Salesforce, Inc. (NYSE:CRM) Holdings Lifted by Baker Tilly Wealth Management LLC

Baker Tilly Wealth Management LLC increased its position in shares of Salesforce, Inc. (NYSE:CRM) by 8.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,571 shares of the CRM provider’s stock after acquiring an additional 370 shares during the period. Baker Tilly Wealth Management LLC’s holdings in Salesforce were worth $1,227,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bernard Wealth Management Corp. acquired a new stake in Salesforce during the fourth quarter valued at approximately $25,000. Accredited Wealth Management LLC bought a new position in shares of Salesforce in the fourth quarter valued at $27,000. Arlington Trust Co LLC increased its holdings in shares of Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after buying an additional 40 shares in the last quarter. Compass Financial Services Inc acquired a new stake in shares of Salesforce during the 4th quarter valued at $30,000. Finally, Asset Planning Inc bought a new stake in shares of Salesforce during the 4th quarter worth $31,000. 80.43% of the stock is currently owned by institutional investors.

Salesforce Price Performance

Shares of Salesforce stock opened at $265.03 on Monday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm has a fifty day simple moving average of $267.31 and a 200-day simple moving average of $304.30. The stock has a market capitalization of $254.80 billion, a price-to-earnings ratio of 43.59, a PEG ratio of 2.58 and a beta of 1.42. Salesforce, Inc. has a 1-year low of $227.77 and a 1-year high of $369.00.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share for the quarter, topping analysts’ consensus estimates of $2.55 by $0.03. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm had revenue of $9.83 billion during the quarter, compared to analyst estimates of $9.74 billion. During the same quarter in the previous year, the business earned $2.44 EPS. The business’s revenue was up 7.6% on a year-over-year basis. On average, sell-side analysts expect that Salesforce, Inc. will post 7.46 earnings per share for the current year.

Salesforce Increases Dividend

The firm 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. The ex-dividend date was Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a yield of 0.63%. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s dividend payout ratio (DPR) is 25.98%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Barclays reduced their target price on Salesforce from $425.00 to $347.00 and set an “overweight” rating for the company in a report on Thursday. DA Davidson reaffirmed an “underperform” rating and set a $200.00 price objective on shares of Salesforce in a research note on Wednesday, May 28th. Loop Capital decreased their target price on shares of Salesforce from $330.00 to $300.00 and set a “hold” rating for the company in a report on Thursday, February 27th. Macquarie restated a “neutral” rating and set a $320.00 price target on shares of Salesforce in a report on Thursday, March 20th. Finally, Canaccord Genuity Group decreased their price objective on shares of Salesforce from $400.00 to $350.00 and set a “buy” rating for the company in a research note on Wednesday, May 28th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-eight have issued a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $343.32.

Insiders Place Their Bets

In other news, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $277.37, for a total transaction of $1,725,518.77. Following the completion of the transaction, the chief financial officer now owns 46,750 shares of the company’s stock, valued at approximately $12,967,047.50. This represents a 11.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider R David Schmaier sold 6,959 shares of the stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total transaction of $1,762,784.29. Following the completion of the sale, the insider now owns 36,090 shares of the company’s stock, valued at approximately $9,141,957.90. The trade was a 16.17% 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 valued at $11,024,802 in the last three months. Company insiders own 3.20% of the company’s stock.

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.