First Nebraska Trust Co acquired a new stake in Salesforce Inc. (NYSE:CRM – Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 29,531 shares of the CRM provider’s stock, valued at approximately $5,513,000.
Several other large investors have also bought and sold shares of CRM. Commonwealth Retirement Investments LLC bought a new position in shares of Salesforce during the 4th quarter valued at about $25,000. Key Capital Management INC acquired a new position in shares of Salesforce in the 4th quarter worth approximately $26,000. Gilpin Wealth Management LLC bought a new stake in shares of Salesforce in the 4th quarter worth approximately $26,000. Legacy Bridge LLC acquired a new stake in Salesforce during the fourth quarter valued at approximately $27,000. Finally, Costello Asset Management INC boosted its holdings in Salesforce by 410.3% during the first quarter. Costello Asset Management INC now owns 148 shares of the CRM provider’s stock worth $28,000 after buying an additional 119 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.
Salesforce Price Performance
CRM opened at $184.34 on Friday. The stock has a fifty day moving average of $170.34 and a 200-day moving average of $185.01. The firm has a market capitalization of $150.98 billion, a P/E ratio of 21.34, a PEG ratio of 1.00 and a beta of 1.18. Salesforce Inc. has a 12-month low of $146.32 and a 12-month high of $269.11. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.15.
Salesforce Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Thursday, June 11th were paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Thursday, June 11th. Salesforce’s payout ratio is 20.37%.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on CRM shares. Needham & Company LLC reissued a “buy” rating on shares of Salesforce in a research note on Tuesday, June 16th. KeyCorp downgraded Salesforce from an “overweight” rating to a “sector weight” rating in a report on Wednesday, July 8th. Susquehanna began coverage on Salesforce in a research report on Wednesday, July 1st. They issued a “neutral” rating for the company. Citigroup raised Salesforce from a “hold” rating to a “buy” rating in a research note on Wednesday, July 1st. Finally, BMO Capital Markets cut their price objective on Salesforce from $225.00 to $215.00 and set an “outperform” rating on the stock in a report on Thursday, May 28th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, sixteen have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus price target of $249.51.
Read Our Latest Stock Analysis on CRM
Salesforce Company Profile
Salesforce, founded in 1999 and headquartered in San Francisco, is a global provider of cloud-based software focused on customer relationship management (CRM) and enterprise applications. The company popularized the software-as-a-service (SaaS) model for CRM and has built a broad portfolio of products designed to help organizations manage sales, service, marketing, commerce and analytics through a unified, cloud-first platform.
Core offerings include Sales Cloud for sales automation, Service Cloud for customer support, Marketing Cloud for digital marketing and engagement, and Commerce Cloud for e-commerce.
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