UNIVEST FINANCIAL Corp Sells 143 Shares of Salesforce, Inc. (NYSE:CRM)

UNIVEST FINANCIAL Corp reduced its stake in Salesforce, Inc. (NYSE:CRM) by 0.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,194 shares of the CRM provider’s stock after selling 143 shares during the quarter. Salesforce comprises approximately 1.4% of UNIVEST FINANCIAL Corp’s holdings, making the stock its 22nd largest position. UNIVEST FINANCIAL Corp’s holdings in Salesforce were worth $4,935,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ruedi Wealth Management Inc. boosted its holdings in Salesforce by 186.7% in the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after acquiring an additional 56 shares in the last quarter. Piscataqua Savings Bank raised its position in shares of 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 last quarter. Red Tortoise LLC bought a new position in Salesforce in the 1st quarter worth about $33,000. Stephens Consulting LLC boosted its stake in Salesforce by 3,125.0% in the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 125 shares in the last quarter. Finally, Creekmur Asset Management LLC bought a new stake in Salesforce during the 4th quarter valued at about $35,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Trading Down 0.9 %

Shares of Salesforce stock opened at $244.02 on Friday. Salesforce, Inc. has a fifty-two week low of $193.68 and a fifty-two week high of $318.71. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.11 and a current ratio of 1.04. The company has a market capitalization of $236.46 billion, a P/E ratio of 43.89, a P/E/G ratio of 2.22 and a beta of 1.29. The company has a fifty day moving average of $254.52 and a 200 day moving average of $269.79.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, beating the consensus estimate of $2.36 by $0.20. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The business had revenue of $9.33 billion for the quarter, compared to the consensus estimate of $9.22 billion. During the same period in the previous year, the business earned $1.63 earnings per share. The business’s revenue was up 8.5% on a year-over-year basis. On average, sell-side analysts anticipate that Salesforce, Inc. will post 7.52 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date of this dividend is Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is currently 28.78%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CRM. DA Davidson upped their target price on shares of Salesforce from $230.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Loop Capital lifted their target price on Salesforce from $240.00 to $270.00 and gave the stock a “hold” rating in a report on Thursday, August 29th. Bank of America reaffirmed a “buy” rating and set a $325.00 price target on shares of Salesforce in a report on Friday. TD Cowen lifted their price objective on Salesforce from $285.00 to $290.00 and gave the stock a “hold” rating in a report on Thursday, August 29th. Finally, Mizuho lowered their target price on shares of Salesforce from $345.00 to $300.00 and set a “buy” rating on the stock in a research note on Thursday, May 30th. Eight research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $304.41.

Insider Activity

In related news, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $241.74, for a total transaction of $3,626,100.00. Following the completion of the transaction, the chief executive officer now owns 12,162,457 shares in the company, valued at $2,940,152,355.18. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $241.74, for a total transaction of $3,626,100.00. Following the sale, the chief executive officer now directly owns 12,162,457 shares of the company’s stock, valued at approximately $2,940,152,355.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Amy E. Weaver sold 897 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total value of $229,434.66. Following the transaction, the chief financial officer now owns 51,109 shares of the company’s stock, valued at $13,072,660.02. The disclosure for this sale can be found here. Insiders have sold a total of 83,692 shares of company stock worth $21,006,957 over the last quarter. Insiders own 3.20% 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.