Marks Group Wealth Management Inc Increases Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Marks Group Wealth Management Inc lifted its position in Salesforce, Inc. (NYSE:CRMGet Rating) by 13.3% during the first quarter, HoldingsChannel reports. The institutional investor owned 23,996 shares of the CRM provider’s stock after purchasing an additional 2,818 shares during the period. Marks Group Wealth Management Inc’s holdings in Salesforce were worth $5,095,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Texas Capital Bank Wealth Management Services Inc. grew its position in shares of Salesforce by 4.1% during the 4th quarter. Texas Capital Bank Wealth Management Services Inc. now owns 1,204 shares of the CRM provider’s stock worth $306,000 after buying an additional 47 shares in the last quarter. Guardian Capital Advisors LP grew its holdings in Salesforce by 0.5% in the fourth quarter. Guardian Capital Advisors LP now owns 9,302 shares of the CRM provider’s stock valued at $2,212,000 after purchasing an additional 50 shares during the period. Sittner & Nelson LLC grew its holdings in Salesforce by 22.2% in the fourth quarter. Sittner & Nelson LLC now owns 281 shares of the CRM provider’s stock valued at $71,000 after purchasing an additional 51 shares during the period. Accretive Wealth Partners LLC boosted its stake in shares of Salesforce by 1.1% in the fourth quarter. Accretive Wealth Partners LLC now owns 4,674 shares of the CRM provider’s stock worth $1,188,000 after acquiring an additional 52 shares during the last quarter. Finally, MCIA Inc raised its position in Salesforce by 0.5% in the first quarter. MCIA Inc now owns 10,681 shares of the CRM provider’s stock valued at $2,088,000 after purchasing an additional 52 shares during the period. 77.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on CRM shares. Morgan Stanley decreased their target price on Salesforce from $291.00 to $273.00 and set an “overweight” rating for the company in a research report on Tuesday. OTR Global downgraded Salesforce to a “positive” rating in a research note on Thursday, May 12th. Loop Capital reduced their price objective on Salesforce from $225.00 to $175.00 and set a “hold” rating for the company in a research note on Thursday, June 2nd. Cowen reduced their price objective on Salesforce from $285.00 to $225.00 in a research note on Monday, May 23rd. Finally, Guggenheim started coverage on Salesforce in a research note on Friday, August 12th. They set a “sell” rating and a $150.00 price objective for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $267.55.

Salesforce Price Performance

CRM traded down $0.63 during midday trading on Wednesday, reaching $188.96. 81,822 shares of the company’s stock were exchanged, compared to its average volume of 4,322,859. The firm has a market capitalization of $188.02 billion, a price-to-earnings ratio of 182.03, a price-to-earnings-growth ratio of 5.24 and a beta of 1.08. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.16. Salesforce, Inc. has a one year low of $154.55 and a one year high of $311.75. The business has a 50-day simple moving average of $176.58 and a two-hundred day simple moving average of $187.48.

Salesforce (NYSE:CRMGet Rating) last announced its quarterly earnings results on Tuesday, May 31st. The CRM provider reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.07. The firm had revenue of $7.41 billion during the quarter, compared to analysts’ expectations of $7.38 billion. Salesforce had a net margin of 3.59% and a return on equity of 3.92%. The company’s revenue for the quarter was up 24.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.74 earnings per share. As a group, research analysts predict that Salesforce, Inc. will post 2.18 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Marc Benioff sold 2,300 shares of the firm’s stock in a transaction that occurred on Friday, May 20th. The shares were sold at an average price of $157.52, for a total transaction of $362,296.00. Following the completion of the sale, the chief executive officer now owns 28,926,000 shares of the company’s stock, valued at $4,556,423,520. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Marc Benioff sold 2,300 shares of the firm’s stock in a transaction that occurred on Friday, May 20th. The shares were sold at an average price of $157.52, for a total transaction of $362,296.00. Following the completion of the transaction, the chief executive officer now directly owns 28,926,000 shares of the company’s stock, valued at approximately $4,556,423,520. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Parker Harris sold 568 shares of the company’s stock in a transaction on Monday, July 25th. The stock was sold at an average price of $177.87, for a total transaction of $101,030.16. Following the sale, the insider now directly owns 93,650 shares in the company, valued at $16,657,525.50. The disclosure for this sale can be found here. Insiders sold a total of 77,749 shares of company stock worth $13,542,984 over the last quarter. Company insiders own 3.60% of the company’s stock.

Salesforce Company Profile

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Salesforce, Inc provides customer relationship management technology that brings companies and customers together worldwide. Its Customer 360 platform empowers its customers to work together to deliver connected experiences for their customers. The company's service offerings include Sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and relationship intelligence, and deliver quotes, contracts, and invoices; and Service that enables companies to deliver trusted and highly personalized customer service and support at scale.

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Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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