EverSource Wealth Advisors LLC Has $1.60 Million Stake in Salesforce, Inc. (NYSE:CRM)

EverSource Wealth Advisors LLC raised its position in shares of Salesforce, Inc. (NYSE:CRM) by 7.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,094 shares of the CRM provider’s stock after acquiring an additional 414 shares during the period. EverSource Wealth Advisors LLC’s holdings in Salesforce were worth $1,604,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Bear Mountain Capital Inc. bought a new stake in Salesforce during the fourth quarter valued at about $26,000. Signature Resources Capital Management LLC bought a new stake in shares of Salesforce in the fourth quarter valued at about $26,000. Kathleen S. Wright Associates Inc. bought a new stake in shares of Salesforce in the fourth quarter valued at about $31,000. Pacifica Partners Inc. lifted its stake in shares of Salesforce by 333.3% in the fourth quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock valued at $33,000 after buying an additional 100 shares during the period. Finally, BKM Wealth Management LLC bought a new stake in shares of Salesforce in the fourth quarter valued at about $34,000. 80.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Salesforce

In other news, CFO Amy E. Weaver sold 7,075 shares of the business’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $309.32, for a total transaction of $2,188,439.00. Following the transaction, the chief financial officer now directly owns 38,483 shares in the company, valued at approximately $11,903,561.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Amy E. Weaver sold 7,075 shares of the business’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $309.32, for a total transaction of $2,188,439.00. Following the transaction, the chief financial officer now directly owns 38,483 shares in the company, valued at approximately $11,903,561.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Brian Millham sold 14,517 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $292.50, for a total transaction of $4,246,222.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 640,499 shares of company stock worth $186,305,734. Insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CRM. Canaccord Genuity Group reiterated a “buy” rating and issued a $350.00 target price on shares of Salesforce in a research note on Thursday, March 7th. Argus increased their target price on shares of Salesforce from $290.00 to $354.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. UBS Group increased their target price on shares of Salesforce from $285.00 to $310.00 and gave the company a “neutral” rating in a research note on Friday, February 16th. Robert W. Baird raised their price target on shares of Salesforce from $310.00 to $355.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $350.00 price target (up previously from $325.00) on shares of Salesforce in a research note on Friday, April 12th. Nine research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and an average target price of $310.61.

Salesforce Stock Up 0.3 %

CRM traded up $0.77 during trading on Wednesday, hitting $284.53. The company had a trading volume of 1,479,697 shares, compared to its average volume of 5,292,312. The company has a market capitalization of $275.43 billion, a PE ratio of 68.04, a PEG ratio of 2.21 and a beta of 1.30. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71. The firm’s 50-day moving average price is $288.30 and its 200 day moving average price is $273.61. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.06. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The firm had revenue of $9.29 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same period in the previous year, the business earned $1.01 EPS. The company’s revenue was up 10.8% compared to the same quarter last year. As a group, equities analysts expect that Salesforce, Inc. will post 7.45 earnings per share for the current year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were paid a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.60 annualized dividend and a yield of 0.56%. Salesforce’s payout ratio is currently 9.52%.

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.