Meadow Creek Wealth Advisors LLC Has $831,000 Position in Salesforce, Inc. (NYSE:CRM)

Meadow Creek Wealth Advisors LLC reduced its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 2.0% in the third quarter, HoldingsChannel.com reports. The fund owned 3,036 shares of the CRM provider’s stock after selling 62 shares during the quarter. Meadow Creek Wealth Advisors LLC’s holdings in Salesforce were worth $831,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Prentice Wealth Management LLC lifted its holdings in Salesforce by 1.5% in the third quarter. Prentice Wealth Management LLC now owns 2,506 shares of the CRM provider’s stock worth $686,000 after buying an additional 37 shares during the period. Fox Hill Wealth Management lifted its holdings in Salesforce by 4.0% in the first quarter. Fox Hill Wealth Management now owns 985 shares of the CRM provider’s stock worth $297,000 after buying an additional 38 shares during the period. Pinnacle Wealth Planning Services Inc. lifted its holdings in Salesforce by 0.8% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 4,946 shares of the CRM provider’s stock worth $1,490,000 after buying an additional 38 shares during the period. Fulton Bank N.A. lifted its holdings in Salesforce by 0.4% in the third quarter. Fulton Bank N.A. now owns 9,269 shares of the CRM provider’s stock worth $2,537,000 after buying an additional 38 shares during the period. Finally, CRA Financial Services LLC lifted its holdings in Salesforce by 3.4% in the third quarter. CRA Financial Services LLC now owns 1,160 shares of the CRM provider’s stock worth $318,000 after buying an additional 38 shares during the period. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Trading Down 0.1 %

Shares of CRM stock opened at $287.90 on Wednesday. Salesforce, Inc. has a 12-month low of $193.68 and a 12-month high of $318.71. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. The firm’s 50 day moving average is $268.12 and its 200 day moving average is $263.09. The stock has a market capitalization of $278.98 billion, a P/E ratio of 51.84, a P/E/G ratio of 2.61 and a beta of 1.30.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (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 for the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter last year, the company posted $1.63 earnings per share. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. Research analysts expect that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.56%. The ex-dividend date was Wednesday, September 18th. Salesforce’s dividend payout ratio is presently 28.78%.

Insider Transactions at Salesforce

In other news, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $257.28, for a total transaction of $1,080,576.00. Following the transaction, the insider now owns 117,581 shares in the company, valued at $30,251,239.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Sabastian Niles sold 2,484 shares of Salesforce stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $244.81, for a total transaction of $608,108.04. Following the transaction, the insider now owns 828 shares in the company, valued at $202,702.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $257.28, for a total transaction of $1,080,576.00. Following the transaction, the insider now owns 117,581 shares in the company, valued at $30,251,239.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 85,502 shares of company stock worth $23,045,186 in the last 90 days. 3.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have commented on CRM shares. Loop Capital restated a “hold” rating and issued a $270.00 price objective on shares of Salesforce in a report on Thursday, September 19th. BMO Capital Markets raised their price objective on shares of Salesforce from $265.00 to $305.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Bank of America reaffirmed a “buy” rating and set a $325.00 target price on shares of Salesforce in a research note on Friday, September 6th. UBS Group raised their target price on shares of Salesforce from $250.00 to $275.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Finally, Erste Group Bank reaffirmed a “hold” rating on shares of Salesforce in a research note on Wednesday, September 11th. Nine equities research 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. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $311.66.

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.