McGlone Suttner Wealth Management Inc. Buys 545 Shares of Salesforce, Inc. (NYSE:CRM)

McGlone Suttner Wealth Management Inc. grew its stake in shares of Salesforce, Inc. (NYSE:CRM) by 24.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,816 shares of the CRM provider’s stock after purchasing an additional 545 shares during the period. McGlone Suttner Wealth Management Inc.’s holdings in Salesforce were worth $941,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Infrastructure Capital Advisors LLC bought a new position in Salesforce in the third quarter worth approximately $27,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Salesforce during the second quarter worth approximately $33,000. Godsey & Gibb Inc. grew its position in Salesforce by 300.0% in the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 90 shares during the period. Annapolis Financial Services LLC grew its position in Salesforce by 135.6% in the 3rd quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock valued at $38,000 after purchasing an additional 80 shares during the period. Finally, FSA Wealth Management LLC bought a new stake in Salesforce during the 3rd quarter valued at $53,000. Institutional investors own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In related news, CAO Sundeep G. Reddy sold 436 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $144,874.08. Following the transaction, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at approximately $2,344,899.96. This trade represents a 5.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Brian Millham sold 60,522 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $300.00, for a total value of $18,156,600.00. The disclosure for this sale can be found here. Insiders have sold 1,173,891 shares of company stock valued at $402,840,388 in the last quarter. Insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on CRM shares. Canaccord Genuity Group lifted their price objective on shares of Salesforce from $315.00 to $415.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Cfra set a $343.00 price target on Salesforce in a research note on Thursday, October 17th. JPMorgan Chase & Co. increased their price objective on Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Northland Securities restated an “outperform” rating and issued a $440.00 target price (up previously from $400.00) on shares of Salesforce in a report on Wednesday, December 4th. Finally, Truist Financial reiterated a “buy” rating and set a $400.00 price target (up previously from $380.00) on shares of Salesforce in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have assigned a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $377.63.

Salesforce Trading Up 0.6 %

Shares of CRM stock opened at $334.75 on Friday. The company has a market capitalization of $320.36 billion, a PE ratio of 55.06, a price-to-earnings-growth ratio of 3.01 and a beta of 1.30. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The business’s fifty day moving average is $336.50 and its 200 day moving average is $293.20. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The business had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.35 billion. During the same period in the previous year, the business earned $1.62 EPS. The business’s revenue was up 8.3% on a year-over-year basis. On average, equities research analysts anticipate that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were paid a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.48%. Salesforce’s dividend payout ratio is presently 26.32%.

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.