Salesforce, Inc. (NYSE:CRM) Shares Acquired by Investment Partners Asset Management Inc.

Investment Partners Asset Management Inc. increased its stake in shares of Salesforce, Inc. (NYSE:CRM) by 1.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,489 shares of the CRM provider’s stock after purchasing an additional 45 shares during the quarter. Investment Partners Asset Management Inc.’s holdings in Salesforce were worth $936,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CRM. Norges Bank purchased a new stake in shares of Salesforce in the fourth quarter valued at approximately $3,599,867,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in shares of Salesforce by 926.4% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,256,211 shares of the CRM provider’s stock worth $1,422,979,000 after purchasing an additional 3,841,521 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Salesforce by 30,456.9% during the 1st quarter. GAMMA Investing LLC now owns 3,801,588 shares of the CRM provider’s stock worth $1,020,194,000 after purchasing an additional 3,789,147 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Salesforce in the 4th quarter valued at about $1,173,564,000. Finally, Invesco Ltd. lifted its stake in shares of Salesforce by 42.5% in the fourth quarter. Invesco Ltd. now owns 7,791,015 shares of the CRM provider’s stock valued at $2,604,770,000 after purchasing an additional 2,325,156 shares during the period. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Stock Performance

Salesforce stock opened at $268.19 on Wednesday. The firm has a market capitalization of $256.39 billion, a PE ratio of 44.11, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. Salesforce, Inc. has a one year low of $227.77 and a one year high of $369.00. The stock’s 50 day moving average price is $266.84 and its 200 day moving average price is $301.47. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

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

Salesforce Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 18th will be paid a $0.416 dividend. This represents a $1.66 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend is Wednesday, June 18th. Salesforce’s dividend payout ratio (DPR) is 25.98%.

Insider Activity at Salesforce

In other Salesforce news, insider Srinivas Tallapragada sold 6,697 shares of the stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $295.00, for a total transaction of $1,975,615.00. Following the sale, the insider now directly owns 41,422 shares of the company’s stock, valued at approximately $12,219,490. This represents a 13.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $277.37, for a total transaction of $1,725,518.77. Following the completion of the transaction, the chief financial officer now directly owns 46,750 shares of the company’s stock, valued at $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 90 days, insiders sold 40,332 shares of company stock valued at $11,024,802. Insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. DA Davidson reaffirmed an “underperform” rating and issued a $200.00 target price on shares of Salesforce in a report on Wednesday, May 28th. Barclays dropped their price objective on Salesforce from $425.00 to $347.00 and set an “overweight” rating for the company in a research note on Thursday, May 29th. Cantor Fitzgerald assumed coverage on Salesforce in a report on Tuesday, June 3rd. They issued an “overweight” rating and a $325.00 target price on the stock. Guggenheim upgraded Salesforce from a “sell” rating to a “neutral” rating in a research report on Monday, April 21st. Finally, Canaccord Genuity Group decreased their price objective on shares of Salesforce from $400.00 to $350.00 and set a “buy” rating on the stock in a research report on Wednesday, May 28th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-seven have assigned a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $346.34.

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.