Moody Lynn & Lieberson LLC Lowers Stock Position in Salesforce, Inc. (NYSE:CRM)

Moody Lynn & Lieberson LLC lowered its position in shares of Salesforce, Inc. (NYSE:CRM) by 5.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 5,006 shares of the CRM provider’s stock after selling 290 shares during the period. Moody Lynn & Lieberson LLC’s holdings in Salesforce were worth $1,370,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CRM. Wealthcare Advisory Partners LLC raised its position in shares of Salesforce by 3.5% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 6,763 shares of the CRM provider’s stock worth $2,037,000 after purchasing an additional 228 shares during the last quarter. Artemis Investment Management LLP lifted its position in Salesforce by 0.5% in the 1st quarter. Artemis Investment Management LLP now owns 33,650 shares of the CRM provider’s stock valued at $10,129,000 after acquiring an additional 152 shares in the last quarter. Register Financial Advisors LLC purchased a new stake in Salesforce during the 1st quarter valued at $192,000. Kathmere Capital Management LLC bought a new stake in shares of Salesforce in the 1st quarter worth $227,000. Finally, Norway Savings Bank raised its stake in shares of Salesforce by 5.5% in the first quarter. Norway Savings Bank now owns 8,344 shares of the CRM provider’s stock worth $2,513,000 after purchasing an additional 438 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on CRM. Sanford C. Bernstein upped their target price on shares of Salesforce from $234.00 to $236.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Robert W. Baird increased their price objective on shares of Salesforce from $295.00 to $315.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Oppenheimer reaffirmed an “outperform” rating and issued a $330.00 target price (up previously from $300.00) on shares of Salesforce in a research report on Thursday. Truist Financial reissued a “buy” rating and set a $315.00 price target (up from $300.00) on shares of Salesforce in a report on Thursday, September 19th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $335.00 price objective on shares of Salesforce in a report on Thursday, August 29th. Nine investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $312.51.

Salesforce Stock Up 0.8 %

NYSE CRM opened at $286.74 on Friday. The stock’s 50 day moving average is $268.70 and its 200 day moving average is $263.24. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. Salesforce, Inc. has a 12 month low of $193.68 and a 12 month high of $318.71. The stock has a market cap of $277.85 billion, a PE ratio of 51.57, a P/E/G ratio of 2.61 and a beta of 1.30.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The company had revenue of $9.33 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same period in the previous year, the firm earned $1.63 EPS. The firm’s revenue was up 8.5% compared to the same quarter last year. Research analysts predict that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders 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 dividend yield of 0.56%. Salesforce’s dividend payout ratio (DPR) is 28.78%.

Insider Transactions at Salesforce

In other news, CAO Sundeep G. Reddy sold 413 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $117,824.77. Following the sale, the chief accounting officer now directly owns 7,006 shares of the company’s stock, valued at $1,998,741.74. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Amy E. Weaver sold 897 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $255,905.13. Following the sale, the chief financial officer now directly owns 52,930 shares of the company’s stock, valued at $15,100,399.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Sundeep G. Reddy sold 413 shares of the business’s stock in a transaction that occurred 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 directly owns 7,006 shares in the company, valued at approximately $1,998,741.74. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 86,812 shares of company stock valued at $23,418,916 in the last ninety days. 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.