Israel Discount Bank of New York Lowers Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Israel Discount Bank of New York lowered its stake in shares of Salesforce, Inc. (NYSE:CRM) by 25.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,422 shares of the CRM provider’s stock after selling 810 shares during the quarter. Israel Discount Bank of New York’s holdings in Salesforce were worth $637,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. U.S. Capital Wealth Advisors LLC boosted its holdings in Salesforce by 16.0% in the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 8,426 shares of the CRM provider’s stock valued at $1,709,000 after purchasing an additional 1,160 shares in the last quarter. AMI Asset Management Corp boosted its holdings in Salesforce by 0.3% in the 3rd quarter. AMI Asset Management Corp now owns 238,861 shares of the CRM provider’s stock valued at $48,436,000 after purchasing an additional 644 shares in the last quarter. PDS Planning Inc boosted its holdings in Salesforce by 2.2% in the 3rd quarter. PDS Planning Inc now owns 4,147 shares of the CRM provider’s stock valued at $841,000 after purchasing an additional 91 shares in the last quarter. ST Germain D J Co. Inc. boosted its holdings in Salesforce by 4.2% in the 3rd quarter. ST Germain D J Co. Inc. now owns 22,110 shares of the CRM provider’s stock valued at $4,483,000 after purchasing an additional 900 shares in the last quarter. Finally, Cavalier Investments LLC boosted its holdings in Salesforce by 3.7% in the 3rd quarter. Cavalier Investments LLC now owns 13,797 shares of the CRM provider’s stock valued at $2,798,000 after purchasing an additional 489 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Stock Performance

CRM traded up $0.47 on Monday, hitting $274.76. 2,276,148 shares of the company’s stock were exchanged, compared to its average volume of 5,619,632. Salesforce, Inc. has a twelve month low of $190.76 and a twelve month high of $318.71. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The firm has a market cap of $266.52 billion, a PE ratio of 65.27, a P/E/G ratio of 2.11 and a beta of 1.28. The stock has a fifty day moving average of $295.97 and a two-hundred day moving average of $264.71.

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

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were given 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 dividend payout ratio (DPR) is 9.52%.

Analyst Ratings Changes

CRM has been the topic of a number of analyst reports. TheStreet raised Salesforce from a “c+” rating to a “b-” rating in a report on Friday, January 19th. Wolfe Research reiterated an “outperform” rating and set a $365.00 price target on shares of Salesforce in a research report on Tuesday, April 16th. KeyCorp initiated coverage on shares of Salesforce in a research report on Thursday, March 21st. They set a “sector weight” rating for the company. Wells Fargo & Company lifted their price target on shares of Salesforce from $280.00 to $290.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 21st. Finally, Citigroup lifted their price target on shares of Salesforce from $265.00 to $325.00 and gave the company a “neutral” rating in a research 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 assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $310.61.

Insiders Place Their Bets

In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $315.54, for a total value of $4,733,100.00. Following the completion of the transaction, the chief executive officer now owns 13,311,166 shares in the company, valued at approximately $4,200,205,319.64. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $315.54, for a total value of $4,733,100.00. Following the completion of the transaction, the chief executive officer now directly owns 13,311,166 shares in the company, valued at $4,200,205,319.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Sundeep G. Reddy sold 2,425 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total transaction of $662,388.75. Following the completion of the transaction, the chief accounting officer now owns 5,856 shares of the company’s stock, valued at $1,599,566.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 595,793 shares of company stock worth $175,070,968. Insiders own 3.70% of the company’s stock.

Salesforce Company 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.