PKO Investment Management Joint Stock Co Invests $4.03 Million in Salesforce, Inc. (NYSE:CRM)

PKO Investment Management Joint Stock Co purchased a new stake in Salesforce, Inc. (NYSE:CRM) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 15,000 shares of the CRM provider’s stock, valued at approximately $4,025,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Bernard Wealth Management Corp. purchased a new position in shares of Salesforce during the 4th quarter worth approximately $25,000. Accredited Wealth Management LLC acquired a new position in Salesforce during the fourth quarter worth $27,000. Halbert Hargrove Global Advisors LLC purchased a new position in Salesforce in the fourth quarter worth $35,000. Wood Tarver Financial Group LLC acquired a new stake in Salesforce in the fourth quarter valued at $35,000. Finally, VSM Wealth Advisory LLC acquired a new stake in Salesforce in the fourth quarter valued at $45,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Stock Performance

Shares of NYSE:CRM opened at $263.63 on Tuesday. The business has a 50-day moving average of $268.49 and a two-hundred day moving average of $299.25. The firm has a market capitalization of $252.03 billion, a PE ratio of 43.36, a P/E/G ratio of 2.58 and a beta of 1.38. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a 12 month low of $227.77 and a 12 month high of $369.00.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share (EPS) 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 firm 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 company earned $2.44 EPS. The company’s revenue was up 7.6% on a year-over-year basis. As a group, research analysts forecast that Salesforce, Inc. will post 7.46 earnings per share for the current 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 given a dividend of $0.416 per share. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $1.66 dividend on an annualized basis and a yield of 0.63%. Salesforce’s dividend payout ratio (DPR) is 25.98%.

Insider Activity at Salesforce

In other news, CEO Brian Millham sold 3,937 shares of Salesforce stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $284.58, for a total transaction of $1,120,391.46. Following the sale, the chief executive officer now owns 5,518 shares in the company, valued at $1,570,312.44. This trade represents a 41.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Parker Harris sold 3,273 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $284.58, for a total value of $931,430.34. Following the completion of the transaction, the insider now owns 125,146 shares in the company, valued at approximately $35,614,048.68. This trade represents a 2.55% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 34,111 shares of company stock worth $9,299,283. Corporate insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

CRM has been the subject of a number of research analyst reports. Robert W. Baird cut their price target on shares of Salesforce from $430.00 to $400.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. Wells Fargo & Company upped their target price on shares of Salesforce from $255.00 to $275.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 29th. Loop Capital reduced their price target on shares of Salesforce from $330.00 to $300.00 and set a “hold” rating for the company in a research report on Thursday, February 27th. Mizuho decreased their price target on Salesforce from $425.00 to $380.00 and set an “outperform” rating on the stock in a research note on Thursday, May 15th. Finally, Stephens dropped their price objective on Salesforce from $311.00 to $309.00 and set an “equal weight” rating for the company in a research note on Friday, May 30th. 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 stock has an average rating of “Moderate Buy” and an average 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.