Moseley Investment Management Inc. Raises Holdings in Salesforce, Inc. (NYSE:CRM)

Moseley Investment Management Inc. increased its position in shares of Salesforce, Inc. (NYSE:CRM) by 4.0% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 3,665 shares of the CRM provider’s stock after purchasing an additional 141 shares during the period. Moseley Investment Management Inc.’s holdings in Salesforce were worth $984,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in CRM. OMC Financial Services LTD increased its stake in Salesforce by 0.3% in the fourth quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock valued at $3,808,000 after acquiring an additional 31 shares during the period. Capital Advisors Ltd. LLC grew its stake in Salesforce by 4.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock worth $263,000 after buying an additional 31 shares during the last quarter. Prossimo Advisors LLC increased its holdings in shares of Salesforce by 1.0% during the fourth quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock worth $1,125,000 after buying an additional 32 shares in the last quarter. Mainstream Capital Management LLC increased its holdings in shares of Salesforce by 0.5% during the fourth quarter. Mainstream Capital Management LLC now owns 6,409 shares of the CRM provider’s stock worth $2,143,000 after buying an additional 33 shares in the last quarter. Finally, Warren Street Wealth Advisors LLC raised its stake in shares of Salesforce by 3.9% in the fourth quarter. Warren Street Wealth Advisors LLC now owns 896 shares of the CRM provider’s stock valued at $300,000 after acquiring an additional 34 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Stephens decreased their target price on Salesforce from $311.00 to $309.00 and set an “equal weight” rating on the stock in a report on Friday, May 30th. UBS Group reduced their price target on shares of Salesforce from $320.00 to $300.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 27th. Mizuho dropped their target price on shares of Salesforce from $425.00 to $380.00 and set an “outperform” rating for the company in a research note on Thursday, May 15th. Cantor Fitzgerald initiated coverage on shares of Salesforce in a research report on Tuesday, June 3rd. They set an “overweight” rating and a $325.00 target price on the stock. Finally, Northland Securities lowered their price target on shares of Salesforce from $423.00 to $396.00 and set an “outperform” rating for the company in a report on Thursday, May 29th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-seven have issued a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $346.34.

Salesforce Stock Performance

Shares of NYSE:CRM opened at $272.36 on Tuesday. The firm has a market cap of $260.38 billion, a PE ratio of 44.80, a PEG ratio of 2.58 and a beta of 1.38. The company’s 50 day moving average price is $266.57 and its two-hundred day moving average price is $301.70. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 12-month low of $227.77 and a 12-month high of $369.00.

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

Salesforce Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th will be issued a $0.416 dividend. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date of this dividend is Wednesday, June 18th. Salesforce’s payout ratio is presently 25.98%.

Insider Buying and Selling at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider R David Schmaier sold 6,959 shares of the company’s stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total transaction of $1,762,784.29. Following the sale, the insider now directly owns 36,090 shares of the company’s stock, valued at $9,141,957.90. The trade was a 16.17% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 40,332 shares of company stock valued at $11,024,802 in the last three months. Company insiders own 3.20% 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.