New Age Alpha Advisors LLC Grows Stock Position in Salesforce Inc. (NYSE:CRM)

New Age Alpha Advisors LLC grew its holdings in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 237.3% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 34,739 shares of the CRM provider's stock after purchasing an additional 24,440 shares during the quarter. New Age Alpha Advisors LLC's holdings in Salesforce were worth $9,323,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bernard Wealth Management Corp. purchased a new stake in shares of Salesforce during the 4th quarter valued at about $25,000. Accredited Wealth Management LLC purchased a new stake in shares of Salesforce during the 4th quarter valued at about $27,000. Capital A Wealth Management LLC raised its stake in Salesforce by 450.0% during the 1st quarter. Capital A Wealth Management LLC now owns 110 shares of the CRM provider's stock worth $30,000 after acquiring an additional 90 shares during the period. CBIZ Investment Advisory Services LLC raised its stake in Salesforce by 314.8% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 112 shares of the CRM provider's stock worth $30,000 after acquiring an additional 85 shares during the period. Finally, Abound Financial LLC bought a new stake in Salesforce during the 1st quarter worth approximately $31,000. Hedge funds and other institutional investors own 80.43% of the company's stock.

Salesforce Stock Up 0.6%

NYSE:CRM opened at $252.21 on Tuesday. Salesforce Inc. has a twelve month low of $230.00 and a twelve month high of $369.00. The company has a market cap of $241.11 billion, a price-to-earnings ratio of 39.47, a price-to-earnings-growth ratio of 2.28 and a beta of 1.37. The stock has a fifty day simple moving average of $265.62 and a 200-day simple moving average of $281.14. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM - Get Free Report) last released its 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 business had revenue of $9.83 billion during the quarter, compared to the consensus estimate of $9.74 billion. During the same period last year, the company earned $2.44 earnings per share. The business's revenue for the quarter was up 7.6% compared to the same quarter last year. Analysts anticipate that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Wednesday, June 18th were issued a $0.416 dividend. This represents a $1.66 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Wednesday, June 18th. Salesforce's payout ratio is presently 25.98%.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Piper Sandler raised their target price on shares of Salesforce from $315.00 to $335.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 28th. Guggenheim upgraded shares of Salesforce from a "sell" rating to a "neutral" rating in a research note on Monday, April 21st. Northland Securities decreased their target price on shares of Salesforce from $423.00 to $396.00 and set an "outperform" rating on the stock in a research note on Thursday, May 29th. Stephens decreased their target price on shares of Salesforce from $311.00 to $309.00 and set an "equal weight" rating on the stock in a research note on Friday, May 30th. Finally, UBS Group set a $404.00 target price on shares of Salesforce and gave the stock an "overweight" rating in a research note on Wednesday, June 18th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-seven have given a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $348.16.

Insider Buying and Selling at Salesforce

In related news, CEO Marc Benioff sold 2,250 shares of Salesforce stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $251.94, for a total value of $566,865.00. Following the completion of the sale, the chief executive officer directly owned 11,911,571 shares in the company, valued at $3,001,001,197.74. The trade was a 0.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders sold 41,979 shares of company stock valued at $11,330,746 in the last ninety days. Insiders own 3.20% 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.

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