Simmons Bank Raises Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Simmons Bank lifted its position in Salesforce, Inc. (NYSE:CRM) by 2.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,872 shares of the CRM provider’s stock after buying an additional 907 shares during the period. Simmons Bank’s holdings in Salesforce were worth $9,271,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Souders Financial Advisors purchased a new stake in shares of Salesforce in the 1st quarter worth $226,000. TBH Global Asset Management LLC increased its holdings in Salesforce by 25.7% in the 1st quarter. TBH Global Asset Management LLC now owns 2,156 shares of the CRM provider’s stock worth $649,000 after acquiring an additional 441 shares in the last quarter. Kingsview Wealth Management LLC raised its stake in Salesforce by 10.0% during the 1st quarter. Kingsview Wealth Management LLC now owns 93,204 shares of the CRM provider’s stock worth $28,071,000 after acquiring an additional 8,472 shares during the period. Midwest Professional Planners LTD. lifted its holdings in Salesforce by 17.7% during the first quarter. Midwest Professional Planners LTD. now owns 13,413 shares of the CRM provider’s stock valued at $4,040,000 after purchasing an additional 2,013 shares in the last quarter. Finally, HBK Sorce Advisory LLC boosted its position in shares of Salesforce by 41.3% in the first quarter. HBK Sorce Advisory LLC now owns 5,251 shares of the CRM provider’s stock worth $1,582,000 after purchasing an additional 1,536 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Roth Mkm restated a “buy” rating and set a $335.00 target price on shares of Salesforce in a research note on Thursday, August 29th. Raymond James boosted their price objective on Salesforce from $325.00 to $350.00 and gave the company a “strong-buy” rating in a research report on Thursday, August 29th. Loop Capital reiterated a “hold” rating and set a $270.00 target price on shares of Salesforce in a research report on Thursday, September 19th. Northland Capmk raised Salesforce from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 2nd. Finally, Jefferies Financial Group increased their price objective on shares of Salesforce from $350.00 to $400.00 and gave the company a “buy” rating in a report on Monday. Nine research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $316.37.

Insider Buying and Selling at Salesforce

In other Salesforce news, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $262.97, for a total value of $1,104,474.00. Following the completion of the transaction, the insider now owns 117,581 shares of the company’s stock, valued at approximately $30,920,275.57. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Parker Harris sold 4,200 shares of the stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $262.97, for a total value of $1,104,474.00. Following the transaction, the insider now directly owns 117,581 shares of the company’s stock, valued at approximately $30,920,275.57. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Miguel Milano sold 2,934 shares of Salesforce stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $262.95, for a total value of $771,495.30. Following the sale, the insider now directly owns 3,716 shares of the company’s stock, valued at $977,122.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 144,373 shares of company stock valued at $41,250,680 in the last ninety days. Corporate insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

CRM stock opened at $341.20 on Wednesday. The firm has a market cap of $326.19 billion, a price-to-earnings ratio of 59.34, a PEG ratio of 3.09 and a beta of 1.29. Salesforce, Inc. has a twelve month low of $211.76 and a twelve month high of $348.86. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The business’s fifty day simple moving average is $281.40 and its two-hundred day simple moving average is $265.31.

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

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were issued a dividend of $0.40 per share. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 annualized dividend and a yield of 0.47%. Salesforce’s payout ratio is currently 27.83%.

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.