Fiduciary Group LLC Sells 4,068 Shares of Salesforce, Inc. (NYSE:CRM)

Fiduciary Group LLC trimmed its stake in Salesforce, Inc. (NYSE:CRM) by 31.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,697 shares of the CRM provider’s stock after selling 4,068 shares during the period. Fiduciary Group LLC’s holdings in Salesforce were worth $2,289,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of CRM. Bear Mountain Capital Inc. purchased a new stake in shares of Salesforce in the fourth quarter valued at $26,000. Kathleen S. Wright Associates Inc. purchased a new position in shares of Salesforce during the fourth quarter valued at approximately $31,000. BKM Wealth Management LLC purchased a new position in shares of Salesforce during the fourth quarter valued at approximately $34,000. Pacifica Partners Inc. grew its stake in shares of Salesforce by 333.3% during the fourth quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock valued at $33,000 after buying an additional 100 shares during the last quarter. Finally, AlphaMark Advisors LLC raised its holdings in shares of Salesforce by 892.9% in the fourth quarter. AlphaMark Advisors LLC now owns 139 shares of the CRM provider’s stock worth $37,000 after buying an additional 125 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling at Salesforce

In related news, insider Srinivas Tallapragada sold 10,000 shares of the firm’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $283.12, for a total transaction of $2,831,200.00. Following the sale, the insider now directly owns 60,416 shares of the company’s stock, valued at $17,104,977.92. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider Srinivas Tallapragada sold 10,000 shares of the business’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $283.12, for a total value of $2,831,200.00. Following the completion of the transaction, the insider now directly owns 60,416 shares in the company, valued at approximately $17,104,977.92. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Brian Millham sold 24,453 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $302.08, for a total transaction of $7,386,762.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 620,793 shares of company stock worth $182,177,918. Insiders own 3.70% of the company’s stock.

Salesforce Stock Performance

Shares of NYSE CRM traded up $1.15 during mid-day trading on Friday, hitting $274.29. The stock had a trading volume of 3,754,585 shares, compared to its average volume of 5,162,527. The firm has a market cap of $266.06 billion, a PE ratio of 65.31, a PEG ratio of 2.11 and a beta of 1.28. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The company has a 50 day moving average of $295.97 and a two-hundred day moving average of $264.30. Salesforce, Inc. has a twelve month low of $190.76 and a twelve month high of $318.71.

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

Salesforce Dividend Announcement

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

Analysts Set New Price Targets

CRM has been the topic of several research analyst reports. Wells Fargo & Company upped their price objective on Salesforce from $280.00 to $290.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 21st. Citigroup raised their price target on shares of Salesforce from $265.00 to $325.00 and gave the stock a “neutral” rating in a research note on Monday, February 26th. JPMorgan Chase & Co. boosted their price objective on shares of Salesforce from $260.00 to $310.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. Bank of America raised their target price on shares of Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Finally, StockNews.com cut Salesforce from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 19th. Nine investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price 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.