Salesforce, Inc. (NYSE:CRM) Shares Sold by Accel Wealth Management

Accel Wealth Management reduced its holdings in Salesforce, Inc. (NYSE:CRM) by 5.2% during the 1st quarter, Holdings Channel reports. The fund owned 2,013 shares of the CRM provider’s stock after selling 110 shares during the period. Accel Wealth Management’s holdings in Salesforce were worth $540,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. DA Davidson reissued an “underperform” rating and issued a $200.00 price target on shares of Salesforce in a report on Wednesday, May 28th. Stifel Nicolaus decreased their target price on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. The Goldman Sachs Group lifted their price objective on shares of Salesforce from $340.00 to $385.00 and gave the company a “buy” rating in a report on Thursday, May 29th. Robert W. Baird lowered their target price on shares of Salesforce from $430.00 to $400.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. Finally, Westpark Capital restated a “buy” rating and set a $320.00 target price on shares of Salesforce in a research report on Wednesday, May 28th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-eight have given a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $346.34.

Insider Activity

In related news, CAO Sundeep G. Reddy sold 1,909 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $284.58, for a total value of $543,263.22. Following the transaction, the chief accounting officer now directly owns 11,310 shares in the company, valued at approximately $3,218,599.80. This represents a 14.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Miguel Milano sold 705 shares of the stock in a transaction that occurred on 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 transaction, the insider now owns 9,323 shares of the company’s stock, 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 sold a total of 40,332 shares of company stock valued at $11,024,802 in the last 90 days. Company insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

Shares of Salesforce stock opened at $264.56 on Wednesday. The business’s 50 day moving average price is $266.65 and its 200 day moving average price is $303.58. The company has a market cap of $252.92 billion, a price-to-earnings ratio of 43.51, a PEG ratio of 2.58 and a beta of 1.38. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. Salesforce, Inc. has a one year low of $227.77 and a one year high of $369.00.

Salesforce (NYSE:CRM) last posted 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. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The business had revenue of $9.83 billion for the quarter, compared to analyst estimates of $9.74 billion. During the same quarter in the previous year, the firm earned $2.44 EPS. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. On average, research analysts predict that Salesforce, Inc. will post 7.46 EPS for the current year.

Salesforce Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 0.64%. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date was Thursday, April 10th. Salesforce’s payout ratio is presently 25.98%.

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.