Salesforce, Inc. (NYSE:CRM) is Sawyer & Company Inc’s 9th Largest Position

Sawyer & Company Inc boosted its position in shares of Salesforce, Inc. (NYSE:CRM) by 0.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,225 shares of the CRM provider’s stock after acquiring an additional 62 shares during the period. Salesforce comprises 2.4% of Sawyer & Company Inc’s investment portfolio, making the stock its 9th biggest holding. Sawyer & Company Inc’s holdings in Salesforce were worth $6,427,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of CRM. State Street Corp grew its stake in shares of Salesforce by 1.8% during the third quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock worth $13,432,855,000 after purchasing an additional 864,193 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Salesforce by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock worth $5,395,132,000 after acquiring an additional 257,501 shares in the last quarter. Fisher Asset Management LLC boosted its position in shares of Salesforce by 2.6% during the 3rd quarter. Fisher Asset Management LLC now owns 12,276,551 shares of the CRM provider’s stock worth $3,360,215,000 after acquiring an additional 314,530 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of Salesforce by 2.2% in the 2nd quarter. Legal & General Group Plc now owns 8,329,687 shares of the CRM provider’s stock valued at $2,141,562,000 after acquiring an additional 176,641 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Salesforce by 1.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,964,702 shares of the CRM provider’s stock worth $1,632,599,000 after acquiring an additional 57,825 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Stock Performance

Shares of CRM opened at $321.01 on Thursday. The company has a market capitalization of $307.21 billion, a price-to-earnings ratio of 52.80, a PEG ratio of 3.20 and a beta of 1.30. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The company’s 50 day simple moving average is $336.76 and its 200 day simple moving average is $290.66.

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

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were issued a dividend of $0.40 per share. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.50%. Salesforce’s payout ratio is currently 26.32%.

Insider Transactions at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $117,824.77. Following the transaction, the chief accounting officer now owns 7,006 shares in the company, valued at $1,998,741.74. This trade represents a 5.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Miguel Milano sold 719 shares of the company’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 sale, the insider now owns 4,659 shares of the company’s stock, valued at approximately $1,597,151.79. The trade was a 13.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,177,617 shares of company stock worth $403,542,975 in the last three months. Company insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CRM. KeyCorp upgraded shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price target on the stock in a research note on Friday, December 13th. Jefferies Financial Group increased their target price on shares of Salesforce from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Canaccord Genuity Group boosted their price target on shares of Salesforce from $315.00 to $415.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Truist Financial reiterated a “buy” rating and set a $400.00 target price (up previously from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. Finally, Macquarie reaffirmed a “neutral” rating and set a $370.00 price target on shares of Salesforce in a research report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty have given a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $376.05.

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.