TrueWealth Advisors LLC Acquires New Holdings in Salesforce, Inc. (NYSE:CRM)

TrueWealth Advisors LLC bought a new stake in Salesforce, Inc. (NYSE:CRM) in the first quarter, Holdings Channel.com reports. The institutional investor bought 1,710 shares of the CRM provider’s stock, valued at approximately $459,000.

Other hedge funds also recently modified their holdings of the company. OMC Financial Services LTD increased its holdings in shares of Salesforce by 0.3% during 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 raised its position in shares of Salesforce by 4.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock valued at $263,000 after purchasing an additional 31 shares during the period. Prossimo Advisors LLC boosted its holdings in shares of 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 buying an additional 32 shares during the period. Mainstream Capital Management LLC grew its stake in 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 buying an additional 33 shares during the last quarter. Finally, Warren Street Wealth Advisors LLC grew its stake in 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 buying an additional 34 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on CRM. Needham & Company LLC reiterated a “buy” rating and issued a $400.00 price objective on shares of Salesforce in a research note on Wednesday, May 28th. Cantor Fitzgerald began coverage on Salesforce in a research report on Tuesday. They issued an “overweight” rating and a $325.00 price target on the stock. Scotiabank reduced their price objective on Salesforce from $400.00 to $345.00 and set a “sector outperform” rating for the company in a research report on Monday, March 17th. The Goldman Sachs Group raised their price objective on shares of Salesforce from $340.00 to $385.00 and gave the stock a “buy” rating in a research note on Thursday, May 29th. Finally, Redburn Atlantic assumed coverage on shares of Salesforce in a research note on Wednesday, February 19th. They set a “buy” rating for the company. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-eight have assigned a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $346.34.

Insider Activity

In related news, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction that occurred on 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. The trade was a 11.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Srinivas Tallapragada sold 6,697 shares of the business’s stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $295.00, for a total transaction 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 ownership of the stock. 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 over the last three months. Corporate insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

Shares of CRM stock opened at $264.56 on Wednesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The business’s 50 day simple moving average is $266.65 and its 200 day simple moving average is $303.58. Salesforce, Inc. has a one year low of $227.77 and a one year high of $369.00. The stock has a market capitalization of $252.92 billion, a PE ratio of 43.51, a PEG ratio of 2.58 and a beta of 1.38.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, May 28th. The CRM provider reported $2.58 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 analyst estimates of $9.74 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm’s revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.44 EPS. As a group, research analysts forecast that Salesforce, Inc. will post 7.46 earnings per share for the current year.

Salesforce Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 0.64%. This is an increase from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, April 10th. Salesforce’s dividend payout ratio is presently 25.98%.

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.