Neumann Capital Management LLC Takes Position in Salesforce, Inc. (NYSE:CRM)

Neumann Capital Management LLC bought a new position in shares of Salesforce, Inc. (NYSE:CRM) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 600 shares of the CRM provider’s stock, valued at approximately $201,000.

Several other large investors have also recently bought and sold shares of the stock. Infrastructure Capital Advisors LLC acquired a new position in shares of Salesforce during the third quarter valued at about $27,000. Godsey & Gibb Inc. increased its position in shares of Salesforce by 300.0% during the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 90 shares during the period. Strategic Investment Solutions Inc. IL acquired a new position in shares of Salesforce in the second quarter valued at $33,000. Annapolis Financial Services LLC lifted its position in Salesforce by 135.6% in the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock worth $38,000 after purchasing an additional 80 shares during the period. Finally, Friedenthal Financial acquired a new stake in Salesforce during the fourth quarter worth $55,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Salesforce

In related news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $343.00, for a total value of $2,133,803.00. Following the sale, the chief financial officer now owns 53,861 shares of the company’s stock, valued at approximately $18,474,323. This trade represents a 10.35 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Sundeep G. Reddy sold 436 shares of the company’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $144,874.08. Following the transaction, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at approximately $2,344,899.96. This trade represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,173,891 shares of company stock valued at $402,840,388 over the last quarter. Corporate insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CRM shares. Northland Securities restated an “outperform” rating and issued a $440.00 price objective (up previously from $400.00) on shares of Salesforce in a research note on Wednesday, December 4th. Canaccord Genuity Group raised their price target on shares of Salesforce from $315.00 to $415.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Guggenheim lowered Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 price objective on the stock. in a research note on Monday, January 6th. Cfra set a $343.00 target price on Salesforce in a research report on Thursday, October 17th. Finally, Royal Bank of Canada lifted their price objective on Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have given a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat, Salesforce has an average rating of “Moderate Buy” and a consensus target price of $377.63.

Salesforce Trading Up 0.6 %

Shares of NYSE CRM opened at $334.75 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The company’s fifty day moving average is $336.50 and its 200-day moving average is $293.20. The stock has a market cap of $320.36 billion, a price-to-earnings ratio of 55.06, a P/E/G ratio of 3.01 and a beta of 1.30.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The business had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. During the same quarter last year, the company earned $1.62 earnings per share. The firm’s revenue was up 8.3% compared to the same quarter last year. Equities research analysts predict that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.

About Salesforce

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.