Investment Research & Advisory Group Inc. Has $4.15 Million Stake in Salesforce, Inc. (NYSE:CRM)

Investment Research & Advisory Group Inc. grew its stake in shares of Salesforce, Inc. (NYSE:CRM) by 2.0% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 15,169 shares of the CRM provider’s stock after buying an additional 296 shares during the period. Salesforce makes up 1.7% of Investment Research & Advisory Group Inc.’s investment portfolio, making the stock its 16th biggest holding. Investment Research & Advisory Group Inc.’s holdings in Salesforce were worth $4,152,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in CRM. DT Investment Partners LLC raised its holdings in Salesforce by 21.9% in the 3rd quarter. DT Investment Partners LLC now owns 807 shares of the CRM provider’s stock valued at $221,000 after acquiring an additional 145 shares in the last quarter. Bogart Wealth LLC increased its position in shares of Salesforce by 1.5% during the third quarter. Bogart Wealth LLC now owns 46,716 shares of the CRM provider’s stock valued at $12,787,000 after purchasing an additional 707 shares during the period. Grimes & Company Inc. raised its stake in shares of Salesforce by 0.5% in the third quarter. Grimes & Company Inc. now owns 62,594 shares of the CRM provider’s stock valued at $17,133,000 after purchasing an additional 312 shares in the last quarter. Beese Fulmer Investment Management Inc. lifted its position in Salesforce by 0.9% in the third quarter. Beese Fulmer Investment Management Inc. now owns 64,245 shares of the CRM provider’s stock worth $17,585,000 after purchasing an additional 600 shares during the period. Finally, Hennion & Walsh Asset Management Inc. boosted its stake in Salesforce by 46.2% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 15,708 shares of the CRM provider’s stock worth $4,299,000 after buying an additional 4,967 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Performance

Shares of Salesforce stock opened at $286.74 on Friday. Salesforce, Inc. has a 52 week low of $193.68 and a 52 week high of $318.71. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market capitalization of $277.85 billion, a price-to-earnings ratio of 51.57, a PEG ratio of 2.61 and a beta of 1.30. The firm has a fifty day moving average of $268.70 and a two-hundred day moving average of $263.24.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The business had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter in the prior year, the company posted $1.63 earnings per share. The firm’s revenue was up 8.5% on a year-over-year basis. As a group, equities research analysts predict that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date was Wednesday, September 18th. Salesforce’s dividend payout ratio is currently 28.78%.

Insider Buying and Selling at Salesforce

In other news, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $257.28, for a total transaction of $1,080,576.00. Following the transaction, the insider now directly owns 117,581 shares of the company’s stock, valued at $30,251,239.68. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Salesforce news, insider Sabastian Niles sold 2,484 shares of the stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $244.81, for a total value of $608,108.04. Following the completion of the sale, the insider now directly owns 828 shares in the company, valued at $202,702.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $257.28, for a total value of $1,080,576.00. Following the transaction, the insider now owns 117,581 shares in the company, valued at $30,251,239.68. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 86,812 shares of company stock valued at $23,418,916. Corporate insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CRM shares. Evercore ISI reaffirmed an “outperform” rating and set a $300.00 price objective on shares of Salesforce in a report on Monday, August 26th. BNP Paribas raised Salesforce to a “strong-buy” rating in a report on Thursday, August 29th. Loop Capital reissued a “hold” rating and issued a $270.00 target price on shares of Salesforce in a report on Thursday, September 19th. Truist Financial reaffirmed a “buy” rating and issued a $315.00 price target (up previously from $300.00) on shares of Salesforce in a research note on Thursday, September 19th. Finally, FBN Securities raised Salesforce to a “strong-buy” rating in a report on Thursday, August 29th. Nine investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $312.51.

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.