Accel Wealth Management Sells 161 Shares of Salesforce, Inc. (NYSE:CRM)

Accel Wealth Management reduced its stake in shares of Salesforce, Inc. (NYSE:CRM) by 7.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 2,123 shares of the CRM provider’s stock after selling 161 shares during the quarter. Accel Wealth Management’s holdings in Salesforce were worth $710,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the stock. Infrastructure Capital Advisors LLC acquired a new stake in Salesforce in the third quarter worth about $27,000. Godsey & Gibb Inc. grew its position in shares of Salesforce by 300.0% during the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after buying an additional 90 shares during the period. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Salesforce during the 2nd quarter worth approximately $33,000. Annapolis Financial Services LLC raised its stake in shares of Salesforce by 135.6% during the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock worth $38,000 after buying an additional 80 shares during the last quarter. Finally, Friedenthal Financial bought a new stake in shares of Salesforce during the fourth quarter worth approximately $55,000. Institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling

In other Salesforce news, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $298.04, for a total transaction of $1,251,768.00. Following the completion of the sale, the insider now owns 119,402 shares in the company, valued at approximately $35,586,572.08. The trade was a 3.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Amy E. Weaver sold 897 shares of the firm’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $298,055.16. Following the completion of the transaction, the chief financial officer now directly owns 46,750 shares in the company, valued at $15,534,090. This trade represents a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,173,891 shares of company stock valued at $402,840,388. 3.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

CRM has been the subject of several recent research reports. KeyCorp upgraded shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 target price for the company in a research report on Friday, December 13th. Jefferies Financial Group increased their target price on Salesforce from $400.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. JPMorgan Chase & Co. boosted their target price on Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. UBS Group upped their price target on Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Finally, Loop Capital lifted their price objective on shares of Salesforce from $340.00 to $360.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and an average price target of $377.63.

Salesforce Stock Performance

Shares of CRM stock opened at $333.47 on Friday. The firm has a 50 day moving average of $336.73 and a 200-day moving average of $294.01. The company has a market cap of $319.13 billion, a price-to-earnings ratio of 54.85, a price-to-earnings-growth ratio of 3.01 and a beta of 1.30. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00.

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

Salesforce Announces Dividend

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

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.