Bartlett & CO. Wealth Management LLC Has $67.40 Million Stake in Salesforce Inc. (NYSE:CRM)

Bartlett & CO. Wealth Management LLC grew its holdings in shares of Salesforce Inc. (NYSE:CRM) by 0.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 251,151 shares of the CRM provider’s stock after buying an additional 306 shares during the quarter. Bartlett & CO. Wealth Management LLC’s holdings in Salesforce were worth $67,399,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CRM. Bernard Wealth Management Corp. bought a new position in Salesforce in the fourth quarter valued at approximately $25,000. Accredited Wealth Management LLC bought a new position in shares of Salesforce in the fourth quarter valued at $27,000. Halbert Hargrove Global Advisors LLC acquired a new position in Salesforce during the fourth quarter worth $35,000. Wood Tarver Financial Group LLC bought a new stake in Salesforce during the fourth quarter worth $35,000. Finally, VSM Wealth Advisory LLC bought a new stake in Salesforce during the fourth quarter worth $45,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Salesforce

In other Salesforce news, CEO Brian Millham sold 979 shares of the company’s stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $253.66, for a total value of $248,333.14. Following the completion of the transaction, the chief executive officer now directly owns 6,487 shares in the company, valued at approximately $1,645,492.42. This represents a 13.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Oscar Munoz purchased 3,882 shares of the business’s stock in a transaction dated Thursday, April 3rd. The shares were acquired at an average price of $257.28 per share, for a total transaction of $998,760.96. Following the acquisition, the director now owns 11,843 shares of the company’s stock, valued at $3,046,967.04. This trade represents a 48.76% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 26,284 shares of company stock worth $6,996,762. Corporate insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

CRM has been the topic of several recent analyst reports. Oppenheimer restated an “outperform” rating and set a $370.00 price objective on shares of Salesforce in a research note on Tuesday, June 10th. Macquarie reiterated a “neutral” rating and set a $320.00 price target on shares of Salesforce in a report on Thursday, March 20th. Citigroup dropped their price objective on Salesforce from $320.00 to $295.00 and set a “neutral” rating on the stock in a research note on Friday, May 30th. Northland Securities reduced their target price on Salesforce from $423.00 to $396.00 and set an “outperform” rating for the company in a research note on Thursday, May 29th. Finally, UBS Group set a $404.00 target price on Salesforce and gave the stock an “overweight” rating in a report on Wednesday, June 18th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-eight have assigned a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $349.08.

Salesforce Stock Performance

NYSE:CRM opened at $270.50 on Friday. Salesforce Inc. has a twelve month low of $230.00 and a twelve month high of $369.00. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.14. The stock’s 50-day simple moving average is $269.86 and its 200 day simple moving average is $295.19. The firm has a market capitalization of $258.60 billion, a PE ratio of 42.33, a price-to-earnings-growth ratio of 2.43 and a beta of 1.38.

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, beating analysts’ consensus estimates of $2.55 by $0.03. The company had revenue of $9.83 billion for the quarter, compared to the consensus estimate of $9.74 billion. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period last year, the company posted $2.44 EPS. On average, analysts anticipate 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. Shareholders of record on Wednesday, June 18th will be paid 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 dividend yield of 0.62%. Salesforce’s payout ratio is presently 25.98%.

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.