Davis R M Inc. Has $819,000 Position in Salesforce Inc. (NYSE:CRM)

by · The Cerbat Gem

Davis R M Inc. raised its position in Salesforce Inc. (NYSE:CRM – Free Report) by 6.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,051 shares of the CRM provider’s stock after acquiring an additional 186 shares during the quarter. Davis R M Inc.’s holdings in Salesforce were worth $819,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in CRM. Bernard Wealth Management Corp. acquired a new stake in Salesforce in the fourth quarter valued at $25,000. Accredited Wealth Management LLC acquired a new stake in shares of Salesforce during the 4th quarter worth about $27,000. Capital A Wealth Management LLC lifted its stake in shares of Salesforce by 450.0% during the 1st quarter. Capital A Wealth Management LLC now owns 110 shares of the CRM provider’s stock worth $30,000 after buying an additional 90 shares during the last quarter. CBIZ Investment Advisory Services LLC lifted its stake in shares of Salesforce by 314.8% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 112 shares of the CRM provider’s stock worth $30,000 after buying an additional 85 shares during the last quarter. Finally, Abound Financial LLC acquired a new stake in shares of Salesforce during the 1st quarter worth about $31,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Trading Down 2.4%

CRM opened at $258.57 on Friday. Salesforce Inc. has a fifty-two week low of $230.00 and a fifty-two week high of $369.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a market capitalization of $247.19 billion, a price-to-earnings ratio of 40.46, a PEG ratio of 2.40 and a beta of 1.36. The company’s 50 day moving average price is $266.48 and its two-hundred day moving average price is $282.69.

Salesforce (NYSE:CRM – Get Free Report) last posted its earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share for the quarter, topping analysts’ consensus estimates of $2.55 by $0.03. The firm had revenue of $9.83 billion for the quarter, compared to analyst estimates of $9.74 billion. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.44 EPS. As a group, research analysts predict that Salesforce Inc. will post 7.46 earnings per share for the current year.

Salesforce Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th were given a $0.416 dividend. The ex-dividend date was Wednesday, June 18th. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.6%. Salesforce’s payout ratio is 25.98%.

Insider Buying and Selling

In other news, insider Srinivas Tallapragada sold 6,697 shares of the business’s stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $295.00, for a total value of $1,975,615.00. Following the transaction, the insider owned 41,422 shares in the company, valued at approximately $12,219,490. The trade was a 13.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Marc Benioff sold 2,250 shares of the business’s stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of $259.67, for a total transaction of $584,257.50. Following the completion of the transaction, the chief executive officer owned 11,955,566 shares in the company, valued at $3,104,501,823.22. This trade represents a 0.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 39,729 shares of company stock worth $10,763,881 in the last 90 days. Corporate insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CRM. Citigroup cut their target price on shares of Salesforce from $320.00 to $295.00 and set a “neutral” rating for the company in a research note on Friday, May 30th. Erste Group Bank cut shares of Salesforce from a “buy” rating to a “hold” rating in a research note on Thursday, June 5th. Oppenheimer restated an “outperform” rating and set a $370.00 target price on shares of Salesforce in a research note on Tuesday, June 10th. Cantor Fitzgerald cut shares of Salesforce from an “overweight” rating to a “cautious” rating in a research note on Thursday, July 10th. Finally, Sanford C. Bernstein raised their target price on shares of Salesforce from $243.00 to $255.00 and gave the stock an “underperform” rating in a research note on Thursday, May 29th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-seven have assigned a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $348.16.

View Our Latest Stock Report on Salesforce

Salesforce Company Profile

(Free Report)

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.

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