Moors & Cabot Inc. Has $10.01 Million Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Moors & Cabot Inc. raised its holdings in Salesforce, Inc. (NYSE:CRM) by 1.5% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 38,924 shares of the CRM provider’s stock after acquiring an additional 572 shares during the period. Moors & Cabot Inc.’s holdings in Salesforce were worth $10,007,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Citizens Financial Group Inc. RI increased its position in Salesforce by 268.7% during the second quarter. Citizens Financial Group Inc. RI now owns 81,002 shares of the CRM provider’s stock worth $20,826,000 after acquiring an additional 59,032 shares during the period. Mesirow Financial Investment Management Inc. grew its position in Salesforce by 0.3% in the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 91,754 shares of the CRM provider’s stock worth $23,591,000 after purchasing an additional 255 shares during the last quarter. One Capital Management LLC increased its holdings in shares of Salesforce by 12.9% during the 2nd quarter. One Capital Management LLC now owns 54,101 shares of the CRM provider’s stock worth $13,909,000 after purchasing an additional 6,181 shares during the period. Sierra Summit Advisors LLC raised its position in shares of Salesforce by 16.6% during the second quarter. Sierra Summit Advisors LLC now owns 33,578 shares of the CRM provider’s stock valued at $8,633,000 after buying an additional 4,779 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Salesforce by 22.7% in the second quarter. Dimensional Fund Advisors LP now owns 3,492,583 shares of the CRM provider’s stock valued at $897,935,000 after buying an additional 646,127 shares during the period. 80.43% of the stock is owned by institutional investors.

Salesforce Stock Performance

Salesforce stock opened at $256.81 on Tuesday. Salesforce, Inc. has a 1 year low of $193.68 and a 1 year high of $318.71. The company’s 50-day moving average is $253.55 and its two-hundred day moving average is $267.55. 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 company has a market cap of $248.85 billion, a PE ratio of 46.19, a PEG ratio of 2.26 and a beta of 1.29.

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

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.62%. The ex-dividend date of this dividend is Wednesday, September 18th. Salesforce’s payout ratio is 28.78%.

Insiders Place Their Bets

In other news, insider Parker Harris sold 2,800 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $241.22, for a total value of $675,416.00. Following the completion of the sale, the insider now directly owns 117,581 shares of the company’s stock, valued at approximately $28,362,888.82. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Salesforce news, insider Sabastian Niles sold 2,484 shares of Salesforce stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $244.81, for a total transaction of $608,108.04. Following the transaction, the insider now directly owns 828 shares in the company, valued at $202,702.68. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Parker Harris sold 2,800 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $241.22, for a total value of $675,416.00. Following the completion of the sale, the insider now owns 117,581 shares of the company’s stock, valued at $28,362,888.82. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 62,376 shares of company stock worth $15,878,005. Insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CRM. Phillip Securities restated an “accumulate” rating and set a $305.00 price target on shares of Salesforce in a research note on Friday, August 30th. BMO Capital Markets upped their target price on Salesforce from $265.00 to $305.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Truist Financial reaffirmed a “buy” rating and issued a $300.00 target price on shares of Salesforce in a research report on Friday, August 30th. Barclays lowered their price target on shares of Salesforce from $355.00 to $305.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. Finally, Canaccord Genuity Group raised their price objective on shares of Salesforce from $300.00 to $315.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Nine investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, Salesforce has an average rating of “Moderate Buy” and a consensus price target of $305.55.

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.