Accel Wealth Management Has $475,000 Stock Position in Salesforce, Inc. (NYSE:CRM)

Accel Wealth Management grew its position in Salesforce, Inc. (NYSE:CRM) by 4.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,807 shares of the CRM provider’s stock after purchasing an additional 78 shares during the period. Accel Wealth Management’s holdings in Salesforce were worth $475,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CRM. Fairfield Bush & CO. raised its holdings in shares of Salesforce by 8.7% during the 1st quarter. Fairfield Bush & CO. now owns 4,468 shares of the CRM provider’s stock valued at $949,000 after purchasing an additional 357 shares in the last quarter. Roundview Capital LLC raised its holdings in Salesforce by 18.8% during the first quarter. Roundview Capital LLC now owns 24,037 shares of the CRM provider’s stock valued at $5,104,000 after buying an additional 3,809 shares in the last quarter. Covestor Ltd lifted its position in shares of Salesforce by 42.8% in the first quarter. Covestor Ltd now owns 621 shares of the CRM provider’s stock worth $132,000 after buying an additional 186 shares during the last quarter. Ergoteles LLC bought a new stake in shares of Salesforce during the 1st quarter worth about $455,000. Finally, Mackenzie Financial Corp increased its holdings in shares of Salesforce by 21.3% during the 1st quarter. Mackenzie Financial Corp now owns 860,950 shares of the CRM provider’s stock valued at $182,797,000 after acquiring an additional 151,440 shares during the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Price Performance

Shares of NYSE CRM traded down $4.42 during midday trading on Wednesday, reaching $301.41. 3,859,335 shares of the company traded hands, compared to its average volume of 5,779,520. Salesforce, Inc. has a 12 month low of $187.31 and a 12 month high of $318.71. 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’s 50-day simple moving average is $293.59 and its 200-day simple moving average is $251.75. The firm has a market cap of $292.37 billion, a PE ratio of 71.76, a PEG ratio of 2.35 and a beta of 1.28.

Salesforce (NYSE:CRM) last announced its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period last year, the firm posted $1.01 EPS. As a group, equities analysts anticipate that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th will be given a $0.40 dividend. The ex-dividend date is Wednesday, March 13th. This represents a $1.60 annualized dividend and a yield of 0.53%. Salesforce’s payout ratio is 9.52%.

Insiders Place Their Bets

In other news, insider Srinivas Tallapragada sold 10,000 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $258.58, for a total value of $2,585,800.00. Following the completion of the sale, the insider now directly owns 59,861 shares in the company, valued at $15,478,857.38. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Srinivas Tallapragada sold 10,000 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $258.58, for a total transaction of $2,585,800.00. Following the sale, the insider now directly owns 59,861 shares of the company’s stock, valued at $15,478,857.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $315.54, for a total transaction of $4,733,100.00. Following the completion of the transaction, the chief executive officer now owns 13,311,166 shares of the company’s stock, valued at approximately $4,200,205,319.64. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,163,507 shares of company stock valued at $325,822,813. 3.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Raymond James upped their target price on Salesforce from $280.00 to $300.00 and gave the stock a “strong-buy” rating in a research report on Thursday, November 30th. Morgan Stanley upgraded shares of Salesforce from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $290.00 to $350.00 in a research note on Thursday, December 21st. Piper Sandler reissued a “neutral” rating and set a $285.00 target price on shares of Salesforce in a research report on Wednesday, February 28th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $350.00 price target on shares of Salesforce in a research report on Thursday, March 7th. Finally, TheStreet raised Salesforce from a “c+” rating to a “b-” rating in a research report on Friday, January 19th. 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, Salesforce currently has an average rating of “Moderate Buy” and an average price target of $304.32.

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.