257 shares of the CRM provider’s stock valued at $755,000 after acquiring an additional 120 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $298.04, for a total transaction of $1,251,768.00. Following the sale, the insider now owns 119,402 shares in the company, valued at approximately $35,586,572.08. This represents a 3.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Sundeep G. Reddy sold 500 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $290.23, for a total transaction of $145,115.00. Following the sale, the chief accounting officer now owns 6,506 shares of the company’s stock, valued at $1,888,236.38. This trade represents a 7.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,171,198 shares of company stock valued at $401,945,558 over the last three months. 3.20% of the stock is owned by insiders.

Salesforce Stock Up 1.8 %

Shares of CRM stock opened at $332.67 on Thursday. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The stock has a market cap of $318.37 billion, a P/E ratio of 54.72, a price-to-earnings-growth ratio of 2.95 and a beta of 1.30. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a fifty day moving average price of $336.68 and a 200 day moving average price of $292.92.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The company had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.62 earnings per share. Analysts predict that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date was Wednesday, December 18th. Salesforce’s dividend payout ratio is presently 26.32%.

Wall Street Analysts Forecast Growth

CRM has been the topic of several analyst reports. Needham & Company LLC raised their price target on shares of Salesforce from $375.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Erste Group Bank upgraded Salesforce from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Wells Fargo & Company upped their price objective on shares of Salesforce from $275.00 to $330.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 12th. JPMorgan Chase & Co. boosted their target price on shares of Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, Guggenheim lowered shares of Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 price target on the stock. in a report on Monday, January 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $377.63.

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.