Crowley Wealth Management Inc. Has $27,000 Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Crowley Wealth Management Inc. trimmed its position in Salesforce, Inc. (NYSE:CRM) by 50.0% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 100 shares of the CRM provider’s stock after selling 100 shares during the period. Crowley Wealth Management Inc.’s holdings in Salesforce were worth $27,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. bought a new stake in shares of Salesforce during the 4th quarter valued at $25,000. Accredited Wealth Management LLC bought a new stake in shares of Salesforce during the 4th quarter valued at $27,000. Asset Planning Inc bought a new stake in shares of Salesforce during the 4th quarter worth $31,000. Halbert Hargrove Global Advisors LLC bought a new stake in shares of Salesforce during the 4th quarter worth $35,000. Finally, Wood Tarver Financial Group LLC bought a new stake in shares of Salesforce during the 4th quarter worth $35,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 1,909 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now owns 11,310 shares of the company’s stock, valued at $3,218,599.80. This represents a 14.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Parker Harris sold 3,273 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $284.58, for a total value of $931,430.34. Following the transaction, the insider now directly owns 125,146 shares of the company’s stock, valued at $35,614,048.68. The trade was a 2.55% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 40,332 shares of company stock worth $11,024,802. 3.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

CRM has been the subject of several recent analyst reports. Citigroup dropped their price objective on Salesforce from $320.00 to $295.00 and set a “neutral” rating for the company in a research report on Friday, May 30th. Guggenheim upgraded Salesforce from a “sell” rating to a “neutral” rating in a research report on Monday, April 21st. Morgan Stanley reiterated an “overweight” rating and issued a $404.00 target price (up from $393.00) on shares of Salesforce in a research report on Thursday, May 29th. Westpark Capital reiterated a “buy” rating and issued a $320.00 target price on shares of Salesforce in a research report on Wednesday, May 28th. Finally, Erste Group Bank downgraded 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, nine have issued a hold rating, twenty-seven have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $346.34.

Salesforce Price Performance

CRM opened at $266.56 on Friday. The stock has a 50-day moving average price of $267.80 and a 200-day moving average price of $300.72. Salesforce, Inc. has a 12-month low of $227.77 and a 12-month high of $369.00. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $254.83 billion, a P/E ratio of 43.84, a PEG ratio of 2.58 and a beta of 1.38.

Salesforce (NYSE:CRM) last posted its quarterly earnings data 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 return on equity of 12.34% and a net margin of 15.96%. The firm had revenue of $9.83 billion during the quarter, compared to analysts’ expectations of $9.74 billion. During the same period in the prior year, the business earned $2.44 EPS. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. Equities analysts predict 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 will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th will be issued a $0.416 dividend. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date of this dividend is Wednesday, June 18th. Salesforce’s payout ratio is currently 25.98%.

About Salesforce

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.