Mercer Global Advisors Inc. ADV Has $43.73 Million Position in Salesforce, Inc. (NYSE:CRM)

18 Sep 2024, 15:32 by Teresa Graham · The Cerbat Gem

Mercer Global Advisors Inc. ADV grew its holdings in Salesforce, Inc. (NYSE:CRM – Free Report) by 0.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 170,106 shares of the CRM provider’s stock after purchasing an additional 1,328 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Salesforce were worth $43,734,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Ruedi Wealth Management Inc. boosted its stake in Salesforce by 186.7% in the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after purchasing an additional 56 shares in the last quarter. Piscataqua Savings Bank raised its holdings in Salesforce by 2,400.0% during the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after purchasing an additional 96 shares during the last quarter. Clear Investment Research LLC raised its holdings in Salesforce by 816.7% during the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after purchasing an additional 98 shares during the last quarter. Red Tortoise LLC bought a new stake in Salesforce during the 1st quarter worth about $33,000. Finally, Stephens Consulting LLC raised its holdings in Salesforce by 3,125.0% during the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 125 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In other news, CAO Sundeep G. Reddy sold 413 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total transaction of $105,637.14. Following the sale, the chief accounting officer now owns 6,431 shares in the company, valued at approximately $1,644,921.18. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Srinivas Tallapragada sold 942 shares of the stock in a transaction on Monday, June 24th. The stock was sold at an average price of $242.32, for a total value of $228,265.44. Following the sale, the insider now owns 22,154 shares in the company, valued at approximately $5,368,357.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Sundeep G. Reddy sold 413 shares of the stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total value of $105,637.14. Following the completion of the sale, the chief accounting officer now owns 6,431 shares in the company, valued at approximately $1,644,921.18. The disclosure for this sale can be found here. Insiders have sold a total of 62,376 shares of company stock worth $15,878,005 in the last 90 days. Corporate insiders own 3.20% of the company’s stock.

Salesforce Trading Down 0.6 %

Shares of Salesforce stock opened at $255.32 on Wednesday. Salesforce, Inc. has a 12-month low of $193.68 and a 12-month high of $318.71. The stock has a market cap of $247.41 billion, a P/E ratio of 45.92, a P/E/G ratio of 2.26 and a beta of 1.29. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The business’s 50 day moving average is $253.61 and its 200-day moving average is $267.11.

Salesforce (NYSE:CRM – Get Free Report) last announced its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The company had revenue of $9.33 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter in the prior year, the business posted $1.63 EPS. The business’s revenue was up 8.5% compared to the same quarter last year. Equities research analysts predict that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date is Wednesday, September 18th. Salesforce’s dividend payout ratio is currently 28.78%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CRM. FBN Securities raised Salesforce to a “strong-buy” rating in a report on Thursday, August 29th. Barclays dropped their price objective on Salesforce from $355.00 to $305.00 and set an “overweight” rating for the company in a report on Thursday, May 30th. Wedbush reissued an “outperform” rating and set a $315.00 price objective on shares of Salesforce in a report on Thursday, August 29th. Loop Capital boosted their price objective on Salesforce from $240.00 to $270.00 and gave the stock a “hold” rating in a report on Thursday, August 29th. Finally, BMO Capital Markets boosted their target price on Salesforce from $265.00 to $305.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Nine research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $305.55.

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