Salesforce, Inc. (NYSE:CRM) Shares Sold by Wambolt & Associates LLC

Wambolt & Associates LLC cut its position in Salesforce, Inc. (NYSE:CRM) by 17.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,029 shares of the CRM provider’s stock after selling 218 shares during the quarter. Wambolt & Associates LLC’s holdings in Salesforce were worth $264,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Fox Hill Wealth Management grew its holdings in shares of Salesforce by 4.0% during the first quarter. Fox Hill Wealth Management now owns 985 shares of the CRM provider’s stock worth $297,000 after buying an additional 38 shares in the last quarter. Pinnacle Wealth Planning Services Inc. grew its stake 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 during the period. Glassman Wealth Services grew its stake in Salesforce by 2.9% in the 4th 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. Blue Barn Wealth LLC raised its holdings in Salesforce by 1.8% in the 1st quarter. Blue Barn Wealth LLC now owns 2,207 shares of the CRM provider’s stock valued at $665,000 after acquiring an additional 39 shares during the last quarter. Finally, Catalyst Financial Partners LLC lifted its stake in shares of Salesforce by 0.8% during the 2nd quarter. Catalyst Financial Partners LLC now owns 4,876 shares of the CRM provider’s stock worth $1,254,000 after purchasing an additional 39 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Trading Up 1.6 %

CRM opened at $253.46 on Friday. Salesforce, Inc. has a 12-month low of $193.68 and a 12-month high of $318.71. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market capitalization of $245.60 billion, a PE ratio of 45.59, a P/E/G ratio of 2.21 and a beta of 1.29. The firm’s fifty day moving average price is $253.73 and its 200 day moving average price is $268.67.

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, beating analysts’ consensus estimates of $2.36 by $0.20. The business had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.63 EPS. As a group, research analysts expect that Salesforce, Inc. will post 7.54 EPS for the current fiscal year.

Salesforce Announces Dividend

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

Insider Activity at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of the business’s 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 completion of the sale, the chief accounting officer now owns 6,431 shares in the company, valued at $1,644,921.18. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CFO Amy E. Weaver sold 897 shares of the business’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 $229,434.66. Following the completion of the transaction, the chief financial officer now owns 51,109 shares in the company, valued at approximately $13,072,660.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Sundeep G. Reddy sold 413 shares of the stock in a transaction on Tuesday, July 23rd. The stock was 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 directly owns 6,431 shares in the company, valued at $1,644,921.18. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 62,376 shares of company stock valued at $15,878,005. Corporate insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

CRM has been the subject of a number of recent analyst reports. Raymond James lifted their price objective on Salesforce from $325.00 to $350.00 and gave the company a “strong-buy” rating in a research report on Thursday, August 29th. Robert W. Baird upped their price objective on shares of Salesforce from $295.00 to $315.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Macquarie cut their price objective on shares of Salesforce from $330.00 to $275.00 and set an “outperform” rating on the stock in a report on Friday, May 31st. Wells Fargo & Company boosted their target price on shares of Salesforce from $250.00 to $275.00 and gave the company an “equal weight” rating in a report on Thursday, August 29th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $300.00 price target on shares of Salesforce in a research note on Thursday, August 29th. Nine equities research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $304.41.

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.