Kovack Advisors Inc. Has $3.11 Million Stake in Salesforce, Inc. (NYSE:CRM)

Kovack Advisors Inc. increased its holdings in Salesforce, Inc. (NYSE:CRM) by 2.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 11,815 shares of the CRM provider’s stock after buying an additional 271 shares during the period. Kovack Advisors Inc.’s holdings in Salesforce were worth $3,109,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CRM. Bear Mountain Capital Inc. acquired a new stake in shares of Salesforce in the fourth quarter valued at approximately $26,000. Kathleen S. Wright Associates Inc. acquired a new stake in shares of Salesforce in the fourth quarter valued at approximately $31,000. Pacifica Partners Inc. raised its position in shares of Salesforce by 333.3% in the fourth quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock valued at $33,000 after buying an additional 100 shares in the last quarter. BKM Wealth Management LLC acquired a new stake in shares of Salesforce in the fourth quarter valued at approximately $34,000. Finally, AlphaMark Advisors LLC raised its position in Salesforce by 892.9% during the fourth quarter. AlphaMark Advisors LLC now owns 139 shares of the CRM provider’s stock valued at $37,000 after purchasing an additional 125 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Trading Up 0.4 %

CRM traded up $1.07 during trading on Friday, reaching $274.21. 3,753,890 shares of the stock traded hands, compared to its average volume of 5,661,873. 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 stock has a market capitalization of $265.98 billion, a PE ratio of 65.29, a P/E/G ratio of 2.12 and a beta of 1.28. The stock’s 50-day moving average is $295.97 and its 200 day moving average is $263.90. Salesforce, Inc. has a 12 month low of $190.76 and a 12 month high of $318.71.

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

Salesforce Dividend Announcement

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

Insider Activity

In other news, CAO Sundeep G. Reddy sold 2,425 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total transaction of $662,388.75. Following the transaction, the chief accounting officer now owns 5,856 shares in the company, valued at $1,599,566.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Sundeep G. Reddy sold 2,425 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total transaction of $662,388.75. Following the transaction, the chief accounting officer now owns 5,856 shares in the company, valued at $1,599,566.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Amy E. Weaver sold 942 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $305.46, for a total transaction of $287,743.32. Following the transaction, the chief financial officer now owns 39,416 shares in the company, valued at approximately $12,040,011.36. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 620,793 shares of company stock worth $182,177,918. Company insiders own 3.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. KeyCorp assumed coverage on shares of Salesforce in a research report on Thursday, March 21st. They set a “sector weight” rating for the company. JPMorgan Chase & Co. boosted their price objective on shares of Salesforce from $260.00 to $310.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. Wolfe Research restated an “outperform” rating and set a $365.00 price objective on shares of Salesforce in a research report on Tuesday, April 16th. Robert W. Baird boosted their price objective on shares of Salesforce from $310.00 to $355.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. Finally, Bank of America boosted 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 Thursday, February 29th. Nine research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.