Allianz SE Grows Stock Position in Salesforce Inc. (NYSE:CRM)

Key Points

• Allianz SE increased its stake in Salesforce Inc. by 2.6%, bringing its total holdings to 57,958 shares valued at approximately $15.6 million.
• Salesforce recently reported a quarterly EPS of $2.58, exceeding analysts' expectations, with revenue of $9.83 billion, up 7.6% year-over-year.
• The company cut its quarterly dividend to $0.416, representing an annualized yield of 0.7%, with a payout ratio of 25.98%.

Allianz SE raised its holdings in Salesforce Inc. (NYSE:CRM - Free Report) by 2.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 57,958 shares of the CRM provider's stock after purchasing an additional 1,448 shares during the quarter. Allianz SE's holdings in Salesforce were worth $15,554,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Bernard Wealth Management Corp. bought a new position in shares of Salesforce in the 4th quarter worth about $25,000. Accredited Wealth Management LLC bought a new position in shares of Salesforce in the 4th quarter worth about $27,000. Capital A Wealth Management LLC raised its position in shares of Salesforce by 450.0% in the 1st quarter. Capital A Wealth Management LLC now owns 110 shares of the CRM provider's stock worth $30,000 after acquiring an additional 90 shares in the last quarter. CBIZ Investment Advisory Services LLC raised its position in shares of Salesforce by 314.8% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 112 shares of the CRM provider's stock worth $30,000 after acquiring an additional 85 shares in the last quarter. Finally, Abound Financial LLC bought a new position in shares of Salesforce in the 1st quarter worth about $31,000. Institutional investors and hedge funds own 80.43% of the company's stock.

Insider Buying and Selling at Salesforce

In other Salesforce news, CEO Marc Benioff sold 2,250 shares of the company's stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $265.77, for a total value of $597,982.50. Following the completion of the transaction, the chief executive officer owned 11,911,571 shares of the company's stock, valued at $3,165,738,224.67. This represents a 0.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders sold 39,729 shares of company stock worth $10,763,881. Corporate insiders own 3.20% of the company's stock.

Salesforce Trading Down 2.9%

CRM traded down $7.48 during midday trading on Friday, reaching $250.85. 7,643,247 shares of the company were exchanged, compared to its average volume of 5,950,044. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.07 and a current ratio of 1.07. Salesforce Inc. has a one year low of $230.00 and a one year high of $369.00. The stock has a market capitalization of $239.81 billion, a P/E ratio of 39.26, a PEG ratio of 2.28 and a beta of 1.37. The stock's 50-day simple moving average is $266.04 and its 200 day simple moving average is $281.65.

Salesforce (NYSE:CRM - Get Free Report) last announced its 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 for the quarter, compared to analyst estimates of $9.74 billion. Salesforce had a return on equity of 12.94% and a net margin of 16.08%. Salesforce's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter last year, the firm earned $2.44 EPS. As a group, 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 was paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th were given a dividend of $0.416 per share. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Wednesday, June 18th. Salesforce's dividend payout ratio is presently 25.98%.

Wall Street Analyst Weigh In

A number of analysts recently commented on CRM shares. Cantor Fitzgerald lowered Salesforce from an "overweight" rating to a "cautious" rating in a research report on Thursday, July 10th. Guggenheim raised Salesforce from a "sell" rating to a "neutral" rating in a research report on Monday, April 21st. Citigroup cut their price target on Salesforce from $320.00 to $295.00 and set a "neutral" rating for the company in a research note on Friday, May 30th. Sanford C. Bernstein lifted their price target on Salesforce from $243.00 to $255.00 and gave the company an "underperform" rating in a research note on Thursday, May 29th. Finally, Westpark Capital reiterated a "buy" rating and set a $320.00 price target on shares of Salesforce in a research note on Wednesday, May 28th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-seven have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, Salesforce currently has a consensus rating of "Moderate Buy" and an average target price of $348.16.

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.