Hudson Valley Investment Advisors Inc. ADV Has $12.20 Million Position in Salesforce, Inc. (NYSE:CRM)

Hudson Valley Investment Advisors Inc. ADV trimmed its holdings in Salesforce, Inc. (NYSE:CRM) by 8.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,491 shares of the CRM provider’s stock after selling 3,252 shares during the quarter. Salesforce comprises about 1.4% of Hudson Valley Investment Advisors Inc. ADV’s portfolio, making the stock its 18th biggest position. Hudson Valley Investment Advisors Inc. ADV’s holdings in Salesforce were worth $12,200,000 at the end of the most recent quarter.

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

Insiders Place Their Bets

In other Salesforce news, CFO Amy E. Weaver sold 897 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $255,905.13. Following the transaction, the chief financial officer now directly owns 52,930 shares in the company, valued at $15,100,399.70. This represents a 1.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $117,824.77. Following the sale, the chief accounting officer now owns 7,006 shares of the company’s stock, valued at approximately $1,998,741.74. This trade represents a 5.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,181,817 shares of company stock worth $404,760,429 in the last quarter. 3.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CRM. The Goldman Sachs Group raised their target price on Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Loop Capital boosted their price objective on Salesforce from $340.00 to $360.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. BMO Capital Markets increased their target price on Salesforce from $385.00 to $425.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. DA Davidson boosted their price target on shares of Salesforce from $250.00 to $300.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Finally, Guggenheim downgraded shares of Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 price objective on the stock. in a report on Monday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty have given a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and an average target price of $376.05.

Salesforce Trading Up 0.5 %

Shares of Salesforce stock opened at $326.67 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a market capitalization of $312.62 billion, a P/E ratio of 53.73, a P/E/G ratio of 3.21 and a beta of 1.30. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The stock’s 50-day simple moving average is $335.36 and its 200 day simple moving average is $288.53.

Salesforce (NYSE:CRM) last announced its quarterly 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). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The business had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. During the same quarter in the previous year, the company posted $1.62 earnings per share. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. As a group, research analysts anticipate that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.49%. Salesforce’s dividend payout ratio (DPR) is 26.32%.

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.