Salesforce, Inc. (NYSE:CRM) Stock Holdings Increased by Westside Investment Management Inc.

Westside Investment Management Inc. boosted its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 0.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,712 shares of the CRM provider’s stock after acquiring an additional 42 shares during the quarter. Westside Investment Management Inc.’s holdings in Salesforce were worth $1,240,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Union Savings Bank bought a new position in shares of Salesforce in the second quarter valued at approximately $27,000. Pacifica Partners Inc. raised its position in shares of Salesforce by 333.3% in the fourth quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 100 shares during the period. BKM Wealth Management LLC bought a new position in shares of Salesforce in the fourth quarter valued at approximately $34,000. GHP Investment Advisors Inc. raised its position in shares of Salesforce by 30.4% in the fourth quarter. GHP Investment Advisors Inc. now owns 270 shares of the CRM provider’s stock valued at $36,000 after purchasing an additional 63 shares during the period. Finally, Live Oak Investment Partners acquired a new stake in shares of Salesforce in the fourth quarter worth $36,000. Institutional investors own 77.52% of the company’s stock.

Insider Activity at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 216 shares of the company’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $278.71, for a total transaction of $60,201.36. Following the completion of the transaction, the chief accounting officer now owns 2,869 shares of the company’s stock, valued at approximately $799,618.99. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Salesforce news, CAO Sundeep G. Reddy sold 216 shares of the company’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $278.71, for a total transaction of $60,201.36. Following the completion of the transaction, the chief accounting officer now owns 2,869 shares of the company’s stock, valued at approximately $799,618.99. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Amy E. Weaver sold 942 shares of the company’s stock in a transaction that occurred on Tuesday, December 26th. The stock was sold at an average price of $265.39, for a total value of $249,997.38. Following the transaction, the chief financial officer now directly owns 37,979 shares of the company’s stock, valued at approximately $10,079,246.81. The disclosure for this sale can be found here. In the last three months, insiders sold 1,169,296 shares of company stock worth $326,477,726. 3.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

CRM has been the topic of several research analyst reports. Mizuho restated a “buy” rating and issued a $345.00 price objective (up previously from $325.00) on shares of Salesforce in a research note on Thursday, February 29th. Canaccord Genuity Group reiterated a “buy” rating and set a $350.00 price target on shares of Salesforce in a research note on Thursday, March 7th. TheStreet upgraded shares of Salesforce from a “c+” rating to a “b-” rating in a research note on Friday, January 19th. Royal Bank of Canada lifted their price target on shares of Salesforce from $285.00 to $325.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Finally, Citigroup lifted their price objective on Salesforce from $265.00 to $325.00 and gave the company a “neutral” rating in a report on Monday, February 26th. Nine 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 company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $304.32.

Salesforce Price Performance

Salesforce stock opened at $307.68 on Friday. The firm has a market capitalization of $298.45 billion, a P/E ratio of 73.26, a PEG ratio of 2.37 and a beta of 1.28. Salesforce, Inc. has a 1 year low of $185.58 and a 1 year high of $318.71. The business has a 50-day moving average of $291.46 and a 200-day moving average of $249.58. 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 (NYSE:CRM) last posted its earnings results 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 company had revenue of $9.29 billion during the quarter, compared to analyst estimates of $9.22 billion. During the same period in the previous year, the company earned $1.01 EPS. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. On average, equities analysts anticipate that Salesforce, Inc. will post 7.45 EPS for the current year.

Salesforce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 11th. Investors of record on Thursday, March 14th will be given a $0.40 dividend. The ex-dividend date is Wednesday, March 13th. This represents a $1.60 annualized dividend and a dividend yield of 0.52%. Salesforce’s dividend payout ratio is presently 9.52%.

About Salesforce

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.