Hohimer Wealth Management LLC Purchases Shares of 4,387 Salesforce, Inc. (NYSE:CRM)

Hohimer Wealth Management LLC purchased a new stake in shares of Salesforce, Inc. (NYSE:CRM) in the second quarter, Holdings Channel reports. The firm purchased 4,387 shares of the CRM provider’s stock, valued at approximately $1,128,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. JFS Wealth Advisors LLC boosted its holdings in Salesforce by 11.4% during the 4th quarter. JFS Wealth Advisors LLC now owns 353 shares of the CRM provider’s stock worth $93,000 after acquiring an additional 36 shares during the last quarter. Fox Hill Wealth Management boosted its holdings in shares of Salesforce by 4.0% in the 1st quarter. Fox Hill Wealth Management now owns 985 shares of the CRM provider’s stock worth $297,000 after buying an additional 38 shares during the last quarter. Pinnacle Wealth Planning Services Inc. grew its position in Salesforce by 0.8% during the first quarter. Pinnacle Wealth Planning Services Inc. now owns 4,946 shares of the CRM provider’s stock valued at $1,490,000 after buying an additional 38 shares during the period. Glassman Wealth Services grew its position in Salesforce by 2.9% during the fourth quarter. Glassman Wealth Services now owns 1,369 shares of the CRM provider’s stock valued at $360,000 after buying an additional 39 shares during the period. Finally, Blue Barn Wealth LLC grew its position in Salesforce by 1.8% during the first quarter. Blue Barn Wealth LLC now owns 2,207 shares of the CRM provider’s stock valued at $665,000 after buying an additional 39 shares during the period. Institutional investors own 80.43% of the company’s stock.

Salesforce Price Performance

CRM traded down $1.15 on Thursday, reaching $246.53. The company had a trading volume of 1,020,624 shares, compared to its average volume of 6,588,441. The business has a 50 day simple moving average of $254.92 and a 200 day simple moving average of $270.28. The company has a market cap of $238.89 billion, a price-to-earnings ratio of 44.33, a P/E/G ratio of 2.22 and a beta of 1.29. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.11 and a current ratio of 1.04. Salesforce, Inc. has a 52-week low of $193.68 and a 52-week high of $318.71.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS 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 the consensus estimate of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The business’s revenue was up 8.5% compared to the same quarter last year. During the same period last year, the firm posted $1.63 earnings per share. As a group, sell-side analysts anticipate that Salesforce, Inc. will post 7.52 EPS for the current year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Tuesday, July 9th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.65%. The ex-dividend date of this dividend was Tuesday, July 9th. Salesforce’s dividend payout ratio (DPR) is presently 28.78%.

Insiders Place Their Bets

In other Salesforce news, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $262.90, for a total transaction of $1,104,180.00. Following the transaction, the insider now directly owns 117,581 shares of the company’s stock, valued at $30,912,044.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $242.49, for a total value of $3,637,350.00. Following the transaction, the chief executive officer now owns 12,210,327 shares in the company, valued at $2,960,882,194.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $262.90, for a total transaction of $1,104,180.00. Following the completion of the transaction, the insider now owns 117,581 shares in the company, valued at approximately $30,912,044.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 95,164 shares of company stock valued at $23,760,225. 3.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Raymond James increased their price target on shares of Salesforce from $325.00 to $350.00 and gave the company a “strong-buy” rating in a research report on Thursday, August 29th. Phillip Securities restated an “accumulate” rating and set a $305.00 price target on shares of Salesforce in a research report on Friday, August 30th. Macquarie reduced their price target on shares of Salesforce from $330.00 to $275.00 and set an “outperform” rating for the company in a research report on Friday, May 31st. FBN Securities upgraded shares of Salesforce to a “strong-buy” rating in a research report on Thursday, August 29th. Finally, Roth Mkm reiterated a “buy” rating and set a $335.00 target price on shares of Salesforce in a research report on Thursday, August 29th. Eight analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus price target of $304.41.

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.