Cozad Asset Management Inc. Sells 88 Shares of Salesforce Inc. (NYSE:CRM)

Cozad Asset Management Inc. cut its holdings in Salesforce Inc. (NYSE:CRM) by 0.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,329 shares of the CRM provider’s stock after selling 88 shares during the quarter. Cozad Asset Management Inc.’s holdings in Salesforce were worth $3,845,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Bernard Wealth Management Corp. bought a new stake in shares of Salesforce in the 4th quarter worth approximately $25,000. Accredited Wealth Management LLC bought a new stake in shares of Salesforce in the 4th quarter worth approximately $27,000. Wood Tarver Financial Group LLC bought a new stake in shares of Salesforce in the 4th quarter worth approximately $35,000. Capital A Wealth Management LLC grew its position in shares of Salesforce by 450.0% in the 1st quarter. Capital A Wealth Management LLC now owns 110 shares of the CRM provider’s stock worth $30,000 after buying an additional 90 shares during the last quarter. Finally, CBIZ Investment Advisory Services LLC grew its position in shares of Salesforce by 314.8% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 112 shares of the CRM provider’s stock worth $30,000 after buying an additional 85 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. The Goldman Sachs Group lifted their price target on Salesforce from $340.00 to $385.00 and gave the company a “buy” rating in a research report on Thursday, May 29th. DA Davidson restated an “underperform” rating and set a $200.00 price target on shares of Salesforce in a research report on Wednesday, May 28th. Westpark Capital restated a “buy” rating and set a $320.00 price target on shares of Salesforce in a research report on Wednesday, May 28th. Wells Fargo & Company lifted their price target on Salesforce from $255.00 to $275.00 and gave the company an “equal weight” rating in a research report on Thursday, May 29th. Finally, JMP Securities restated a “market outperform” rating and set a $430.00 price target on shares of Salesforce in a research report on Friday, July 11th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-seven have given a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $348.16.

Salesforce Stock Up 0.4%

CRM stock opened at $270.20 on Tuesday. Salesforce Inc. has a 1-year low of $230.00 and a 1-year high of $369.00. The business has a fifty day moving average price of $267.73 and a 200-day moving average price of $283.35. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a market capitalization of $258.31 billion, a P/E ratio of 42.28, a P/E/G ratio of 2.44 and a beta of 1.36.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share for the quarter, topping the consensus estimate of $2.55 by $0.03. The firm had revenue of $9.83 billion during the quarter, compared to analysts’ expectations 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 quarter in the previous year, the business earned $2.44 earnings per share. Equities analysts forecast that Salesforce Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Wednesday, June 18th were given a dividend of $0.416 per share. This represents a $1.66 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend was Wednesday, June 18th. Salesforce’s dividend payout ratio (DPR) is presently 25.98%.

Insider Buying and Selling

In related news, CEO Marc Benioff sold 2,250 shares of the company’s stock in a transaction on Friday, July 25th. The stock was sold at an average price of $269.38, for a total transaction of $606,105.00. Following the completion of the sale, the chief executive officer owned 11,911,571 shares in the company, valued at approximately $3,208,738,995.98. This represents a 0.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 35,729 shares of company stock worth $9,697,901 in the last three months. 3.20% of the stock is currently owned by corporate insiders.

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.