Ameriflex Group Inc. Makes New Investment in Salesforce, Inc. (NYSE:CRM)

Ameriflex Group Inc. purchased a new stake in Salesforce, Inc. (NYSE:CRM - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 1,059 shares of the CRM provider's stock, valued at approximately $362,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in CRM. Nvest Financial LLC grew its position in shares of Salesforce by 1.1% in the 4th quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider's stock worth $938,000 after acquiring an additional 31 shares in the last quarter. OMC Financial Services LTD raised its position in shares of Salesforce by 0.3% during the fourth quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider's stock worth $3,808,000 after purchasing an additional 31 shares during the period. Capital Advisors Ltd. LLC raised its position in shares of Salesforce by 4.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider's stock worth $263,000 after purchasing an additional 31 shares during the period. Prossimo Advisors LLC raised its position in Salesforce by 1.0% during the fourth quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider's stock valued at $1,125,000 after buying an additional 32 shares during the period. Finally, Muirfield Wealth Advisors LLC grew its stake in Salesforce by 2.3% in the fourth quarter. Muirfield Wealth Advisors LLC now owns 1,457 shares of the CRM provider's stock valued at $487,000 after purchasing an additional 33 shares in the last quarter. Institutional investors own 80.43% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CRM. DA Davidson reissued an "underperform" rating and issued a $200.00 target price on shares of Salesforce in a report on Wednesday. Stifel Nicolaus reduced their target price on Salesforce from $425.00 to $375.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Morgan Stanley reissued an "overweight" rating and issued a $404.00 price target (up previously from $393.00) on shares of Salesforce in a research note on Thursday. Mizuho dropped their price objective on Salesforce from $425.00 to $380.00 and set an "outperform" rating on the stock in a research note on Thursday, May 15th. Finally, Oppenheimer reaffirmed an "outperform" rating on shares of Salesforce in a research report on Thursday. Two analysts have rated the stock with a sell rating, six have issued a hold rating, thirty have issued a buy rating and five have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $343.26.

Insider Transactions at Salesforce

In related news, CAO Sundeep G. Reddy sold 1,909 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $284.58, for a total transaction of $543,263.22. Following the transaction, the chief accounting officer now owns 11,310 shares of the company's stock, valued at approximately $3,218,599.80. This trade represents a 14.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Parker Harris sold 3,273 shares of the business's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $284.58, for a total transaction of $931,430.34. Following the completion of the sale, the insider now directly owns 125,146 shares of the company's stock, valued at $35,614,048.68. This represents a 2.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 46,553 shares of company stock worth $12,897,323. 3.20% of the stock is currently owned by corporate insiders.

Salesforce Stock Performance

NYSE CRM traded down $15.67 during trading hours on Thursday, reaching $260.36. 15,815,222 shares of the company were exchanged, compared to its average volume of 6,988,714. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $250.31 billion, a P/E ratio of 42.78, a P/E/G ratio of 2.58 and a beta of 1.42. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The business's 50 day simple moving average is $268.16 and its 200-day simple moving average is $305.79.

Salesforce (NYSE:CRM - Get Free Report) last posted 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 analysts' expectations of $9.74 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The business's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the prior year, the company posted $2.44 EPS. On average, equities research analysts expect that Salesforce, Inc. will post 7.46 earnings per share for the current year.

Salesforce Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were paid a dividend of $0.42 per share. The ex-dividend date was Thursday, April 10th. This represents a $1.68 annualized dividend and a yield of 0.65%. This is a positive change from Salesforce's previous quarterly dividend of $0.40. Salesforce's payout ratio is 26.10%.

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.