Evermay Wealth Management LLC Increases Stock Position in Salesforce, Inc. (NYSE:CRM)

Evermay Wealth Management LLC boosted its stake in Salesforce, Inc. (NYSE:CRM) by 32.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,788 shares of the CRM provider’s stock after purchasing an additional 433 shares during the quarter. Evermay Wealth Management LLC’s holdings in Salesforce were worth $470,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of CRM. Bear Mountain Capital Inc. bought a new position in shares of Salesforce in the fourth quarter worth approximately $26,000. Signature Resources Capital Management LLC bought a new position in shares of Salesforce in the fourth quarter worth approximately $26,000. Kathleen S. Wright Associates Inc. bought a new position in shares of Salesforce in the fourth quarter worth approximately $31,000. BKM Wealth Management LLC bought a new position in shares of Salesforce in the fourth quarter worth approximately $34,000. Finally, Pacifica Partners Inc. grew its holdings in shares of Salesforce by 333.3% in the fourth quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 100 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Canaccord Genuity Group restated a “buy” rating and issued a $350.00 target price on shares of Salesforce in a report on Thursday, March 7th. JPMorgan Chase & Co. raised their price target on Salesforce from $260.00 to $310.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $350.00 price target on shares of Salesforce in a research note on Friday. Needham & Company LLC reaffirmed a “buy” rating and issued a $345.00 price target on shares of Salesforce in a research note on Monday, April 15th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $300.00 price target on shares of Salesforce in a research note on Monday, April 15th. Nine analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $310.94.

Insider Buying and Selling

In related news, COO Brian Millham sold 24,453 shares of Salesforce stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $302.08, for a total value of $7,386,762.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $269.53, for a total value of $4,042,950.00. Following the completion of the sale, the chief executive officer now directly owns 12,707,327 shares in the company, valued at approximately $3,425,005,846.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Brian Millham sold 24,453 shares of Salesforce stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $302.08, for a total value of $7,386,762.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 636,344 shares of company stock worth $184,877,874. 3.20% of the stock is owned by corporate insiders.

Salesforce Stock Down 2.3 %

Shares of CRM traded down $6.28 during trading hours on Friday, hitting $272.29. The company had a trading volume of 8,325,132 shares, compared to its average volume of 3,819,083. The firm has a fifty day moving average price of $286.94 and a 200-day moving average price of $275.05. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The stock has a market capitalization of $263.58 billion, a price-to-earnings ratio of 64.83, a P/E/G ratio of 2.40 and a beta of 1.30. Salesforce, Inc. has a 52-week low of $193.68 and a 52-week high of $318.71.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.06. The firm had revenue of $9.29 billion during the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. Salesforce’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.01 EPS. On average, equities research analysts forecast that Salesforce, Inc. will post 7.45 EPS for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 14th were issued a $0.40 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $1.60 annualized dividend and a yield of 0.59%. Salesforce’s payout ratio is 9.52%.

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.