Scissortail Wealth Management LLC Invests $978,000 in Salesforce, Inc. (NYSE:CRM)

Scissortail Wealth Management LLC acquired a new stake in Salesforce, Inc. (NYSE:CRM) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 3,399 shares of the CRM provider’s stock, valued at approximately $978,000.

Other large investors also recently bought and sold shares of the company. Bear Mountain Capital Inc. acquired a new stake in shares of Salesforce in the fourth quarter valued at about $26,000. Pacifica Partners Inc. lifted its position in shares of Salesforce by 333.3% during the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 100 shares during the period. BKM Wealth Management LLC purchased a new stake in shares of Salesforce during the 4th quarter worth approximately $34,000. GHP Investment Advisors Inc. grew its holdings in shares of Salesforce by 30.4% in the 4th quarter. GHP Investment Advisors Inc. now owns 270 shares of the CRM provider’s stock worth $36,000 after acquiring an additional 63 shares during the period. Finally, Live Oak Investment Partners purchased a new position in Salesforce in the 4th quarter valued at approximately $36,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Robert W. Baird boosted their target price on Salesforce from $310.00 to $355.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Needham & Company LLC restated a “buy” rating and set a $345.00 target price on shares of Salesforce in a report on Monday. Morgan Stanley raised shares of Salesforce from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $290.00 to $350.00 in a report on Thursday, December 21st. Canaccord Genuity Group reissued a “buy” rating and set a $350.00 price objective on shares of Salesforce in a research note on Thursday, March 7th. Finally, BMO Capital Markets upped their target price on Salesforce from $325.00 to $335.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. Nine research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $307.87.

Salesforce Trading Up 1.7 %

CRM stock traded up $4.51 during midday trading on Tuesday, reaching $277.41. 7,609,935 shares of the company’s stock traded hands, compared to its average volume of 5,727,201. Salesforce, Inc. has a fifty-two week low of $190.57 and a fifty-two week high of $318.71. The business has a 50-day moving average price of $298.52 and a two-hundred day moving average price of $260.26. The company has a market capitalization of $269.09 billion, a P/E ratio of 66.40, a PEG ratio of 2.26 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 results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $9.22 billion. During the same period in the prior year, the company earned $1.01 EPS. The firm’s revenue was up 10.8% on a year-over-year basis. Equities research analysts forecast that Salesforce, Inc. will post 7.45 EPS for the current fiscal year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were issued 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 is presently 9.52%.

Insider Buying and Selling at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 216 shares of the business’s stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $278.71, for a total value of $60,201.36. Following the transaction, the chief accounting officer now owns 2,869 shares in the company, valued at approximately $799,618.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction on Thursday, January 18th. The shares were sold at an average price of $274.01, for a total transaction of $4,110,150.00. Following the completion of the transaction, the chief executive officer now directly owns 13,761,166 shares of the company’s stock, valued at approximately $3,770,697,095.66. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Sundeep G. Reddy sold 216 shares of the company’s stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $278.71, for a total transaction of $60,201.36. Following the completion of the sale, the chief accounting officer now owns 2,869 shares in the company, valued at approximately $799,618.99. The disclosure for this sale can be found here. Insiders sold 897,375 shares of company stock valued at $260,206,096 over the last 90 days. 3.70% of the stock is owned by corporate insiders.

Salesforce 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.