Salesforce, Inc. (NYSE:CRM) Shares Sold by Meyer Handelman Co.

Meyer Handelman Co. reduced its holdings in Salesforce, Inc. (NYSE:CRM) by 0.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,690 shares of the CRM provider’s stock after selling 146 shares during the quarter. Meyer Handelman Co.’s holdings in Salesforce were worth $8,504,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in CRM. Tallon Kerry Patrick acquired a new stake in Salesforce in the 4th quarter valued at approximately $236,000. Brighton Jones LLC increased its position in Salesforce by 13.7% in the 4th quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider’s stock valued at $8,582,000 after acquiring an additional 3,102 shares during the period. Union Bancaire Privee UBP SA acquired a new stake in Salesforce in the 4th quarter valued at approximately $104,173,000. Revolve Wealth Partners LLC boosted its stake in Salesforce by 12.6% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,827 shares of the CRM provider’s stock valued at $611,000 after purchasing an additional 205 shares in the last quarter. Finally, Gries Financial LLC boosted its stake in Salesforce by 15.5% during the 4th quarter. Gries Financial LLC now owns 1,391 shares of the CRM provider’s stock valued at $465,000 after purchasing an additional 187 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Salesforce news, CAO Sundeep G. Reddy sold 500 shares of the firm’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $275.00, for a total transaction of $137,500.00. Following the transaction, the chief accounting officer now directly owns 11,711 shares in the company, valued at $3,220,525. This trade represents a 4.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $277.37, for a total value of $1,725,518.77. Following the transaction, the chief financial officer now owns 46,750 shares in the company, valued at approximately $12,967,047.50. This trade represents a 11.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,553 shares of company stock worth $12,897,323. Corporate insiders own 3.20% of the company’s stock.

Salesforce Price Performance

Shares of NYSE:CRM opened at $265.03 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 1 year low of $216.06 and a 1 year high of $369.00. The business has a fifty day simple moving average of $267.31 and a 200 day simple moving average of $304.75. The firm has a market cap of $254.80 billion, a price-to-earnings ratio of 43.59, a P/E/G ratio of 2.58 and a beta of 1.42.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.03. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The business had revenue of $9.83 billion during the quarter, compared to analyst estimates of $9.74 billion. During the same period last year, the company earned $2.44 earnings per share. Salesforce’s quarterly revenue was up 7.6% compared to the same quarter last year. As a group, sell-side analysts predict that Salesforce, Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 0.63%. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, April 10th. Salesforce’s dividend payout ratio (DPR) is currently 25.98%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Loop Capital decreased their price target on Salesforce from $330.00 to $300.00 and set a “hold” rating for the company in a research note on Thursday, February 27th. Redburn Atlantic assumed coverage on Salesforce in a research note on Wednesday, February 19th. They set a “buy” rating for the company. Scotiabank decreased their price target on Salesforce from $400.00 to $345.00 and set a “sector outperform” rating for the company in a research note on Monday, March 17th. Stifel Nicolaus decreased their price target on Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Finally, BMO Capital Markets decreased their price target on Salesforce from $367.00 to $350.00 and set an “outperform” rating for the company in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-eight have given a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $343.32.

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.