Accurate Wealth Management LLC Buys 881 Shares of Salesforce, Inc. (NYSE:CRM)

Accurate Wealth Management LLC raised its stake in Salesforce, Inc. (NYSE:CRM) by 39.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,123 shares of the CRM provider’s stock after acquiring an additional 881 shares during the quarter. Accurate Wealth Management LLC’s holdings in Salesforce were worth $901,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of CRM. Capital Research Global Investors raised its holdings in Salesforce by 26.9% in the 1st quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock valued at $4,329,925,000 after acquiring an additional 3,044,611 shares during the period. GQG Partners LLC acquired a new position in shares of Salesforce during the 1st quarter worth approximately $910,220,000. Swedbank AB acquired a new position in shares of Salesforce during the 1st quarter worth approximately $874,748,000. Massachusetts Financial Services Co. MA grew its position in shares of Salesforce by 48.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,906,877 shares of the CRM provider’s stock worth $1,518,658,000 after purchasing an additional 1,922,674 shares in the last quarter. Finally, AMF Tjanstepension AB grew its position in shares of Salesforce by 376.1% during the 2nd quarter. AMF Tjanstepension AB now owns 1,442,453 shares of the CRM provider’s stock worth $370,873,000 after purchasing an additional 1,139,472 shares in the last quarter. 80.43% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Parker Harris sold 2,800 shares of Salesforce stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $241.22, for a total transaction of $675,416.00. Following the completion of the transaction, the insider now owns 117,581 shares of the company’s stock, valued at $28,362,888.82. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Salesforce news, insider R David Schmaier sold 1,155 shares of Salesforce stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total value of $295,425.90. Following the completion of the sale, the insider now directly owns 20,556 shares of the company’s stock, valued at approximately $5,257,813.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Parker Harris sold 2,800 shares of Salesforce stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $241.22, for a total transaction of $675,416.00. Following the completion of the sale, the insider now directly owns 117,581 shares of the company’s stock, valued at approximately $28,362,888.82. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 80,612 shares of company stock valued at $21,429,961 over the last quarter. Insiders own 3.20% of the company’s stock.

Salesforce Price Performance

CRM stock opened at $293.07 on Friday. The company has a fifty day moving average price of $266.65 and a 200-day moving average price of $263.77. The company has a market capitalization of $283.98 billion, a P/E ratio of 52.71, a PEG ratio of 2.61 and a beta of 1.30. Salesforce, Inc. has a 52-week low of $193.68 and a 52-week high of $318.71. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04.

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

Salesforce Dividend Announcement

The company also recently announced 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. This represents a $1.60 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date was Wednesday, September 18th. Salesforce’s dividend payout ratio is presently 28.78%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CRM shares. Roth Mkm restated a “buy” rating and set a $335.00 target price on shares of Salesforce in a research report on Thursday, August 29th. Phillip Securities restated an “accumulate” rating and set a $305.00 target price on shares of Salesforce in a research report on Friday, August 30th. Bank of America reiterated a “buy” rating and set a $325.00 price target on shares of Salesforce in a research report on Friday, September 6th. FBN Securities upgraded shares of Salesforce to a “strong-buy” rating in a research report on Thursday, August 29th. Finally, Robert W. Baird increased their price target on shares of Salesforce from $295.00 to $315.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Nine analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and an average target price of $311.66.

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.