Fri Sep 20 14:17:26 UTC 2024: ## SYSTM Wealth Solutions Cuts Salesforce Stake, Other Funds Adjust Holdings
**New York, NY (MarketBeat News) -** SYSTM Wealth Solutions LLC significantly reduced its holdings in Salesforce, Inc. (NYSE: CRM) during the second quarter, selling off 61.4% of its shares, according to a recent 13F filing. The institutional investor now owns 245 shares of the CRM provider valued at $63,000.
This move comes as several other hedge funds have been adjusting their stakes in Salesforce. Vanguard Group Inc. increased its position by 1.2% in the first quarter, now owning 84,635,254 shares worth $25,490,446,000. Capital World Investors, Fisher Asset Management LLC, Capital Research Global Investors, and Capital International Investors also increased their stakes in the company over recent quarters.
Salesforce shares opened at $265.87 on Friday, with a market cap of $257.63 billion. The company recently announced a quarterly dividend of $0.40 per share, payable on October 8th.
Insider trading activity also impacted Salesforce stock. COO Brian Millham and insider Parker Harris both sold shares of the company in August. Analysts have mixed opinions on Salesforce, with nine rating it a hold, twenty-six rating it a buy, and three rating it a strong buy. The average target price is $306.00.
Salesforce, Inc. provides CRM technology for businesses worldwide, including sales, service, and marketing solutions. The company has a debt-to-equity ratio of 0.15 and a quick ratio of 1.04.
While SYSTM Wealth Solutions’ move suggests potential concerns about Salesforce’s future performance, the overall sentiment from institutional investors remains positive. The company’s strong dividend and recent insider trading activity will likely continue to be closely watched by market participants.
First Piper 