HWG Holdings LP Acquires Shares of 5,665 Salesforce, Inc. (NYSE:CRM)

HWG Holdings LP acquired a new position in shares of Salesforce, Inc. (NYSE:CRM - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 5,665 shares of the CRM provider's stock, valued at approximately $1,894,000.

Other institutional investors have also recently modified their holdings of the company. Nvest Financial LLC boosted its stake in shares of Salesforce by 1.1% in the 4th quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider's stock valued at $938,000 after purchasing an additional 31 shares in the last quarter. OMC Financial Services LTD increased its position in Salesforce by 0.3% during the 4th quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider's stock valued at $3,808,000 after purchasing an additional 31 shares during the period. Capital Advisors Ltd. LLC lifted its stake in shares of Salesforce by 4.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider's stock valued at $263,000 after purchasing an additional 31 shares during the period. Prossimo Advisors LLC boosted its stake in Salesforce by 1.0% during the fourth quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider's stock worth $1,125,000 after acquiring an additional 32 shares in the last quarter. Finally, Muirfield Wealth Advisors LLC grew its stake in Salesforce by 2.3% in the fourth quarter. Muirfield Wealth Advisors LLC now owns 1,457 shares of the CRM provider's stock valued at $487,000 after acquiring an additional 33 shares during the period. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CRM. Cantor Fitzgerald started coverage on Salesforce in a research note on Wednesday, April 23rd. They issued an "overweight" rating and a $210.00 price objective for the company. Needham & Company LLC reiterated a "buy" rating and issued a $400.00 target price on shares of Salesforce in a research report on Wednesday. Piper Sandler reissued an "overweight" rating on shares of Salesforce in a research note on Wednesday. Stephens began coverage on Salesforce in a report on Wednesday, March 19th. They issued an "equal weight" rating and a $311.00 price objective for the company. Finally, Barclays decreased their price target on shares of Salesforce from $425.00 to $347.00 and set an "overweight" rating for the company in a research note on Thursday. Two analysts have rated the stock with a sell rating, six have given a hold rating, thirty have assigned a buy rating and five have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $341.87.

Insider Buying and Selling at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 1,909 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $284.58, for a total value of $543,263.22. Following the completion of the sale, the chief accounting officer now directly owns 11,310 shares in the company, valued at $3,218,599.80. This represents a 14.44% 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 Srinivas Tallapragada sold 6,697 shares of Salesforce stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $295.00, for a total transaction of $1,975,615.00. Following the completion of the sale, the insider now owns 41,422 shares in the company, valued at $12,219,490. This trade represents a 13.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 46,553 shares of company stock valued at $12,897,323. 3.20% of the stock is currently owned by company insiders.

Salesforce Stock Down 4.7%

NYSE:CRM traded down $12.99 during trading hours on Thursday, hitting $263.04. 17,916,824 shares of the company's stock traded hands, compared to its average volume of 6,995,003. The stock's fifty day moving average price is $268.16 and its two-hundred day moving average price is $305.79. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market cap of $252.88 billion, a P/E ratio of 43.28, a P/E/G ratio of 2.58 and a beta of 1.42. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00.

Salesforce (NYSE:CRM - Get Free Report) last released its quarterly earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.03. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company had revenue of $9.83 billion during the quarter, compared to the consensus estimate of $9.74 billion. During the same quarter in the prior year, the company posted $2.44 EPS. The firm's revenue was up 7.6% on a year-over-year basis. On average, research analysts expect that Salesforce, Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were issued a $0.42 dividend. The ex-dividend date was Thursday, April 10th. This is a boost from Salesforce's previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.64%. Salesforce's dividend payout ratio is presently 26.10%.

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.