Catalyst Financial Partners LLC Buys 133 Shares of Salesforce, Inc. (NYSE:CRM)

Catalyst Financial Partners LLC increased its position in Salesforce, Inc. (NYSE:CRM) by 2.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,009 shares of the CRM provider’s stock after acquiring an additional 133 shares during the quarter. Catalyst Financial Partners LLC’s holdings in Salesforce were worth $1,371,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CRM. Tempus Wealth Planning LLC lifted its holdings in Salesforce by 5.6% in the 1st quarter. Tempus Wealth Planning LLC now owns 937 shares of the CRM provider’s stock worth $282,000 after purchasing an additional 50 shares in the last quarter. Marshall Financial Group LLC bought a new position in shares of Salesforce during the first quarter worth $259,000. Veracity Capital LLC grew its stake in Salesforce by 33.1% during the first quarter. Veracity Capital LLC now owns 1,366 shares of the CRM provider’s stock valued at $411,000 after acquiring an additional 340 shares in the last quarter. FORVIS Wealth Advisors LLC increased its holdings in Salesforce by 18.4% in the 1st quarter. FORVIS Wealth Advisors LLC now owns 1,650 shares of the CRM provider’s stock valued at $497,000 after acquiring an additional 257 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC boosted its holdings in shares of Salesforce by 39.9% during the 1st quarter. Ashton Thomas Private Wealth LLC now owns 12,979 shares of the CRM provider’s stock valued at $3,909,000 after purchasing an additional 3,704 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In other Salesforce news, COO Brian Millham sold 60,522 shares of the stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $300.00, for a total value of $18,156,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Salesforce news, COO Brian Millham sold 60,522 shares of the company’s stock in a transaction that occurred 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Maynard G. Webb, Jr. sold 9,170 shares of Salesforce stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $276.32, for a total transaction of $2,533,854.40. Following the sale, the director now owns 1,363 shares of the company’s stock, valued at $376,624.16. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 148,303 shares of company stock valued at $42,024,385 in the last quarter. 3.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Robert W. Baird raised their price target on Salesforce from $295.00 to $315.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Evercore ISI reaffirmed an “outperform” rating and set a $300.00 price target on shares of Salesforce in a research note on Monday, August 26th. FBN Securities raised shares of Salesforce to a “strong-buy” rating in a research report on Thursday, August 29th. Loop Capital reissued a “hold” rating and issued a $270.00 price objective on shares of Salesforce in a research note on Thursday, September 19th. Finally, 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. Nine investment 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 currently has an average rating of “Moderate Buy” and a consensus target price of $313.37.

Salesforce Price Performance

CRM opened at $296.62 on Thursday. The firm has a market capitalization of $283.57 billion, a PE ratio of 51.59, a price-to-earnings-growth ratio of 2.61 and a beta of 1.30. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. The business’s 50-day moving average is $271.75 and its two-hundred day moving average is $263.02. Salesforce, Inc. has a 1 year low of $198.66 and a 1 year high of $318.71.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. The firm had revenue of $9.33 billion for the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.63 EPS. Research analysts anticipate that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.54%. Salesforce’s dividend payout ratio is presently 27.83%.

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.