Signature Resources Capital Management LLC Purchases Shares of 97 Salesforce, Inc. (NYSE:CRM)

Signature Resources Capital Management LLC purchased a new stake in Salesforce, Inc. (NYSE:CRM) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 97 shares of the CRM provider’s stock, valued at approximately $26,000.

Other large investors also recently modified their holdings of the company. Bear Mountain Capital Inc. bought a new position in shares of Salesforce in the fourth quarter valued at about $26,000. Kathleen S. Wright Associates Inc. bought a new position in Salesforce during the fourth quarter worth about $31,000. Pacifica Partners Inc. increased its position in Salesforce by 333.3% during the fourth quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 100 shares during the period. BKM Wealth Management LLC bought a new position in Salesforce during the fourth quarter worth about $34,000. Finally, AlphaMark Advisors LLC increased its position in Salesforce by 892.9% during the fourth quarter. AlphaMark Advisors LLC now owns 139 shares of the CRM provider’s stock worth $37,000 after acquiring an additional 125 shares during the period. 80.43% of the stock is owned by institutional investors.

Salesforce Trading Up 0.6 %

Salesforce stock traded up $1.53 during mid-day trading on Friday, hitting $273.66. 4,041,636 shares of the stock were exchanged, compared to its average volume of 5,219,539. The firm’s fifty day simple moving average is $294.23 and its two-hundred day simple moving average is $266.17. The stock has a market capitalization of $264.90 billion, a price-to-earnings ratio of 65.16, a PEG ratio of 2.09 and a beta of 1.30. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 12 month low of $190.76 and a 12 month high of $318.71.

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

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were paid a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.60 annualized dividend and a dividend yield of 0.58%. Salesforce’s dividend payout ratio is currently 9.52%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CRM. Wedbush raised their price target on shares of Salesforce from $280.00 to $325.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $350.00 price target on shares of Salesforce in a research report on Thursday, March 7th. StockNews.com lowered shares of Salesforce from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 19th. Piper Sandler reissued a “neutral” rating and issued a $300.00 target price on shares of Salesforce in a report on Monday, April 15th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $345.00 target price on shares of Salesforce in a report on Monday, April 15th. Nine investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $310.61.

Insider Activity

In other Salesforce news, COO Brian Millham sold 24,453 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $302.08, for a total transaction of $7,386,762.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Salesforce news, CFO Amy E. Weaver sold 942 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $305.46, for a total transaction of $287,743.32. Following the completion of the sale, the chief financial officer now owns 39,416 shares in the company, valued at approximately $12,040,011.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Brian Millham sold 24,453 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $302.08, for a total transaction of $7,386,762.24. The disclosure for this sale can be found here. Insiders sold 629,993 shares of company stock worth $184,255,474 in the last quarter. 3.70% of the stock is owned by corporate insiders.

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.