Stephens Consulting LLC Acquires 125 Shares of Salesforce, Inc. (NYSE:CRM)

Stephens Consulting LLC boosted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 3,125.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 129 shares of the CRM provider’s stock after buying an additional 125 shares during the period. Stephens Consulting LLC’s holdings in Salesforce were worth $33,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Ruedi Wealth Management Inc. grew its stake in Salesforce by 186.7% in the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock valued at $26,000 after buying an additional 56 shares during the last quarter. Signature Resources Capital Management LLC acquired a new stake in Salesforce during the 4th quarter worth approximately $26,000. Piscataqua Savings Bank boosted its stake in Salesforce by 2,400.0% in the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 96 shares during the period. Red Tortoise LLC acquired a new position in Salesforce in the 1st quarter valued at $33,000. Finally, Creekmur Asset Management LLC bought a new position in Salesforce during the 4th quarter worth $35,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Trading Down 1.6 %

CRM traded down $4.11 during trading on Friday, hitting $252.90. The company’s stock had a trading volume of 10,391,372 shares, compared to its average volume of 6,635,113. The firm has a market capitalization of $245.06 billion, a P/E ratio of 45.49, a PEG ratio of 2.22 and a beta of 1.29. Salesforce, Inc. has a twelve month low of $193.68 and a twelve month high of $318.71. The stock’s fifty day moving average price is $254.28 and its 200-day moving average price is $271.44. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.20. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. The business had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same period in the prior year, the firm earned $1.63 earnings per share. Salesforce’s revenue was up 8.5% on a year-over-year basis. Analysts anticipate that Salesforce, Inc. will post 7.47 EPS for the current year.

Salesforce Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Tuesday, July 9th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date of this dividend was Tuesday, July 9th. Salesforce’s dividend payout ratio (DPR) is currently 28.78%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CRM shares. Jefferies Financial Group cut their price objective on shares of Salesforce from $360.00 to $350.00 and set a “buy” rating for the company in a research report on Thursday, May 30th. Sanford C. Bernstein increased their price target on shares of Salesforce from $234.00 to $236.00 and gave the stock an “outperform” rating in a research report on Thursday. Evercore ISI restated an “outperform” rating and set a $300.00 price objective on shares of Salesforce in a research report on Monday. Robert W. Baird boosted their price target on Salesforce from $295.00 to $315.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Raymond James lifted their target price on Salesforce from $325.00 to $350.00 and gave the company a “strong-buy” rating in a research report on Thursday. Nine equities research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $302.00.

Insider Buying and Selling

In other news, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $262.90, for a total transaction of $1,104,180.00. Following the completion of the sale, the insider now owns 117,581 shares in the company, valued at $30,912,044.90. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Salesforce news, insider Srinivas Tallapragada sold 942 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $242.32, for a total transaction of $228,265.44. Following the completion of the sale, the insider now directly owns 22,154 shares of the company’s stock, valued at approximately $5,368,357.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $262.90, for a total value of $1,104,180.00. Following the completion of the transaction, the insider now owns 117,581 shares in the company, valued at approximately $30,912,044.90. The disclosure for this sale can be found here. In the last three months, insiders have sold 112,964 shares of company stock valued at $27,956,647. 3.20% of the stock is owned by company insiders.

About Salesforce

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.