Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Has $132.07 Million Stock Position in Salesforce, Inc. (NYSE:CRM)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA trimmed its position in Salesforce, Inc. (NYSE:CRM) by 0.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 469,853 shares of the CRM provider’s stock after selling 4,473 shares during the period. Salesforce comprises approximately 1.3% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings, making the stock its 25th largest holding. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Salesforce were worth $132,071,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Illinois Municipal Retirement Fund boosted its holdings in shares of Salesforce by 4.4% in the fourth quarter. Illinois Municipal Retirement Fund now owns 45,086 shares of the CRM provider’s stock worth $11,864,000 after buying an additional 1,880 shares during the period. 1900 Wealth Management LLC purchased a new stake in shares of Salesforce in the fourth quarter worth approximately $255,000. Aspire Private Capital LLC lifted its position in shares of Salesforce by 4.9% in the fourth quarter. Aspire Private Capital LLC now owns 3,023 shares of the CRM provider’s stock worth $795,000 after purchasing an additional 142 shares in the last quarter. California Public Employees Retirement System lifted its position in shares of Salesforce by 20.9% in the fourth quarter. California Public Employees Retirement System now owns 2,431,933 shares of the CRM provider’s stock worth $639,939,000 after purchasing an additional 420,231 shares in the last quarter. Finally, RWA Wealth Partners LLC lifted its position in shares of Salesforce by 674.1% in the fourth quarter. RWA Wealth Partners LLC now owns 17,649 shares of the CRM provider’s stock worth $4,644,000 after purchasing an additional 15,369 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Stock Performance

CRM traded up $3.46 during trading on Monday, reaching $273.83. 6,741,842 shares of the company’s stock were exchanged, compared to its average volume of 5,712,625. Salesforce, Inc. has a fifty-two week low of $190.57 and a fifty-two week high of $318.71. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The business has a 50 day moving average price of $297.00 and a 200 day moving average price of $262.79. The company has a market capitalization of $265.62 billion, a P/E ratio of 65.20, a PEG ratio of 2.08 and a beta of 1.28.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The firm had revenue of $9.29 billion for the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter in the previous year, the company earned $1.01 earnings per share. The business’s revenue was up 10.8% compared to the same quarter last year. As a group, analysts predict that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.58%. Salesforce’s payout ratio is presently 9.52%.

Insider Buying and Selling at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 216 shares of Salesforce stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $278.71, for a total transaction of $60,201.36. Following the completion of the transaction, the chief accounting officer now directly owns 2,869 shares of the company’s stock, valued at $799,618.99. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Salesforce news, CAO Sundeep G. Reddy sold 216 shares of Salesforce stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $278.71, for a total transaction of $60,201.36. Following the completion of the transaction, the chief accounting officer now directly owns 2,869 shares of the company’s stock, valued at $799,618.99. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Srinivas Tallapragada sold 10,000 shares of Salesforce stock in a transaction on Monday, January 29th. The shares were sold at an average price of $283.12, for a total value of $2,831,200.00. Following the transaction, the insider now directly owns 60,416 shares of the company’s stock, valued at $17,104,977.92. The disclosure for this sale can be found here. Over the last three months, insiders sold 596,595 shares of company stock valued at $175,648,172. 3.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Piper Sandler reissued a “neutral” rating and issued a $300.00 price target on shares of Salesforce in a research report on Monday, April 15th. JPMorgan Chase & Co. increased their price target on shares of Salesforce from $260.00 to $310.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. Needham & Company LLC reaffirmed a “buy” rating and set a $345.00 price objective on shares of Salesforce in a research report on Monday, April 15th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $350.00 price objective (up previously from $325.00) on shares of Salesforce in a research report on Friday, April 12th. Finally, Jefferies Financial Group raised their price objective on shares of Salesforce from $350.00 to $360.00 and gave the company a “buy” rating in a research report on Monday. Nine equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $310.61.

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.