Cyr Financial Inc. Has $741,000 Position in Salesforce Inc. (NYSE:CRM)

Cyr Financial Inc. boosted its holdings in Salesforce Inc. (NYSE:CRM) by 3.8% in the first quarter, Holdings Channel reports. The institutional investor owned 2,762 shares of the CRM provider’s stock after buying an additional 100 shares during the period. Salesforce accounts for approximately 0.7% of Cyr Financial Inc.’s holdings, making the stock its 24th largest position. Cyr Financial Inc.’s holdings in Salesforce were worth $741,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Capital Advisors Ltd. LLC grew its holdings in shares of Salesforce by 4.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock valued at $263,000 after purchasing an additional 31 shares during the last quarter. Mainstream Capital Management LLC grew its stake 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 valued at $2,143,000 after buying an additional 33 shares during the last quarter. Delap Wealth Advisory LLC increased its holdings in shares of Salesforce by 2.7% in the fourth quarter. Delap Wealth Advisory LLC now owns 1,336 shares of the CRM provider’s stock worth $447,000 after buying an additional 35 shares during the period. Pine Valley Investments Ltd Liability Co increased its holdings in shares of Salesforce by 0.5% in the fourth quarter. Pine Valley Investments Ltd Liability Co now owns 7,082 shares of the CRM provider’s stock worth $2,369,000 after buying an additional 35 shares during the period. Finally, Wulff Hansen & CO. lifted its stake in shares of Salesforce by 3.5% in the 4th quarter. Wulff Hansen & CO. now owns 1,035 shares of the CRM provider’s stock valued at $346,000 after acquiring an additional 35 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Salesforce news, CAO Sundeep G. Reddy sold 1,909 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $284.58, for a total transaction of $543,263.22. Following the sale, the chief accounting officer now directly owns 11,310 shares in the company, valued at approximately $3,218,599.80. This trade represents a 14.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Miguel Milano sold 705 shares of the business’s stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $279.44, for a total value of $197,005.20. Following the completion of the transaction, the insider now owns 9,323 shares of the company’s stock, valued at $2,605,219.12. This represents a 7.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,111 shares of company stock worth $9,299,283 over the last 90 days. 3.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on CRM shares. Royal Bank Of Canada lowered Salesforce from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from $420.00 to $275.00 in a research report on Thursday, May 29th. Guggenheim upgraded shares of Salesforce from a “sell” rating to a “neutral” rating in a report on Monday, April 21st. Bank of America lowered their price target on shares of Salesforce from $440.00 to $400.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Piper Sandler increased their price target on shares of Salesforce from $315.00 to $335.00 and gave the company an “overweight” rating in a research report on Wednesday, May 28th. Finally, Erste Group Bank cut shares of Salesforce from a “buy” rating to a “hold” rating in a research report on Thursday, June 5th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-eight have issued a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $349.08.

Salesforce Stock Up 0.5%

Shares of NYSE:CRM opened at $260.79 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.14. The stock has a fifty day simple moving average of $268.51 and a two-hundred day simple moving average of $297.25. Salesforce Inc. has a 12-month low of $230.00 and a 12-month high of $369.00. The stock has a market capitalization of $249.31 billion, a price-to-earnings ratio of 40.81, a PEG ratio of 2.36 and a beta of 1.38.

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, beating the consensus estimate of $2.55 by $0.03. The firm had revenue of $9.83 billion during the quarter, compared to the consensus estimate of $9.74 billion. Salesforce had a return on equity of 12.94% and a net margin of 16.08%. The company’s revenue was up 7.6% on a year-over-year basis. During the same period last year, the company earned $2.44 earnings per share. On average, research analysts anticipate that Salesforce Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th will be paid a $0.416 dividend. The ex-dividend date is Wednesday, June 18th. This represents a $1.66 annualized dividend and a dividend yield of 0.64%. Salesforce’s dividend payout ratio is presently 25.98%.

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.