Independent Solutions Wealth Management LLC Has $512,000 Stock Position in Salesforce Inc. (NYSE:CRM)

Independent Solutions Wealth Management LLC lessened its holdings in shares of Salesforce Inc. (NYSE:CRM) by 6.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,908 shares of the CRM provider’s stock after selling 142 shares during the period. Independent Solutions Wealth Management LLC’s holdings in Salesforce were worth $512,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of CRM. Bernard Wealth Management Corp. bought a new position in shares of Salesforce during the fourth quarter worth about $25,000. Accredited Wealth Management LLC acquired a new stake in Salesforce during the 4th quarter valued at approximately $27,000. Halbert Hargrove Global Advisors LLC acquired a new stake in Salesforce during the 4th quarter valued at approximately $35,000. Wood Tarver Financial Group LLC bought a new position in Salesforce during the 4th quarter worth approximately $35,000. Finally, VSM Wealth Advisory LLC acquired a new position in shares of Salesforce in the 4th quarter worth approximately $45,000. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Performance

NYSE CRM opened at $271.43 on Wednesday. The company’s 50 day simple moving average is $269.02 and its two-hundred day simple moving average is $295.94. The stock has a market capitalization of $259.49 billion, a PE ratio of 42.48, a P/E/G ratio of 2.39 and a beta of 1.38. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.07 and a quick ratio of 1.07. Salesforce Inc. has a 1 year low of $230.00 and a 1 year high of $369.00.

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 analysts’ expectations of $9.74 billion. Salesforce had a return on equity of 12.94% and a net margin of 16.08%. The firm’s revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the business earned $2.44 earnings per share. Analysts predict 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. Investors of record on Wednesday, June 18th will be given a $0.416 dividend. The ex-dividend date is Wednesday, June 18th. This represents a $1.66 dividend on an annualized basis and a yield of 0.61%. Salesforce’s payout ratio is 25.98%.

Insider Buying and Selling at Salesforce

In related news, insider Srinivas Tallapragada sold 6,697 shares of the firm’s stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $295.00, for a total transaction of $1,975,615.00. Following the transaction, the insider now directly owns 41,422 shares in the company, valued at $12,219,490. This trade represents a 13.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Oscar Munoz acquired 3,882 shares of the stock in a transaction on Thursday, April 3rd. The stock was bought at an average price of $257.28 per share, with a total value of $998,760.96. Following the transaction, the director now directly owns 11,843 shares of the company’s stock, valued at approximately $3,046,967.04. The trade was a 48.76% increase in their position. The disclosure for this purchase can be found here. Insiders have sold 26,284 shares of company stock worth $6,996,762 over the last ninety days. Insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Stephens cut their price target on shares of Salesforce from $311.00 to $309.00 and set an “equal weight” rating on the stock in a research report on Friday, May 30th. Needham & Company LLC restated a “buy” rating and set a $400.00 target price on shares of Salesforce in a research report on Wednesday, May 28th. Oppenheimer reaffirmed an “outperform” rating and set a $370.00 target price on shares of Salesforce in a research note on Tuesday, June 10th. Robert W. Baird lowered their target price on Salesforce from $430.00 to $400.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. Finally, Guggenheim upgraded Salesforce from a “sell” rating to a “neutral” rating in a report on Monday, April 21st. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-eight have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $349.08.

Salesforce Company 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.