Annex Advisory Services LLC Buys 35,949 Shares of Salesforce, Inc. (NYSE:CRM)

Annex Advisory Services LLC increased its holdings in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 42.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 120,356 shares of the CRM provider's stock after acquiring an additional 35,949 shares during the period. Salesforce makes up approximately 0.9% of Annex Advisory Services LLC's portfolio, making the stock its 28th biggest holding. Annex Advisory Services LLC's holdings in Salesforce were worth $32,299,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CRM. Bernard Wealth Management Corp. purchased a new stake in Salesforce during the fourth quarter worth $25,000. Accredited Wealth Management LLC purchased a new stake in Salesforce during the fourth quarter worth $27,000. Arlington Trust Co LLC boosted its position in Salesforce by 85.1% during the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock worth $29,000 after purchasing an additional 40 shares in the last quarter. Compass Financial Services Inc purchased a new stake in Salesforce during the fourth quarter worth $30,000. Finally, Asset Planning Inc purchased a new stake in Salesforce during the fourth quarter worth $31,000. Institutional investors and hedge funds own 80.43% of the company's stock.

Salesforce Stock Up 1.4%

Shares of CRM stock traded up $3.64 during trading hours on Thursday, reaching $266.81. The company had a trading volume of 8,638,662 shares, compared to its average volume of 6,607,927. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. Salesforce, Inc. has a twelve month low of $227.77 and a twelve month high of $369.00. The company has a market capitalization of $255.07 billion, a P/E ratio of 43.88, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. The stock's fifty day simple moving average is $266.51 and its 200 day simple moving average is $303.30.

Salesforce (NYSE:CRM - Get Free Report) last posted its quarterly earnings data 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. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company had revenue of $9.83 billion for the quarter, compared to the consensus estimate of $9.74 billion. During the same period in the previous year, the business earned $2.44 EPS. Salesforce's revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, sell-side analysts expect that Salesforce, Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th will be issued a dividend of $0.416 per share. This represents a $1.66 dividend on an annualized basis and a yield of 0.62%. Salesforce's dividend payout ratio is presently 25.98%.

Wall Street Analyst Weigh In

A number of research firms have commented on CRM. Loop Capital decreased their target price on Salesforce from $330.00 to $300.00 and set a "hold" rating on the stock in a research report on Thursday, February 27th. Barclays reduced their price objective on Salesforce from $425.00 to $347.00 and set an "overweight" rating on the stock in a research report on Thursday, May 29th. Redburn Atlantic assumed coverage on Salesforce in a research report on Wednesday, February 19th. They issued a "buy" rating on the stock. Oppenheimer restated an "outperform" rating and issued a $370.00 price objective (down from $380.00) on shares of Salesforce in a research report on Thursday, May 29th. Finally, UBS Group reduced their price objective on Salesforce from $320.00 to $300.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 27th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-seven have given a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, Salesforce has an average rating of "Moderate Buy" and an average target price of $346.34.

Insiders Place Their Bets

In related news, insider R David Schmaier sold 1,785 shares of the stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $288.34, for a total value of $514,686.90. Following the completion of the sale, the insider now directly owns 29,190 shares of the company's stock, valued at approximately $8,416,644.60. This represents a 5.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Srinivas Tallapragada sold 6,697 shares of the stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $295.00, for a total value of $1,975,615.00. Following the completion of the sale, the insider now directly owns 41,422 shares of the company's stock, valued at approximately $12,219,490. This represents a 13.92% 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 in the last quarter. Insiders own 3.20% of the company's stock.

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.