Gemmer Asset Management LLC Has $1.46 Million Stock Position in Salesforce, Inc. (NYSE:CRM)

Gemmer Asset Management LLC raised its holdings in Salesforce, Inc. (NYSE:CRM) by 36.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,421 shares of the CRM provider’s stock after buying an additional 1,443 shares during the quarter. Gemmer Asset Management LLC’s holdings in Salesforce were worth $1,455,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. OMC Financial Services LTD lifted its stake in shares of Salesforce by 0.3% in the 4th quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock valued at $3,808,000 after acquiring an additional 31 shares during the last quarter. Capital Advisors Ltd. LLC lifted its stake 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 acquiring an additional 31 shares during the last quarter. Prossimo Advisors LLC lifted its stake in shares of Salesforce by 1.0% in the 4th quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock valued at $1,125,000 after acquiring an additional 32 shares during the last quarter. Mainstream Capital Management LLC lifted its stake in shares of Salesforce by 0.5% in the 4th quarter. Mainstream Capital Management LLC now owns 6,409 shares of the CRM provider’s stock valued at $2,143,000 after acquiring an additional 33 shares during the last quarter. Finally, Warren Street Wealth Advisors LLC lifted its stake in shares of Salesforce by 3.9% in the 4th quarter. Warren Street Wealth Advisors LLC now owns 896 shares of the CRM provider’s stock valued at $300,000 after acquiring an additional 34 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Buying and Selling at Salesforce

In other Salesforce news, insider Miguel Milano sold 705 shares of Salesforce stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $279.44, for a total transaction of $197,005.20. Following the completion of the transaction, the insider now owns 9,323 shares in the company, valued at approximately $2,605,219.12. The trade was a 7.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Srinivas Tallapragada sold 6,697 shares of Salesforce stock in a transaction dated Wednesday, May 14th. The shares were 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 of the company’s stock, valued at $12,219,490. This trade represents a 13.92% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 40,332 shares of company stock worth $11,024,802. Insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on CRM shares. Wells Fargo & Company lifted their target price on Salesforce from $255.00 to $275.00 and gave the stock an “equal weight” rating in a report on Thursday, May 29th. Citigroup cut their target price on Salesforce from $320.00 to $295.00 and set a “neutral” rating on the stock in a report on Friday, May 30th. Bank of America cut their target price on Salesforce from $440.00 to $400.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Barclays cut their target price on Salesforce from $425.00 to $347.00 and set an “overweight” rating on the stock in a report on Thursday, May 29th. Finally, UBS Group cut their target price on Salesforce from $320.00 to $300.00 and set a “neutral” rating on the stock in a report on Tuesday, May 27th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-seven have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and an average price target of $346.34.

Salesforce Price Performance

CRM stock opened at $274.48 on Friday. The company has a market capitalization of $262.40 billion, a P/E ratio of 45.14, a price-to-earnings-growth 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 52-week low of $227.77 and a 52-week high of $369.00. The business has a 50-day simple moving average of $266.57 and a two-hundred day simple moving average of $302.58.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.55 by $0.03. The business had revenue of $9.83 billion during the quarter, compared to the consensus estimate of $9.74 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.44 EPS. Research analysts expect that Salesforce, Inc. will post 7.46 EPS for the current fiscal 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 paid a dividend of $0.416 per share. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $1.66 dividend on an annualized basis and a yield of 0.61%. Salesforce’s dividend payout ratio (DPR) is currently 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.