Salesforce, Inc. (NYSE:CRM) Stake Raised by Integrated Advisors Network LLC

Integrated Advisors Network LLC increased its holdings in Salesforce, Inc. (NYSE:CRM) by 24.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,311 shares of the CRM provider’s stock after acquiring an additional 2,800 shares during the period. Integrated Advisors Network LLC’s holdings in Salesforce were worth $3,841,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of CRM. Norges Bank acquired a new position in Salesforce in the 4th quarter worth about $3,599,867,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in Salesforce by 926.4% in 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 during the last quarter. GAMMA Investing LLC increased its position in Salesforce by 30,456.9% in 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 last quarter. Raymond James Financial Inc. acquired a new position in Salesforce in the 4th quarter worth about $1,173,564,000. Finally, Invesco Ltd. increased its position in Salesforce by 42.5% in the 4th quarter. Invesco Ltd. now owns 7,791,015 shares of the CRM provider’s stock worth $2,604,770,000 after purchasing an additional 2,325,156 shares during the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Price Performance

Salesforce stock opened at $268.19 on Wednesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The company 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 business has a 50 day simple moving average of $266.84 and a 200 day simple moving average of $301.47.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, May 28th. The CRM provider reported $2.58 EPS for the quarter, topping the consensus estimate of $2.55 by $0.03. The business 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 12.34% and a net margin of 15.96%. Salesforce’s revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the company earned $2.44 EPS. On average, sell-side analysts forecast that Salesforce, Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Cuts Dividend

The business also recently announced 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 is Wednesday, June 18th. This represents a $1.66 annualized dividend and a dividend yield of 0.62%. Salesforce’s dividend payout ratio (DPR) is presently 25.98%.

Analyst Upgrades and Downgrades

CRM has been the topic of several research reports. Redburn Atlantic initiated coverage on Salesforce in a research report on Wednesday, February 19th. They issued a “buy” rating on the stock. Macquarie reaffirmed a “neutral” rating and issued a $320.00 target price on shares of Salesforce in a research report on Thursday, March 20th. Bank of America dropped their target price on Salesforce from $440.00 to $400.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. DA Davidson reiterated an “underperform” rating and set a $200.00 price target on shares of Salesforce in a research note on Wednesday, May 28th. Finally, Loop Capital decreased their price target 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 analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-seven have issued a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $346.34.

Insider Buying and Selling

In related news, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $277.37, for a total value of $1,725,518.77. Following the completion of the sale, the chief financial officer now directly owns 46,750 shares in the company, valued at approximately $12,967,047.50. The trade was a 11.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Srinivas Tallapragada sold 6,697 shares of the business’s stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $295.00, for a total value of $1,975,615.00. Following the completion of the sale, the insider now owns 41,422 shares of the company’s stock, valued at approximately $12,219,490. This trade represents a 13.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 40,332 shares of company stock worth $11,024,802 in the last 90 days. 3.20% of the stock is owned by company 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.