Accel Wealth Management Sells 161 Shares of Salesforce, Inc. (NYSE:CRM)

Accel Wealth Management cut its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 7.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,123 shares of the CRM provider’s stock after selling 161 shares during the period. Accel Wealth Management’s holdings in Salesforce were worth $710,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. State Street Corp lifted its position in Salesforce by 1.8% during the third quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock valued at $13,432,855,000 after acquiring an additional 864,193 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Salesforce by 1.3% during the third quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock worth $5,395,132,000 after purchasing an additional 257,501 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Salesforce by 2.6% during the 3rd quarter. Fisher Asset Management LLC now owns 12,276,551 shares of the CRM provider’s stock valued at $3,360,215,000 after purchasing an additional 314,530 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Salesforce by 2.2% in the 2nd quarter. Legal & General Group Plc now owns 8,329,687 shares of the CRM provider’s stock worth $2,141,562,000 after purchasing an additional 176,641 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in Salesforce by 1.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,964,702 shares of the CRM provider’s stock worth $1,632,599,000 after buying an additional 57,825 shares during the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Price Performance

Shares of CRM opened at $333.47 on Friday. The business’s 50-day moving average is $336.73 and its 200-day moving average is $294.01. 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 company has a market capitalization of $319.13 billion, a price-to-earnings ratio of 54.85, a P/E/G ratio of 3.01 and a beta of 1.30. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00.

Salesforce (NYSE:CRM) last issued its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The firm had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.62 EPS. Equities research analysts expect that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Investors 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 payout ratio is 26.32%.

Insider Buying and Selling

In other news, COO Brian Millham sold 708 shares of the company’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $235,254.24. Following the completion of the transaction, the chief operating officer now directly owns 1,239 shares in the company, valued at $411,694.92. The trade was a 36.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Sundeep G. Reddy sold 500 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $290.23, for a total transaction of $145,115.00. Following the transaction, the chief accounting officer now owns 6,506 shares of the company’s stock, valued at approximately $1,888,236.38. The trade was a 7.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,173,891 shares of company stock worth $402,840,388. 3.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CRM shares. UBS Group increased their price objective on shares of Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. KeyCorp raised shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price target for the company in a report on Friday, December 13th. Erste Group Bank raised shares of Salesforce from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Jefferies Financial Group upped their target price on Salesforce from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, Loop Capital lifted their price target on Salesforce from $340.00 to $360.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have given a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and an average price target 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.