Simmons Bank Has $8.14 Million Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Simmons Bank boosted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 9.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 30,925 shares of the CRM provider’s stock after purchasing an additional 2,550 shares during the period. Simmons Bank’s holdings in Salesforce were worth $8,138,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of CRM. Graypoint LLC raised its position in shares of Salesforce by 0.3% in the 4th quarter. Graypoint LLC now owns 10,504 shares of the CRM provider’s stock worth $2,764,000 after acquiring an additional 36 shares in the last quarter. Chase Investment Counsel Corp raised its position in shares of Salesforce by 0.3% in the 4th quarter. Chase Investment Counsel Corp now owns 10,377 shares of the CRM provider’s stock worth $2,730,000 after acquiring an additional 36 shares in the last quarter. Opes Wealth Management LLC grew its stake in Salesforce by 2.9% during the 4th quarter. Opes Wealth Management LLC now owns 1,295 shares of the CRM provider’s stock worth $341,000 after buying an additional 37 shares during the last quarter. Prentice Wealth Management LLC grew its stake in Salesforce by 1.7% during the 4th quarter. Prentice Wealth Management LLC now owns 2,294 shares of the CRM provider’s stock worth $604,000 after buying an additional 38 shares during the last quarter. Finally, MV Capital Management Inc. grew its stake in Salesforce by 3.9% during the 4th quarter. MV Capital Management Inc. now owns 1,045 shares of the CRM provider’s stock worth $275,000 after buying an additional 39 shares during the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CRM has been the topic of several research analyst reports. Truist Financial restated a “buy” rating and set a $360.00 target price (up from $275.00) on shares of Salesforce in a research note on Thursday, February 29th. JMP Securities restated a “market outperform” rating and set a $342.00 price target on shares of Salesforce in a research report on Monday, April 15th. StockNews.com lowered Salesforce from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 19th. Citigroup increased their target price on Salesforce from $265.00 to $325.00 and gave the company a “neutral” rating in a research report on Monday, February 26th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $350.00 price target (up previously from $325.00) on shares of Salesforce in a report on Friday, April 12th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $310.61.

Salesforce Trading Up 0.4 %

CRM traded up $1.24 on Wednesday, hitting $278.42. The company had a trading volume of 1,941,426 shares, compared to its average volume of 5,485,941. The firm has a market cap of $269.51 billion, a P/E ratio of 66.59, a PEG ratio of 2.10 and a beta of 1.30. Salesforce, Inc. has a 1 year low of $193.68 and a 1 year high of $318.71. The company’s fifty day moving average price is $293.29 and its 200 day moving average price is $267.99. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.06. The firm had revenue of $9.29 billion for 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 was up 10.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.01 EPS. As a group, equities analysts expect that Salesforce, Inc. will post 7.45 earnings per share for the current year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 14th were paid a dividend of $0.40 per share. The ex-dividend date was Wednesday, March 13th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.57%. Salesforce’s payout ratio is 9.52%.

Insider Buying and Selling

In related news, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $275.45, for a total transaction of $4,131,750.00. Following the sale, the chief executive officer now directly owns 12,662,327 shares in the company, valued at $3,487,837,972.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, COO Brian Millham sold 24,453 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $302.08, for a total value of $7,386,762.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $275.45, for a total value of $4,131,750.00. Following the completion of the transaction, the chief executive officer now directly owns 12,662,327 shares of the company’s stock, valued at $3,487,837,972.15. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 619,993 shares of company stock worth $181,048,574. Company insiders own 3.70% of the company’s stock.

About Salesforce

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.