Persium Advisors LLC Buys 134 Shares of Salesforce, Inc. (NYSE:CRM)

Persium Advisors LLC boosted its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 7.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,953 shares of the CRM provider’s stock after acquiring an additional 134 shares during the period. Persium Advisors LLC’s holdings in Salesforce were worth $524,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. OMC Financial Services LTD grew its holdings in Salesforce by 0.3% during the 4th quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock worth $3,808,000 after acquiring an additional 31 shares in the last quarter. Capital Advisors Ltd. LLC grew its holdings in Salesforce by 4.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock worth $263,000 after acquiring an additional 31 shares in the last quarter. Prossimo Advisors LLC grew its holdings in Salesforce by 1.0% during the 4th quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock worth $1,125,000 after acquiring an additional 32 shares in the last quarter. Mainstream Capital Management LLC grew its holdings in Salesforce by 0.5% during the 4th 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 in the last quarter. Finally, Warren Street Wealth Advisors LLC grew its holdings in Salesforce by 3.9% during the 4th 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 in the last quarter. 80.43% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Srinivas Tallapragada sold 6,697 shares of Salesforce stock in a transaction on 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 sale, the insider now owns 41,422 shares of the company’s stock, valued at approximately $12,219,490. This trade represents a 13.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Sundeep G. Reddy sold 500 shares of Salesforce stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $275.00, for a total transaction of $137,500.00. Following the completion of the sale, the chief accounting officer now directly owns 11,711 shares in the company, valued at $3,220,525. This represents a 4.09% decrease in their position. 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 three months. 3.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have commented on CRM shares. Royal Bank of Canada lowered shares of Salesforce from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from $420.00 to $275.00 in a research report on Thursday, May 29th. Macquarie reissued a “neutral” rating and set a $320.00 price target on shares of Salesforce in a research report on Thursday, March 20th. Wells Fargo & Company increased their price target on shares of Salesforce from $255.00 to $275.00 and gave the company an “equal weight” rating in a research report on Thursday, May 29th. Scotiabank decreased their price target on shares of Salesforce from $400.00 to $345.00 and set a “sector outperform” rating for the company in a research report on Monday, March 17th. Finally, BMO Capital Markets decreased their price target on shares of Salesforce from $367.00 to $350.00 and set an “outperform” rating for the company in a research report on Tuesday, May 27th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-seven have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $346.34.

Salesforce Stock Performance

CRM opened at $274.48 on Friday. Salesforce, Inc. has a 12-month low of $227.77 and a 12-month high of $369.00. 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 market capitalization of $262.40 billion, a PE ratio of 45.14, a P/E/G ratio of 2.58 and a beta of 1.38. The firm has a 50 day moving average of $266.57 and a two-hundred day moving average of $302.58.

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

Salesforce Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th will be issued a dividend of $0.416 per share. This represents a $1.66 annualized dividend and a dividend yield of 0.61%. The ex-dividend date of this dividend is Wednesday, June 18th. Salesforce’s dividend payout ratio (DPR) is 25.98%.

Salesforce Company 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.