Axxcess Wealth Management LLC Purchases 6,137 Shares of Salesforce, Inc. (NYSE:CRM)

Axxcess Wealth Management LLC lifted its position in shares of Salesforce, Inc. (NYSE:CRM) by 44.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,091 shares of the CRM provider’s stock after acquiring an additional 6,137 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Salesforce were worth $5,166,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Salesforce by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 84,635,254 shares of the CRM provider’s stock valued at $25,490,446,000 after acquiring an additional 1,008,841 shares during the last quarter. Capital World Investors grew its stake in shares of Salesforce by 2.4% during the fourth quarter. Capital World Investors now owns 19,561,325 shares of the CRM provider’s stock worth $5,147,402,000 after purchasing an additional 457,463 shares during the period. Fisher Asset Management LLC increased its holdings in Salesforce by 5.2% in the fourth quarter. Fisher Asset Management LLC now owns 14,905,462 shares of the CRM provider’s stock valued at $3,922,223,000 after purchasing an additional 736,986 shares during the last quarter. Capital Research Global Investors lifted its stake in Salesforce by 26.9% in the first quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock valued at $4,329,925,000 after buying an additional 3,044,611 shares during the period. Finally, Capital International Investors increased its stake in shares of Salesforce by 3.0% in the 1st quarter. Capital International Investors now owns 14,116,449 shares of the CRM provider’s stock valued at $4,251,592,000 after acquiring an additional 407,834 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Stock Down 0.6 %

CRM stock opened at $255.32 on Wednesday. Salesforce, Inc. has a fifty-two week low of $193.68 and a fifty-two week high of $318.71. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market capitalization of $247.41 billion, a price-to-earnings ratio of 45.92, a PEG ratio of 2.26 and a beta of 1.29. The business’s fifty day moving average price is $253.61 and its two-hundred day moving average price is $267.11.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. The business had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. Salesforce’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period last year, the firm earned $1.63 earnings per share. On average, equities analysts anticipate that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date is Wednesday, September 18th. Salesforce’s dividend payout ratio is currently 28.78%.

Insiders Place Their Bets

In other news, insider Srinivas Tallapragada sold 942 shares of the company’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $242.32, for a total transaction of $228,265.44. Following the completion of the sale, the insider now directly owns 22,154 shares in the company, valued at approximately $5,368,357.28. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Salesforce news, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $262.97, for a total transaction of $1,104,474.00. Following the completion of the transaction, the insider now directly owns 117,581 shares in the company, valued at $30,920,275.57. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Srinivas Tallapragada sold 942 shares of the firm’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $242.32, for a total value of $228,265.44. Following the completion of the sale, the insider now directly owns 22,154 shares in the company, valued at approximately $5,368,357.28. The disclosure for this sale can be found here. Insiders have sold a total of 62,376 shares of company stock worth $15,878,005 in the last 90 days. Company insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on CRM shares. Oppenheimer upped their target price on shares of Salesforce from $280.00 to $300.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. JPMorgan Chase & Co. raised their price objective on Salesforce from $300.00 to $310.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Wells Fargo & Company lifted their target price on Salesforce from $250.00 to $275.00 and gave the stock an “equal weight” rating in a report on Thursday, August 29th. Morgan Stanley increased their price objective on shares of Salesforce from $320.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $300.00 price objective on shares of Salesforce in a research report on Thursday, August 29th. Nine analysts have rated the stock with a hold rating, twenty-six have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $305.55.

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.