Fiduciary Financial Group LLC Has $1.10 Million Position in Salesforce, Inc. (NYSE:CRM)

Fiduciary Financial Group LLC lowered its position in Salesforce, Inc. (NYSE:CRM) by 15.7% during the first quarter, Holdings Channel reports. The firm owned 4,315 shares of the CRM provider’s stock after selling 801 shares during the period. Fiduciary Financial Group LLC’s holdings in Salesforce were worth $1,101,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Tallon Kerry Patrick bought a new stake in Salesforce during the 4th quarter valued at $236,000. Brighton Jones LLC lifted its holdings in Salesforce by 13.7% during the fourth quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider’s stock worth $8,582,000 after acquiring an additional 3,102 shares during the period. Union Bancaire Privee UBP SA bought a new stake in Salesforce during the fourth quarter worth $104,173,000. Revolve Wealth Partners LLC lifted its holdings in Salesforce by 12.6% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,827 shares of the CRM provider’s stock worth $611,000 after acquiring an additional 205 shares during the period. Finally, Empowered Funds LLC raised its stake in shares of Salesforce by 2.4% during the 4th quarter. Empowered Funds LLC now owns 27,374 shares of the CRM provider’s stock worth $9,152,000 after purchasing an additional 649 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Price Performance

NYSE:CRM opened at $272.36 on Tuesday. The stock has a market cap of $260.38 billion, a P/E ratio of 44.80, a PEG ratio of 2.58 and a beta of 1.38. The company has a fifty day moving average price of $266.57 and a 200 day moving average price of $301.70. Salesforce, Inc. has a one year low of $227.77 and a one year high of $369.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

Salesforce (NYSE:CRM) last issued its quarterly 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 company had revenue of $9.83 billion during the quarter, compared to analysts’ expectations of $9.74 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. Salesforce’s revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.44 EPS. Analysts anticipate that Salesforce, Inc. will post 7.46 earnings per share for the current year.

Salesforce Cuts Dividend

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

Insider Transactions at Salesforce

In other news, CAO Sundeep G. Reddy sold 500 shares of the firm’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $275.00, for a total transaction of $137,500.00. Following the completion of the sale, the chief accounting officer now owns 11,711 shares in the company, valued at approximately $3,220,525. This trade represents a 4.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Srinivas Tallapragada sold 6,697 shares of the stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $295.00, for a total value of $1,975,615.00. Following the transaction, the insider now owns 41,422 shares in the company, valued at approximately $12,219,490. This trade represents a 13.92% decrease in their position. 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 90 days. Corporate insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

CRM has been the topic of a number of research reports. Oppenheimer reaffirmed an “outperform” rating and issued a $370.00 price target (down previously from $380.00) on shares of Salesforce in a report on Thursday, May 29th. Erste Group Bank cut Salesforce from a “buy” rating to a “hold” rating in a research note on Thursday, June 5th. Cantor Fitzgerald initiated coverage on shares of Salesforce in a report on Tuesday, June 3rd. They set an “overweight” rating and a $325.00 target price on the stock. Sanford C. Bernstein upped their price target on Salesforce from $243.00 to $255.00 and gave the company an “underperform” rating in a research report on Thursday, May 29th. Finally, Wells Fargo & Company upped their target price on shares of Salesforce from $255.00 to $275.00 and gave the stock an “equal weight” rating in a report on Thursday, May 29th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-seven have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and a consensus target price of $346.34.

Salesforce 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.