Callahan Advisors LLC Buys 1,909 Shares of Salesforce, Inc. (NYSE:CRM)

Callahan Advisors LLC increased its stake in shares of Salesforce, Inc. (NYSE:CRM) by 6.8% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 29,989 shares of the CRM provider’s stock after acquiring an additional 1,909 shares during the period. Callahan Advisors LLC’s holdings in Salesforce were worth $8,208,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ruedi Wealth Management Inc. lifted its position in shares of Salesforce by 186.7% during the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after buying an additional 56 shares during the period. Piscataqua Savings Bank lifted its position in shares of Salesforce by 2,400.0% during the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after buying an additional 96 shares during the period. Clear Investment Research LLC lifted its position in shares of Salesforce by 816.7% during the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after buying an additional 98 shares during the period. Godsey & Gibb Inc. lifted its position in shares of Salesforce by 300.0% during the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after buying an additional 90 shares during the period. Finally, Strategic Investment Solutions Inc. IL bought a new position in shares of Salesforce during the 2nd quarter worth approximately $33,000. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Performance

CRM stock opened at $297.53 on Wednesday. The business’s 50-day moving average price is $274.34 and its two-hundred day moving average price is $263.56. 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 has a market cap of $284.44 billion, a PE ratio of 51.74, a P/E/G ratio of 2.67 and a beta of 1.29. Salesforce, Inc. has a 1-year low of $204.69 and a 1-year high of $318.71.

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

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders 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 yield of 0.54%. Salesforce’s dividend payout ratio is presently 27.83%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CRM. Citigroup raised their price target on Salesforce from $260.00 to $290.00 and gave the company a “neutral” rating in a report on Monday, August 26th. Evercore ISI reaffirmed an “outperform” rating and set a $300.00 price target on shares of Salesforce in a report on Monday, August 26th. Bank of America reaffirmed a “buy” rating and set a $325.00 price target on shares of Salesforce in a report on Friday, September 6th. Piper Sandler cut Salesforce from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 10th. Finally, Northland Capmk raised Salesforce from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 2nd. Nine analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $313.37.

Insiders Place Their Bets

In other news, COO Brian Millham sold 60,522 shares of the business’s 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CAO Sundeep G. Reddy sold 413 shares of the business’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 $117,824.77. Following the sale, the chief accounting officer now directly owns 7,006 shares in the company, valued at $1,998,741.74. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Brian Millham sold 60,522 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $300.00, for a total value of $18,156,600.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 146,003 shares of company stock worth $41,494,084. Corporate insiders own 3.20% of the company’s stock.

Salesforce Company 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.