Moseley Investment Management Inc. Acquires 141 Shares of Salesforce, Inc. (NYSE:CRM)

Moseley Investment Management Inc. lifted its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 4.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,665 shares of the CRM provider’s stock after purchasing an additional 141 shares during the quarter. Moseley Investment Management Inc.’s holdings in Salesforce were worth $984,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Bernard Wealth Management Corp. purchased a new stake in shares of Salesforce during the 4th quarter valued at $25,000. Accredited Wealth Management LLC purchased a new stake in Salesforce during the fourth quarter valued at about $27,000. Arlington Trust Co LLC lifted its stake in Salesforce by 85.1% during the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after purchasing an additional 40 shares during the last quarter. Asset Planning Inc bought a new stake in Salesforce during the fourth quarter worth about $31,000. Finally, Collier Financial bought a new position in shares of Salesforce during the 4th quarter valued at about $32,000. 80.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CRM. BMO Capital Markets reduced their target price on shares of Salesforce from $367.00 to $350.00 and set an “outperform” rating on the stock in a report on Tuesday, May 27th. Macquarie reiterated a “neutral” rating and issued a $320.00 price objective on shares of Salesforce in a report on Thursday, March 20th. Cantor Fitzgerald initiated coverage on Salesforce in a report on Tuesday, June 3rd. They set an “overweight” rating and a $325.00 target price for the company. Stifel Nicolaus decreased their price target on Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Finally, Loop Capital dropped their price objective on Salesforce from $330.00 to $300.00 and set a “hold” rating for the company in a research note on Thursday, February 27th. Two equities research 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $346.34.

Insider Transactions at Salesforce

In other news, insider R David Schmaier sold 6,959 shares of the stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total value of $1,762,784.29. Following the sale, the insider now directly owns 36,090 shares in the company, valued at approximately $9,141,957.90. This represents a 16.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Miguel Milano sold 705 shares of the business’s stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $279.44, for a total value of $197,005.20. Following the transaction, the insider now owns 9,323 shares of the company’s stock, valued at approximately $2,605,219.12. The trade was a 7.03% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 40,332 shares of company stock worth $11,024,802. 3.20% of the stock is currently owned by company insiders.

Salesforce Stock Down 0.8%

Shares of CRM stock opened at $272.36 on Tuesday. The company’s fifty day simple moving average is $266.57 and its two-hundred day simple moving average is $301.70. Salesforce, Inc. has a 52 week low of $227.77 and a 52 week high of $369.00. The stock has a market cap of $260.38 billion, a P/E ratio of 44.80, a PEG ratio of 2.58 and a beta of 1.38. 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 (NYSE:CRM) last announced its quarterly 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 company had revenue of $9.83 billion during the quarter, compared to analyst estimates of $9.74 billion. During the same period in the prior year, the company earned $2.44 earnings per share. The firm’s revenue was up 7.6% on a year-over-year basis. Analysts predict that Salesforce, Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders 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 0.61%. Salesforce’s dividend payout ratio (DPR) 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.