WD Rutherford LLC Has $4.12 Million Position in Salesforce, Inc. (NYSE:CRM)

WD Rutherford LLC lowered its position in Salesforce, Inc. (NYSE:CRM) by 1.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,698 shares of the CRM provider’s stock after selling 170 shares during the quarter. Salesforce accounts for approximately 2.5% of WD Rutherford LLC’s investment portfolio, making the stock its 12th largest position. WD Rutherford LLC’s holdings in Salesforce were worth $4,120,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Northern Trust Corp boosted its holdings in shares of Salesforce by 1.1% during the 3rd quarter. Northern Trust Corp now owns 11,195,108 shares of the CRM provider’s stock worth $2,270,144,000 after buying an additional 121,436 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Salesforce by 0.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,251,891 shares of the CRM provider’s stock valued at $1,064,978,000 after buying an additional 19,888 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Salesforce by 7.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 4,678,330 shares of the CRM provider’s stock valued at $948,676,000 after buying an additional 309,881 shares during the last quarter. Cerity Partners LLC raised its position in Salesforce by 1,254.7% in the 4th quarter. Cerity Partners LLC now owns 3,483,670 shares of the CRM provider’s stock valued at $916,693,000 after buying an additional 3,226,512 shares during the last quarter. Finally, American Century Companies Inc. raised its position in Salesforce by 16.1% in the 3rd quarter. American Century Companies Inc. now owns 3,198,494 shares of the CRM provider’s stock valued at $648,591,000 after buying an additional 444,652 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Trading Up 0.4 %

Salesforce stock opened at $274.21 on Friday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The business’s fifty day simple moving average is $295.97 and its two-hundred day simple moving average is $263.90. Salesforce, Inc. has a 12 month low of $190.76 and a 12 month high of $318.71. The company has a market capitalization of $265.98 billion, a price-to-earnings ratio of 65.29, a price-to-earnings-growth ratio of 2.10 and a beta of 1.28.

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

Salesforce Dividend Announcement

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

Insider Buying and Selling at Salesforce

In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $315.54, for a total value of $4,733,100.00. Following the transaction, the chief executive officer now owns 13,311,166 shares of the company’s stock, valued at $4,200,205,319.64. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider Srinivas Tallapragada sold 10,000 shares of the firm’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $285.20, for a total value of $2,852,000.00. Following the transaction, the insider now owns 60,416 shares of the company’s stock, valued at $17,230,643.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $315.54, for a total value of $4,733,100.00. Following the completion of the transaction, the chief executive officer now directly owns 13,311,166 shares in the company, valued at approximately $4,200,205,319.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 620,793 shares of company stock valued at $182,177,918. 3.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Evercore ISI increased their price target on Salesforce from $290.00 to $330.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. Argus raised their target price on Salesforce from $290.00 to $354.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Robert W. Baird raised their target price on Salesforce from $310.00 to $355.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. Piper Sandler reaffirmed a “neutral” rating and set a $300.00 target price on shares of Salesforce in a research report on Monday, April 15th. Finally, Wolfe Research reaffirmed an “outperform” rating and set a $365.00 target price on shares of Salesforce in a research report on Tuesday, April 16th. Nine investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Salesforce presently 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.