Epiq Partners LLC Acquires 854 Shares of Salesforce, Inc. (NYSE:CRM)

Epiq Partners LLC lifted its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 87.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,833 shares of the CRM provider’s stock after purchasing an additional 854 shares during the period. Epiq Partners LLC’s holdings in Salesforce were worth $492,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. OMC Financial Services LTD boosted its holdings in shares of Salesforce by 0.3% during the 4th quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock worth $3,808,000 after buying an additional 31 shares in the last quarter. Capital Advisors Ltd. LLC boosted its stake in Salesforce by 4.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock worth $263,000 after acquiring an additional 31 shares in the last quarter. Prossimo Advisors LLC boosted its stake in Salesforce by 1.0% during the fourth quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock worth $1,125,000 after acquiring an additional 32 shares in the last quarter. Mainstream Capital Management LLC boosted its stake in Salesforce by 0.5% during the fourth quarter. Mainstream Capital Management LLC now owns 6,409 shares of the CRM provider’s stock worth $2,143,000 after acquiring an additional 33 shares in the last quarter. Finally, Warren Street Wealth Advisors LLC boosted its position in shares of Salesforce by 3.9% during the 4th quarter. Warren Street Wealth Advisors LLC now owns 896 shares of the CRM provider’s stock worth $300,000 after purchasing an additional 34 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on CRM shares. Bank of America cut their price objective on shares of Salesforce from $440.00 to $400.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Westpark Capital reiterated a “buy” rating and issued a $320.00 price target on shares of Salesforce in a report on Wednesday, May 28th. Piper Sandler increased their target price on Salesforce from $315.00 to $335.00 and gave the stock an “overweight” rating in a report on Wednesday, May 28th. Robert W. Baird cut their target price on Salesforce from $430.00 to $400.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. Finally, Redburn Atlantic assumed coverage on Salesforce in a report on Wednesday, February 19th. They issued a “buy” rating on the stock. 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $346.34.

Salesforce Stock Performance

Salesforce stock opened at $274.48 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 1-year low of $227.77 and a 1-year high of $369.00. The firm has a market capitalization of $262.40 billion, a PE ratio of 45.14, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. The firm’s 50 day simple moving average is $266.57 and its 200 day simple moving average is $302.58.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share for the quarter, topping analysts’ consensus estimates of $2.55 by $0.03. The business had revenue of $9.83 billion for the quarter, compared to analyst estimates of $9.74 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.44 EPS. As a group, analysts expect that Salesforce, Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th will be paid a dividend of $0.416 per share. The ex-dividend date is Wednesday, June 18th. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.61%. Salesforce’s dividend payout ratio (DPR) is currently 25.98%.

Insider Buying and Selling

In other news, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $277.37, for a total value of $1,725,518.77. Following the transaction, the chief financial officer now owns 46,750 shares in the company, valued at approximately $12,967,047.50. This trade represents a 11.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Miguel Milano sold 705 shares of the firm’s stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $279.44, for a total value of $197,005.20. Following the completion of the sale, the insider now directly owns 9,323 shares in the company, valued at $2,605,219.12. The trade was a 7.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 40,332 shares of company stock worth $11,024,802 in the last ninety days. 3.20% of the stock is owned by insiders.

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.