Salesforce, Inc. (NYSE:CRM) Shares Acquired by Boston Common Asset Management LLC

Boston Common Asset Management LLC lifted its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 17.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 80,259 shares of the CRM provider’s stock after buying an additional 11,958 shares during the period. Boston Common Asset Management LLC’s holdings in Salesforce were worth $21,538,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CRM. Bernard Wealth Management Corp. bought a new stake in Salesforce during the fourth quarter worth approximately $25,000. Accredited Wealth Management LLC bought a new position in shares of Salesforce in the fourth quarter valued at $27,000. Arlington Trust Co LLC increased its holdings in shares of Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after buying an additional 40 shares in the last quarter. Compass Financial Services Inc bought a new position in shares of Salesforce in the fourth quarter valued at $30,000. Finally, Asset Planning Inc bought a new position in shares of Salesforce in the fourth quarter valued at $31,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Macquarie reaffirmed a “neutral” rating and issued a $320.00 price target on shares of Salesforce in a report on Thursday, March 20th. Bank of America dropped their price target on Salesforce from $440.00 to $400.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Westpark Capital reaffirmed a “buy” rating and issued a $320.00 price target on shares of Salesforce in a report on Wednesday. BMO Capital Markets dropped their price target on Salesforce from $367.00 to $350.00 and set an “outperform” rating on the stock in a report on Tuesday. Finally, Canaccord Genuity Group cut their target price on shares of Salesforce from $400.00 to $350.00 and set a “buy” rating on the stock in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have assigned a buy rating and five have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $348.59.

Insider Transactions at Salesforce

In related news, insider R David Schmaier sold 6,959 shares of the company’s stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total transaction of $1,762,784.29. Following the completion of the transaction, the insider now directly owns 36,090 shares in the company, valued at $9,141,957.90. This represents a 16.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $301.00, for a total transaction of $1,872,521.00. Following the transaction, the chief financial officer now owns 46,750 shares of the company’s stock, valued at approximately $14,071,750. This represents a 11.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 46,553 shares of company stock valued at $12,897,323. Company insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

NYSE CRM opened at $275.07 on Thursday. The firm has a 50-day moving average price of $268.16 and a two-hundred day moving average price of $305.79. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $264.45 billion, a P/E ratio of 45.24, a P/E/G ratio of 2.58 and a beta of 1.42.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share for the quarter, topping analysts’ consensus estimates of $2.55 by $0.03. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The company had revenue of $9.83 billion during the quarter, compared to the consensus estimate of $9.74 billion. During the same quarter in the prior year, the firm posted $2.44 EPS. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. Analysts anticipate that Salesforce, Inc. will post 7.46 earnings per share for the current year.

Salesforce Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date of this dividend was Thursday, April 10th. This is an increase from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s dividend payout ratio is 26.10%.

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.