Yousif Capital Management LLC Sells 779 Shares of Salesforce, Inc. (NYSE:CRM)

Yousif Capital Management LLC cut its position in Salesforce, Inc. (NYSE:CRM) by 0.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 136,400 shares of the CRM provider’s stock after selling 779 shares during the quarter. Salesforce comprises about 0.4% of Yousif Capital Management LLC’s portfolio, making the stock its 28th biggest holding. Yousif Capital Management LLC’s holdings in Salesforce were worth $35,892,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CRM. Marks Group Wealth Management Inc raised its holdings in Salesforce by 0.7% in the 4th quarter. Marks Group Wealth Management Inc now owns 35,220 shares of the CRM provider’s stock valued at $9,268,000 after acquiring an additional 257 shares in the last quarter. Walkner Condon Financial Advisors LLC boosted its position in shares of Salesforce by 2.9% during the 3rd quarter. Walkner Condon Financial Advisors LLC now owns 2,633 shares of the CRM provider’s stock valued at $534,000 after purchasing an additional 74 shares in the last quarter. Roman Butler Fullerton & Co. boosted its position in shares of Salesforce by 1.4% during the 4th quarter. Roman Butler Fullerton & Co. now owns 7,881 shares of the CRM provider’s stock valued at $2,206,000 after purchasing an additional 105 shares in the last quarter. Pure Financial Advisors LLC bought a new stake in shares of Salesforce during the 4th quarter valued at about $214,000. Finally, Riversedge Advisors LLC raised its stake in Salesforce by 21.7% during the 3rd quarter. Riversedge Advisors LLC now owns 2,353 shares of the CRM provider’s stock worth $477,000 after buying an additional 420 shares during the period. 80.43% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $274.03, for a total value of $4,110,450.00. Following the transaction, the chief executive officer now directly owns 12,812,327 shares of the company’s stock, valued at approximately $3,510,961,967.81. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Salesforce news, COO Brian Millham sold 393 shares of the stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $280.00, for a total value of $110,040.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Marc Benioff sold 15,000 shares of the stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $274.03, for a total value of $4,110,450.00. Following the completion of the sale, the chief executive officer now owns 12,812,327 shares of the company’s stock, valued at approximately $3,510,961,967.81. The disclosure for this sale can be found here. Insiders have sold 611,379 shares of company stock valued at $179,698,420 in the last ninety days. 3.70% of the stock is currently owned by company insiders.

Salesforce Stock Up 1.0 %

CRM traded up $2.82 during trading on Tuesday, hitting $276.63. 6,283,041 shares of the company’s stock traded hands, compared to its average volume of 5,718,907. The company’s 50 day simple moving average is $296.91 and its two-hundred day simple moving average is $263.28. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 12-month low of $190.57 and a 12-month high of $318.71. The stock has a market capitalization of $268.33 billion, a price-to-earnings ratio of 65.86, a PEG ratio of 2.08 and a beta of 1.28.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.06. The firm had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The company’s revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.01 EPS. Analysts predict that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.60 annualized dividend and a dividend yield of 0.58%. Salesforce’s payout ratio is 9.52%.

Wall Street Analysts Forecast Growth

CRM has been the topic of a number of research reports. Canaccord Genuity Group reaffirmed a “buy” rating and set a $350.00 price target on shares of Salesforce in a research note on Thursday, March 7th. Bank of America upped their price target on Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. Wolfe Research reissued an “outperform” rating and issued a $365.00 price objective on shares of Salesforce in a research note on Tuesday, April 16th. Robert W. Baird increased their price objective on Salesforce from $310.00 to $355.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Finally, Evercore ISI increased their price objective on Salesforce from $290.00 to $330.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Nine analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $310.61.

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.