Daymark Wealth Partners LLC Has $47.13 Million Position in Salesforce, Inc. (NYSE:CRM)

Daymark Wealth Partners LLC grew its position in Salesforce, Inc. (NYSE:CRM) by 0.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 175,602 shares of the CRM provider’s stock after buying an additional 680 shares during the quarter. Salesforce accounts for about 1.6% of Daymark Wealth Partners LLC’s portfolio, making the stock its 16th largest holding. Daymark Wealth Partners LLC’s holdings in Salesforce were worth $47,125,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bernard Wealth Management Corp. acquired a new position in shares of Salesforce in the 4th quarter valued at approximately $25,000. Accredited Wealth Management LLC acquired a new position in shares of Salesforce in the 4th quarter valued at approximately $27,000. Arlington Trust Co LLC raised its position in shares of Salesforce by 85.1% in the 4th 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 position in shares of Salesforce in the 4th quarter valued at approximately $30,000. Finally, Asset Planning Inc acquired a new position in Salesforce during the 4th quarter worth approximately $31,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Stock Up 2.7%

Shares of NYSE CRM opened at $274.48 on Monday. The firm has a market cap of $262.40 billion, a PE ratio of 45.14, a P/E/G ratio of 2.58 and a beta of 1.38. Salesforce, Inc. has a 12-month low of $227.77 and a 12-month high of $369.00. The company’s fifty day simple moving average is $266.57 and its 200 day simple moving average is $302.19. 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 (NYSE:CRM) last issued its earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.03. The business had revenue of $9.83 billion for 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 was up 7.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.44 earnings per share. As a group, sell-side analysts forecast that Salesforce, Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Cuts Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Robert W. Baird lowered their price objective on shares of Salesforce from $430.00 to $400.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. The Goldman Sachs Group upped their price objective on shares of Salesforce from $340.00 to $385.00 and gave the stock a “buy” rating in a research report on Thursday, May 29th. DA Davidson reiterated an “underperform” rating and set a $200.00 price objective on shares of Salesforce in a research report on Wednesday, May 28th. Oppenheimer reiterated an “outperform” rating and set a $370.00 price objective (down from $380.00) on shares of Salesforce in a research report on Thursday, May 29th. Finally, Bank of America lowered their price objective on shares of Salesforce from $440.00 to $400.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-seven have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and an average target price of $346.34.

Insider Buying and Selling

In other news, CFO Amy E. Weaver sold 6,221 shares of the business’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 sale, the chief financial officer now directly owns 46,750 shares of the company’s stock, valued at $12,967,047.50. The trade was a 11.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider R David Schmaier sold 6,959 shares of the business’s stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total transaction of $1,762,784.29. Following the sale, the insider now directly 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 ownership of the stock. 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 over the last ninety days. 3.20% of the stock is owned by corporate insiders.

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.