Boston Financial Mangement LLC Grows Holdings in Salesforce, Inc. (NYSE:CRM)

Boston Financial Mangement LLC lifted its position in shares of Salesforce, Inc. (NYSE:CRM) by 3.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,855 shares of the CRM provider’s stock after acquiring an additional 703 shares during the quarter. Boston Financial Mangement LLC’s holdings in Salesforce were worth $6,133,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. JFS Wealth Advisors LLC grew its holdings in Salesforce by 11.4% in the fourth quarter. JFS Wealth Advisors LLC now owns 353 shares of the CRM provider’s stock valued at $93,000 after purchasing an additional 36 shares during the period. Fox Hill Wealth Management grew its stake in Salesforce by 4.0% in the 1st quarter. Fox Hill Wealth Management now owns 985 shares of the CRM provider’s stock valued at $297,000 after acquiring an additional 38 shares during the period. Pinnacle Wealth Planning Services Inc. increased its holdings in Salesforce by 0.8% in the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 4,946 shares of the CRM provider’s stock worth $1,490,000 after acquiring an additional 38 shares in the last quarter. Glassman Wealth Services raised its position in Salesforce by 2.9% during the fourth quarter. Glassman Wealth Services now owns 1,369 shares of the CRM provider’s stock worth $360,000 after acquiring an additional 39 shares during the period. Finally, Blue Barn Wealth LLC lifted its holdings in Salesforce by 1.8% during the first quarter. Blue Barn Wealth LLC now owns 2,207 shares of the CRM provider’s stock valued at $665,000 after purchasing an additional 39 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Salesforce

In related news, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total transaction of $105,637.14. Following the sale, the chief accounting officer now directly owns 6,431 shares in the company, valued at approximately $1,644,921.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO Sundeep G. Reddy sold 413 shares of the firm’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 transaction, the chief accounting officer now owns 6,431 shares in the company, valued at approximately $1,644,921.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Amy E. Weaver sold 897 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total value of $229,434.66. Following the completion of the sale, the chief financial officer now owns 51,109 shares of the company’s stock, valued at approximately $13,072,660.02. The disclosure for this sale can be found here. In the last quarter, insiders sold 112,964 shares of company stock worth $27,956,647. 3.20% of the stock is currently owned by insiders.

Salesforce Stock Down 1.6 %

Shares of Salesforce stock traded down $4.11 during trading on Friday, hitting $252.90. 10,391,372 shares of the stock were exchanged, compared to its average volume of 6,635,113. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The firm’s 50-day moving average price is $254.28 and its 200 day moving average price is $271.44. The stock has a market cap of $245.06 billion, a price-to-earnings ratio of 45.49, a price-to-earnings-growth ratio of 2.22 and a beta of 1.29. Salesforce, Inc. has a 12-month low of $193.68 and a 12-month high of $318.71.

Salesforce (NYSE:CRM) last announced its quarterly earnings results 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 11.57% and a net margin of 15.30%. The company had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same period in the previous year, the business earned $1.63 EPS. Salesforce’s revenue for the quarter was up 8.5% on a year-over-year basis. As a group, analysts forecast that Salesforce, Inc. will post 7.47 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

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

Wall Street Analysts Forecast Growth

CRM has been the subject of a number of research reports. Citigroup boosted their target price on shares of Salesforce from $260.00 to $290.00 and gave the stock a “neutral” rating in a research note on Monday. UBS Group increased their target price on Salesforce from $250.00 to $275.00 and gave the company a “neutral” rating in a report on Thursday. Needham & Company LLC reaffirmed a “buy” rating and issued a $345.00 price target on shares of Salesforce in a research note on Thursday. Mizuho reduced their price objective on Salesforce from $345.00 to $300.00 and set a “buy” rating for the company in a research note on Thursday, May 30th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Salesforce from $300.00 to $310.00 and gave the stock an “overweight” rating in a research note on Thursday. Nine 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. Based on data from MarketBeat, Salesforce currently has an average rating of “Moderate Buy” and a consensus target price of $302.00.

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.