Dynamic Advisor Solutions LLC Acquires New Position in Salesforce Inc. (NYSE:CRM)

Dynamic Advisor Solutions LLC acquired a new position in shares of Salesforce Inc. (NYSE:CRM - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 20,270 shares of the CRM provider's stock, valued at approximately $5,440,000.

Several other large investors have also recently made changes to their positions in the business. Geode Capital Management LLC raised its position in Salesforce by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 19,955,353 shares of the CRM provider's stock worth $6,656,078,000 after buying an additional 175,035 shares during the last quarter. Fisher Asset Management LLC boosted its stake in shares of Salesforce by 1.4% in the 4th quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider's stock worth $4,163,703,000 after buying an additional 177,321 shares during the last quarter. Northern Trust Corp grew its stake in shares of Salesforce by 18.3% during the 4th quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider's stock valued at $3,752,830,000 after purchasing an additional 1,736,667 shares during the period. Norges Bank purchased a new position in shares of Salesforce in the fourth quarter worth approximately $3,599,867,000. Finally, Price T Rowe Associates Inc. MD raised its position in Salesforce by 23.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,938,536 shares of the CRM provider's stock worth $2,988,422,000 after acquiring an additional 1,683,233 shares during the period. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Salesforce news, CAO Sundeep G. Reddy sold 1,909 shares of the business's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $284.58, for a total value of $543,263.22. Following the completion of the transaction, the chief accounting officer now directly owns 11,310 shares in the company, valued at approximately $3,218,599.80. The trade was a 14.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider R David Schmaier sold 6,959 shares of Salesforce stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total value of $1,762,784.29. Following the transaction, the insider now owns 36,090 shares of the company's stock, valued at approximately $9,141,957.90. This represents a 16.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,111 shares of company stock worth $9,299,283 over the last 90 days. Corporate insiders own 3.20% of the company's stock.

Analyst Upgrades and Downgrades

CRM has been the subject of several recent research reports. Piper Sandler boosted their price target on Salesforce from $315.00 to $335.00 and gave the company an "overweight" rating in a report on Wednesday, May 28th. Robert W. Baird cut their price target on Salesforce from $430.00 to $400.00 and set an "outperform" rating for the company in a research note on Thursday, February 27th. Bank of America lowered their price target on Salesforce from $440.00 to $400.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Stephens cut their price objective on Salesforce from $311.00 to $309.00 and set an "equal weight" rating for the company in a research report on Friday, May 30th. Finally, Canaccord Genuity Group decreased their target price on shares of Salesforce from $400.00 to $350.00 and set a "buy" rating on the stock in a research report on Wednesday, May 28th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-seven have issued a buy rating and four have assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $346.34.

Salesforce Trading Down 1.4%

Salesforce stock traded down $3.78 during trading hours on Wednesday, reaching $258.98. The company had a trading volume of 7,623,720 shares, compared to its average volume of 6,535,519. The company has a 50-day moving average price of $268.31 and a 200 day moving average price of $298.72. The firm has a market cap of $247.59 billion, a price-to-earnings ratio of 40.53, a P/E/G ratio of 2.38 and a beta of 1.38. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.07 and a quick ratio of 1.07. Salesforce Inc. has a 12-month low of $230.00 and a 12-month high of $369.00.

Salesforce (NYSE:CRM - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share for the quarter, topping the consensus estimate of $2.55 by $0.03. Salesforce had a return on equity of 12.94% and a net margin of 16.08%. The company had revenue of $9.83 billion for the quarter, compared to the consensus estimate of $9.74 billion. During the same quarter in the prior year, the business posted $2.44 EPS. The firm's quarterly revenue was up 7.6% compared to the same quarter last year. Equities analysts forecast that Salesforce Inc. will post 7.46 earnings per share for the current year.

Salesforce Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th will be issued a $0.416 dividend. This represents a $1.66 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend is Wednesday, June 18th. Salesforce's dividend payout ratio (DPR) is presently 25.98%.

Salesforce Company 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.