CMH Wealth Management LLC Buys 16,003 Shares of Salesforce, Inc. (NYSE:CRM)

CMH Wealth Management LLC grew its stake in Salesforce, Inc. (NYSE:CRMGet Rating) by 69.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 39,158 shares of the CRM provider’s stock after acquiring an additional 16,003 shares during the quarter. Salesforce accounts for 2.3% of CMH Wealth Management LLC’s portfolio, making the stock its 11th biggest holding. CMH Wealth Management LLC’s holdings in Salesforce were worth $6,463,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. MCIA Inc lifted its holdings in shares of Salesforce by 0.5% during the first quarter. MCIA Inc now owns 10,681 shares of the CRM provider’s stock valued at $2,088,000 after purchasing an additional 52 shares in the last quarter. First National Bank Sioux Falls lifted its holdings in shares of Salesforce by 4.0% during the first quarter. First National Bank Sioux Falls now owns 1,366 shares of the CRM provider’s stock valued at $290,000 after purchasing an additional 53 shares in the last quarter. AdvisorNet Financial Inc lifted its holdings in shares of Salesforce by 1.7% during the first quarter. AdvisorNet Financial Inc now owns 3,262 shares of the CRM provider’s stock valued at $693,000 after purchasing an additional 53 shares in the last quarter. Kessler Investment Group LLC lifted its holdings in shares of Salesforce by 10.8% during the fourth quarter. Kessler Investment Group LLC now owns 554 shares of the CRM provider’s stock valued at $141,000 after purchasing an additional 54 shares in the last quarter. Finally, Vectors Research Management LLC lifted its holdings in shares of Salesforce by 128.9% during the fourth quarter. Vectors Research Management LLC now owns 103 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 58 shares in the last quarter. 77.02% of the stock is owned by institutional investors.

Salesforce Price Performance

NYSE:CRM traded down $4.43 during trading hours on Friday, hitting $145.72. 453,565 shares of the stock were exchanged, compared to its average volume of 7,754,920. Salesforce, Inc. has a 52-week low of $147.51 and a 52-week high of $311.75. The firm’s fifty day moving average price is $171.85 and its 200 day moving average price is $178.69. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.16. The company has a market cap of $145.72 billion, a P/E ratio of 270.80, a P/E/G ratio of 4.01 and a beta of 1.12.

Salesforce (NYSE:CRMGet Rating) last posted its quarterly earnings results on Wednesday, August 24th. The CRM provider reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.15. The business had revenue of $7.72 billion during the quarter, compared to analyst estimates of $7.70 billion. Salesforce had a return on equity of 3.32% and a net margin of 1.83%. The business’s revenue was up 21.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.87 earnings per share. As a group, equities research analysts anticipate that Salesforce, Inc. will post 2.2 EPS for the current fiscal year.

Salesforce declared that its Board of Directors has authorized a share buyback program on Wednesday, August 24th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the CRM provider to purchase up to 6.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity

In related news, CFO Amy E. Weaver sold 516 shares of the stock in a transaction on Monday, July 25th. The stock was sold at an average price of $177.86, for a total value of $91,775.76. Following the transaction, the chief financial officer now owns 30,486 shares of the company’s stock, valued at $5,422,239.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Amy E. Weaver sold 516 shares of Salesforce stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $177.86, for a total transaction of $91,775.76. Following the completion of the sale, the chief financial officer now directly owns 30,486 shares in the company, valued at approximately $5,422,239.96. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Bret Steven Taylor sold 619 shares of Salesforce stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $177.87, for a total transaction of $110,101.53. Following the sale, the chief executive officer now owns 932,807 shares of the company’s stock, valued at $165,918,381.09. The disclosure for this sale can be found here. Over the last three months, insiders have sold 71,246 shares of company stock worth $12,337,917. Corporate insiders own 3.60% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CRM. Guggenheim raised Salesforce from a “sell” rating to a “neutral” rating and set a $150.00 price target on the stock in a report on Friday, September 2nd. JPMorgan Chase & Co. lowered their price target on Salesforce from $275.00 to $245.00 and set an “overweight” rating on the stock in a report on Thursday, August 25th. Wedbush lowered their target price on Salesforce from $225.00 to $215.00 and set an “outperform” rating on the stock in a report on Thursday, August 25th. Oppenheimer reissued a “buy” rating and issued a $240.00 target price on shares of Salesforce in a report on Thursday. Finally, Mizuho lowered their target price on Salesforce from $245.00 to $235.00 and set a “buy” rating on the stock in a report on Thursday, August 25th. Five analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and a consensus target price of $242.12.

Salesforce Profile

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Salesforce, Inc provides customer relationship management technology that brings companies and customers together worldwide. Its Customer 360 platform empowers its customers to work together to deliver connected experiences for their customers. The company's service offerings include Sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and relationship intelligence, and deliver quotes, contracts, and invoices; and Service that enables companies to deliver trusted and highly personalized customer service and support at scale.

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Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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