Salesforce, Inc. (NYSE:CRM) Stock Holdings Trimmed by Mogy Joel R Investment Counsel Inc.

Mogy Joel R Investment Counsel Inc. lessened its holdings in Salesforce, Inc. (NYSE:CRM) by 1.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 194,795 shares of the CRM provider’s stock after selling 2,962 shares during the period. Salesforce comprises approximately 3.9% of Mogy Joel R Investment Counsel Inc.’s holdings, making the stock its 7th biggest holding. Mogy Joel R Investment Counsel Inc.’s holdings in Salesforce were worth $51,258,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Northern Trust Corp grew its holdings in Salesforce by 1.1% during the 3rd quarter. Northern Trust Corp now owns 11,195,108 shares of the CRM provider’s stock worth $2,270,144,000 after acquiring an additional 121,436 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Salesforce by 0.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,251,891 shares of the CRM provider’s stock valued at $1,064,978,000 after buying an additional 19,888 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Salesforce by 7.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 4,678,330 shares of the CRM provider’s stock valued at $948,676,000 after buying an additional 309,881 shares during the period. Cerity Partners LLC boosted its holdings in shares of Salesforce by 1,254.7% in the 4th quarter. Cerity Partners LLC now owns 3,483,670 shares of the CRM provider’s stock valued at $916,693,000 after buying an additional 3,226,512 shares during the period. Finally, American Century Companies Inc. lifted its position in Salesforce by 16.1% in the 3rd quarter. American Century Companies Inc. now owns 3,198,494 shares of the CRM provider’s stock valued at $648,591,000 after purchasing an additional 444,652 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Stock Up 0.4 %

CRM traded up $1.15 on Friday, reaching $274.29. 3,754,585 shares of the company traded hands, compared to its average volume of 5,162,527. The stock’s 50 day moving average price is $295.97 and its 200-day moving average price is $263.90. Salesforce, Inc. has a 52-week low of $190.76 and a 52-week high of $318.71. The company has a market cap of $266.06 billion, a price-to-earnings ratio of 65.31, a PEG ratio of 2.10 and a beta of 1.28. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09.

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

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend was Wednesday, March 13th. Salesforce’s dividend payout ratio (DPR) is presently 9.52%.

Insider Buying and Selling at Salesforce

In other Salesforce news, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $276.65, for a total value of $4,149,750.00. Following the completion of the sale, the chief executive officer now directly owns 12,782,327 shares in the company, valued at $3,536,230,764.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $276.65, for a total value of $4,149,750.00. Following the completion of the sale, the chief executive officer now directly owns 12,782,327 shares in the company, valued at $3,536,230,764.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Brian Millham sold 4,204 shares of the business’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $278.00, for a total transaction of $1,168,712.00. The disclosure for this sale can be found here. Insiders sold 620,793 shares of company stock worth $182,177,918 over the last ninety days. 3.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on CRM shares. Oppenheimer lifted their price objective on shares of Salesforce from $300.00 to $325.00 and gave the company an “outperform” rating in a research report on Monday, February 12th. Bank of America lifted their price objective on shares of Salesforce from $350.00 to $360.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. UBS Group lifted their price objective on shares of Salesforce from $285.00 to $310.00 and gave the company a “neutral” rating in a research report on Friday, February 16th. Piper Sandler reiterated a “neutral” rating and issued a $300.00 price objective on shares of Salesforce in a research report on Monday, April 15th. Finally, Jefferies Financial Group boosted their price target on shares of Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a research report on Monday, April 22nd. Nine analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and an average target price of $310.61.

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.