Romano Brothers AND Company Reduces Holdings in Salesforce, Inc. (NYSE:CRM)

Romano Brothers AND Company lowered its position in Salesforce, Inc. (NYSE:CRM) by 1.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,891 shares of the CRM provider’s stock after selling 49 shares during the quarter. Romano Brothers AND Company’s holdings in Salesforce were worth $1,065,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Capital Research Global Investors raised its holdings in Salesforce by 26.9% during the 1st quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock valued at $4,329,925,000 after acquiring an additional 3,044,611 shares during the period. GQG Partners LLC bought a new stake in shares of Salesforce during the 1st quarter worth $910,220,000. Swedbank AB purchased a new position in shares of Salesforce in the 1st quarter worth about $874,748,000. Massachusetts Financial Services Co. MA boosted its stake in Salesforce by 48.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 5,906,877 shares of the CRM provider’s stock worth $1,518,658,000 after buying an additional 1,922,674 shares in the last quarter. Finally, AMF Tjanstepension AB grew its holdings in shares of Salesforce by 376.1% during the 2nd quarter. AMF Tjanstepension AB now owns 1,442,453 shares of the CRM provider’s stock valued at $370,873,000 after purchasing an additional 1,139,472 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors.

Salesforce Trading Down 1.4 %

NYSE CRM opened at $284.37 on Thursday. The stock’s fifty day moving average price is $268.70 and its 200-day moving average price 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. The stock has a market cap of $275.55 billion, a P/E ratio of 51.15, a P/E/G ratio of 2.61 and a beta of 1.30. Salesforce, Inc. has a 12 month low of $193.68 and a 12 month high of $318.71.

Salesforce (NYSE:CRM) last released 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 business 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%. Salesforce’s revenue was up 8.5% compared to the same quarter last year. During the same period last year, the business earned $1.63 EPS. As a group, equities analysts forecast that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were given a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 annualized dividend and a yield of 0.56%. Salesforce’s dividend payout ratio (DPR) is presently 28.78%.

Analysts Set New Price Targets

CRM has been the topic of several analyst reports. Stifel Nicolaus lifted their price objective on Salesforce from $300.00 to $320.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Truist Financial reiterated a “buy” rating and issued a $315.00 price objective (up previously from $300.00) on shares of Salesforce in a research report on Thursday, September 19th. Northland Securities upgraded shares of Salesforce from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $270.00 to $400.00 in a report on Wednesday, October 2nd. FBN Securities upgraded shares of Salesforce to a “strong-buy” rating in a report on Thursday, August 29th. Finally, Sanford C. Bernstein raised their price target on shares of Salesforce from $234.00 to $236.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $311.66.

Insiders Place Their Bets

In related news, CFO Amy E. Weaver sold 897 shares of the stock in a transaction 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 trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The stock was 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 $1,998,741.74. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Amy E. Weaver sold 897 shares of the company’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $255,905.13. Following the sale, the chief financial officer now owns 52,930 shares of the company’s stock, valued at approximately $15,100,399.70. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 86,812 shares of company stock valued at $23,418,916. 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.