SYM FINANCIAL Corp Increases Stake in Salesforce, Inc. (NYSE:CRM)

SYM FINANCIAL Corp increased its holdings in Salesforce, Inc. (NYSE:CRM) by 266.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,881 shares of the CRM provider’s stock after acquiring an additional 3,550 shares during the quarter. SYM FINANCIAL Corp’s holdings in Salesforce were worth $1,632,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Foundations Investment Advisors LLC boosted its stake in shares of Salesforce by 15.0% during the fourth quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock valued at $12,194,000 after purchasing an additional 4,752 shares in the last quarter. Nabity Jensen Investment Management Inc bought a new stake in Salesforce during the 3rd quarter valued at $1,215,000. Prime Capital Investment Advisors LLC increased its holdings in shares of Salesforce by 13.6% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock valued at $15,885,000 after acquiring an additional 6,938 shares during the period. Aljian Capital Management LLC raised its position in shares of Salesforce by 16.1% in the 3rd quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock worth $3,629,000 after acquiring an additional 1,834 shares in the last quarter. Finally, AIA Group Ltd lifted its stake in shares of Salesforce by 8.9% during the 3rd quarter. AIA Group Ltd now owns 24,028 shares of the CRM provider’s stock worth $6,577,000 after purchasing an additional 1,962 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $343.00, for a total transaction of $2,133,803.00. Following the completion of the sale, the chief financial officer now directly owns 53,861 shares in the company, valued at approximately $18,474,323. The trade was a 10.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Parker Harris sold 3,970 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $296.74, for a total value of $1,178,057.80. Following the transaction, the insider now directly owns 119,402 shares of the company’s stock, valued at $35,431,349.48. The trade was a 3.22 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,108,669 shares of company stock valued at $383,286,905. 3.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on CRM shares. Morgan Stanley lifted their target price on Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. TD Cowen upgraded shares of Salesforce from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $380.00 to $400.00 in a research note on Friday, January 17th. Stifel Nicolaus raised their target price on shares of Salesforce from $390.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Citigroup upped their price target on Salesforce from $368.00 to $390.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Finally, Wells Fargo & Company increased their price objective on Salesforce from $275.00 to $330.00 and gave the company an “equal weight” rating in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, six have issued 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 an average rating of “Moderate Buy” and an average price target of $377.63.

Salesforce Trading Down 0.5 %

Shares of Salesforce stock opened at $341.80 on Friday. The firm has a 50-day simple moving average of $338.67 and a two-hundred day simple moving average of $297.37. 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, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The company has a market cap of $327.10 billion, a P/E ratio of 56.22, a price-to-earnings-growth ratio of 3.20 and a beta of 1.30.

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 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 business had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. During the same period in the previous year, the company posted $1.62 EPS. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, equities analysts predict that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Investors 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 0.47%. Salesforce’s dividend payout ratio is currently 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.