Beaird Harris Wealth Management LLC Grows Holdings in Salesforce, Inc. (NYSE:CRM)

Beaird Harris Wealth Management LLC raised its position in Salesforce, Inc. (NYSE:CRM) by 1,639.5% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 661 shares of the CRM provider’s stock after purchasing an additional 623 shares during the period. Beaird Harris Wealth Management LLC’s holdings in Salesforce were worth $181,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nabity Jensen Investment Management Inc bought a new position in Salesforce in the 3rd quarter valued at $1,215,000. Prime Capital Investment Advisors LLC boosted its holdings in shares of Salesforce by 13.6% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock worth $15,885,000 after buying an additional 6,938 shares during the last quarter. Aljian Capital Management LLC grew its position in Salesforce by 16.1% during the third quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock valued at $3,629,000 after buying an additional 1,834 shares during the period. AIA Group Ltd increased its holdings in Salesforce by 8.9% during the third quarter. AIA Group Ltd now owns 24,028 shares of the CRM provider’s stock worth $6,577,000 after buying an additional 1,962 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Salesforce by 1.3% in the third quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock valued at $5,395,132,000 after acquiring an additional 257,501 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In related news, insider Miguel Milano sold 719 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $342.81, for a total value of $246,480.39. Following the completion of the sale, the insider now owns 4,659 shares of the company’s stock, valued at $1,597,151.79. This trade represents a 13.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Brian Millham sold 60,522 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $300.00, for a total transaction of $18,156,600.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 138,498 shares of company stock worth $40,983,349. Company insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CRM shares. Morgan Stanley raised their price target on shares of Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Barclays increased their price target on Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Jefferies Financial Group boosted their price objective on Salesforce from $400.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Sanford C. Bernstein increased their target price on shares of Salesforce from $234.00 to $236.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $415.00 price objective (up from $385.00) on shares of Salesforce in a report on Wednesday, December 4th. Eight equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $377.24.

Salesforce Stock Up 0.9 %

CRM opened at $358.19 on Friday. The company has a market cap of $342.79 billion, a P/E ratio of 58.91, a P/E/G ratio of 3.21 and a beta of 1.30. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The business’s 50-day moving average price is $316.14 and its 200-day moving average price is $275.00. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

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

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date is Wednesday, December 18th. Salesforce’s payout ratio is 26.32%.

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.