Salesforce, Inc. (NYSE:CRM) Stock Position Lowered by McGlone Suttner Wealth Management Inc.

McGlone Suttner Wealth Management Inc. lessened its position in Salesforce, Inc. (NYSE:CRM) by 16.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,645 shares of the CRM provider’s stock after selling 530 shares during the period. McGlone Suttner Wealth Management Inc.’s holdings in Salesforce were worth $696,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Osterweis Capital Management Inc. grew its holdings in shares of Salesforce by 463.1% in the 2nd quarter. Osterweis Capital Management Inc. now owns 3,283 shares of the CRM provider’s stock worth $694,000 after acquiring an additional 2,700 shares during the last quarter. Pointe Capital Management LLC grew its holdings in shares of Salesforce by 370.0% during the second quarter. Pointe Capital Management LLC now owns 1,551 shares of the CRM provider’s stock valued at $328,000 after buying an additional 1,221 shares in the last quarter. Walkner Condon Financial Advisors LLC grew its holdings in shares of Salesforce by 2.9% during the third quarter. Walkner Condon Financial Advisors LLC now owns 2,633 shares of the CRM provider’s stock valued at $534,000 after buying an additional 74 shares in the last quarter. Procyon Advisors LLC grew its holdings in shares of Salesforce by 72.3% during the third quarter. Procyon Advisors LLC now owns 29,481 shares of the CRM provider’s stock valued at $5,978,000 after buying an additional 12,371 shares in the last quarter. Finally, BlueCrest Capital Management Ltd purchased a new position in shares of Salesforce during the second quarter valued at $341,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Stock Performance

Shares of CRM stock traded down $0.20 during mid-day trading on Thursday, reaching $301.18. The stock had a trading volume of 4,876,082 shares, compared to its average volume of 5,764,980. The firm’s 50 day simple moving average is $294.19 and its 200 day simple moving average is $252.10. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a one year low of $187.31 and a one year high of $318.71. The firm has a market cap of $292.14 billion, a PE ratio of 71.75, a P/E/G ratio of 2.35 and a beta of 1.28.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The company had revenue of $9.29 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter last year, the company earned $1.01 EPS. The company’s quarterly revenue was up 10.8% on a year-over-year basis. On average, analysts forecast that Salesforce, Inc. will post 7.45 EPS for the current year.

Salesforce Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, March 13th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.53%. Salesforce’s payout ratio is presently 9.52%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Wells Fargo & Company lifted their price target on Salesforce from $280.00 to $290.00 and gave the company an “equal weight” rating in a report on Wednesday, February 21st. Mizuho restated a “buy” rating and issued a $345.00 target price (up previously from $325.00) on shares of Salesforce in a research note on Thursday, February 29th. TheStreet upgraded Salesforce from a “c+” rating to a “b-” rating in a research note on Friday, January 19th. Citigroup boosted their target price on Salesforce from $265.00 to $325.00 and gave the company a “neutral” rating in a research note on Monday, February 26th. Finally, Wolfe Research upgraded Salesforce from a “peer perform” rating to an “outperform” rating and set a $315.00 target price on the stock in a research note on Monday, December 18th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $304.32.

Insider Transactions at Salesforce

In related news, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $251.61, for a total transaction of $3,774,150.00. Following the completion of the sale, the chief executive officer now directly owns 13,896,166 shares of the company’s stock, valued at approximately $3,496,414,327.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $251.61, for a total value of $3,774,150.00. Following the transaction, the chief executive officer now directly owns 13,896,166 shares in the company, valued at approximately $3,496,414,327.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Sundeep G. Reddy sold 216 shares of the firm’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $278.71, for a total value of $60,201.36. Following the completion of the transaction, the chief accounting officer now owns 2,869 shares in the company, valued at $799,618.99. The disclosure for this sale can be found here. In the last ninety days, insiders sold 913,507 shares of company stock valued at $259,814,813. Corporate insiders own 3.70% of the company’s stock.

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.