232 Shares in Salesforce, Inc. (NYSE:CRM) Acquired by MinichMacGregor Wealth Management LLC

MinichMacGregor Wealth Management LLC bought a new position in shares of Salesforce, Inc. (NYSE:CRM – Get Rating) during the fourth quarter, Holdings Channel.com reports. The fund bought 232 shares of the CRM provider’s stock, valued at approximately $31,000.

A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of Salesforce by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 80,449,523 shares of the CRM provider’s stock worth $11,571,860,000 after acquiring an additional 1,103,556 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Salesforce by 40.6% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 46,707,038 shares of the CRM provider’s stock worth $7,708,529,000 after purchasing an additional 13,483,854 shares in the last quarter. State Street Corp increased its position in shares of Salesforce by 1.3% in the third quarter. State Street Corp now owns 44,825,733 shares of the CRM provider’s stock worth $6,447,733,000 after purchasing an additional 585,881 shares during the period. Jennison Associates LLC raised its stake in Salesforce by 1.6% in the third quarter. Jennison Associates LLC now owns 13,688,506 shares of the CRM provider’s stock valued at $1,968,955,000 after purchasing an additional 210,376 shares in the last quarter. Finally, Polen Capital Management LLC lifted its position in Salesforce by 12.5% during the third quarter. Polen Capital Management LLC now owns 11,057,687 shares of the CRM provider’s stock worth $1,590,538,000 after purchasing an additional 1,228,763 shares during the period. 75.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Wedbush boosted their target price on shares of Salesforce from $200.00 to $220.00 and gave the company an “outperform” rating in a research report on Thursday, March 2nd. Cowen upped their price target on shares of Salesforce from $160.00 to $170.00 and gave the stock an “outperform” rating in a report on Tuesday, February 21st. Barclays upped their price target on shares of Salesforce from $195.00 to $225.00 and gave the stock an “overweight” rating in a report on Thursday, March 2nd. Robert W. Baird upped their price target on shares of Salesforce from $150.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, March 2nd. Finally, Oppenheimer upped their price target on shares of Salesforce from $185.00 to $225.00 and gave the stock an “outperform” rating in a report on Thursday, March 2nd. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $211.24.

Insider Transactions at Salesforce

In other Salesforce news, insider Parker Harris sold 7,500 shares of the firm’s stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $188.18, for a total value of $1,411,350.00. Following the completion of the sale, the insider now directly owns 96,795 shares in the company, valued at $18,214,883.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Salesforce news, CAO Sundeep G. Reddy sold 186 shares of the firm’s stock in a transaction on Monday, January 23rd. The shares were sold at an average price of $155.59, for a total value of $28,939.74. Following the completion of the sale, the chief accounting officer now directly owns 1,273 shares in the company, valued at $198,066.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Parker Harris sold 7,500 shares of the firm’s stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $188.18, for a total transaction of $1,411,350.00. Following the completion of the sale, the insider now owns 96,795 shares of the company’s stock, valued at $18,214,883.10. The disclosure for this sale can be found here. Insiders sold a total of 39,268 shares of company stock worth $6,641,547 over the last three months. 3.60% of the stock is owned by company insiders.

Salesforce Trading Down 1.3 %

CRM opened at $184.85 on Friday. Salesforce, Inc. has a twelve month low of $126.34 and a twelve month high of $222.15. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.16. The company has a fifty day moving average of $166.43 and a 200-day moving average of $153.85. The stock has a market cap of $184.85 billion, a PE ratio of 880.28, a price-to-earnings-growth ratio of 2.24 and a beta of 1.21.

Salesforce (NYSE:CRM – Get Rating) last posted its quarterly earnings data on Wednesday, March 1st. The CRM provider reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.32. Salesforce had a net margin of 0.66% and a return on equity of 4.48%. The company had revenue of $8.38 billion during the quarter, compared to analysts’ expectations of $7.99 billion. During the same period in the prior year, the company posted $0.24 earnings per share. Salesforce’s revenue for the quarter was up 14.4% compared to the same quarter last year. On average, sell-side analysts predict that Salesforce, Inc. will post 4.88 EPS for the current year.

Salesforce declared that its Board of Directors has initiated a share repurchase plan on Wednesday, March 1st that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the CRM provider to repurchase up to 10.9% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Salesforce Profile

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Salesforce, Inc engages in the design and development of cloud-based enterprise software for customer relationship management. Its solutions include sales force automation, customer service and support, marketing automation, digital commerce, community management, collaboration, industry-specific solutions, and salesforce platform.