Bradley & Co. Private Wealth Management LLC Has $7.23 Million Position in Salesforce, Inc. (NYSE:CRM)

Bradley & Co. Private Wealth Management LLC raised its position in Salesforce, Inc. (NYSE:CRM) by 0.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 27,462 shares of the CRM provider’s stock after acquiring an additional 187 shares during the period. Salesforce makes up about 6.7% of Bradley & Co. Private Wealth Management LLC’s holdings, making the stock its 7th largest holding. Bradley & Co. Private Wealth Management LLC’s holdings in Salesforce were worth $7,226,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Northern Trust Corp lifted its position in shares of Salesforce by 1.1% during the third 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 stake in 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 worth $1,064,978,000 after purchasing an additional 19,888 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Salesforce by 7.1% during 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 in the last quarter. Cerity Partners LLC increased its position in shares of Salesforce by 1,254.7% during the fourth 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 holdings in shares of Salesforce by 16.1% in the third quarter. American Century Companies Inc. now owns 3,198,494 shares of the CRM provider’s stock worth $648,591,000 after buying an additional 444,652 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Stock Down 1.1 %

Shares of CRM traded down $3.10 during trading hours on Thursday, hitting $273.09. The company had a trading volume of 4,809,033 shares, compared to its average volume of 5,686,380. Salesforce, Inc. has a 52-week low of $190.57 and a 52-week high of $318.71. The firm has a fifty day moving average price of $296.28 and a 200-day moving average price of $263.44. The stock has a market capitalization of $264.90 billion, a price-to-earnings ratio of 65.02, a P/E/G ratio of 2.13 and a beta of 1.28. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.06. The firm had revenue of $9.29 billion for 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 business’s revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.01 earnings per share. On average, equities research analysts forecast that Salesforce, Inc. will post 7.45 EPS for the current fiscal year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend was Wednesday, March 13th. Salesforce’s payout ratio is currently 9.52%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. StockNews.com cut shares of Salesforce from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 19th. 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. Needham & Company LLC restated a “buy” rating and set a $345.00 target price on shares of Salesforce in a research report on Monday, April 15th. Stifel Nicolaus reiterated a “buy” rating and set a $350.00 price target on shares of Salesforce in a research report on Wednesday, April 3rd. Finally, Bank of America raised their target price on shares of Salesforce from $350.00 to $360.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Nine analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and an average target price of $310.61.

Insider Activity at Salesforce

In other news, COO Brian Millham sold 24,453 shares of the business’s stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other 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 transaction of $7,386,762.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $280.79, for a total transaction of $4,211,850.00. Following the completion of the transaction, the chief executive officer now directly owns 13,671,166 shares of the company’s stock, valued at $3,838,726,701.14. The disclosure for this sale can be found here. Insiders have sold 635,793 shares of company stock valued at $186,389,768 over the last ninety days. Insiders own 3.70% of the company’s stock.

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.