Bosman Wealth Management LLC Takes $665,000 Position in Salesforce Inc. (NYSE:CRM)

Bosman Wealth Management LLC bought a new position in Salesforce Inc. (NYSE:CRM - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 2,478 shares of the CRM provider's stock, valued at approximately $665,000.

Several other institutional investors have also recently bought and sold shares of CRM. Bernard Wealth Management Corp. acquired a new position in shares of Salesforce during the fourth quarter worth approximately $25,000. Accredited Wealth Management LLC acquired a new position in shares of Salesforce during the fourth quarter worth approximately $27,000. Abound Financial LLC bought a new stake in shares of Salesforce during the first quarter worth approximately $31,000. Wood Tarver Financial Group LLC bought a new stake in shares of Salesforce during the fourth quarter worth approximately $35,000. Finally, VSM Wealth Advisory LLC bought a new stake in shares of Salesforce during the fourth quarter worth approximately $45,000. Institutional investors own 80.43% of the company's stock.

Salesforce Stock Down 2.6%

NYSE:CRM opened at $263.95 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.07 and a quick ratio of 1.07. Salesforce Inc. has a one year low of $230.00 and a one year high of $369.00. The firm's 50 day simple moving average is $272.43 and its 200 day simple moving average is $289.84. The company has a market cap of $252.34 billion, a PE ratio of 41.31, a P/E/G ratio of 2.46 and a beta of 1.36.

Salesforce (NYSE:CRM - Get Free Report) last released its quarterly 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 firm had revenue of $9.83 billion during the quarter, compared to analyst estimates of $9.74 billion. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. The company's revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the business earned $2.44 EPS. On average, research analysts anticipate that Salesforce Inc. will post 7.46 earnings per share for the current year.

Salesforce Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Wednesday, June 18th were paid a $0.416 dividend. This represents a $1.66 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date was Wednesday, June 18th. Salesforce's dividend payout ratio is currently 25.98%.

Analyst Upgrades and Downgrades

Several brokerages have commented on CRM. Barclays lowered their target price on shares of Salesforce from $425.00 to $347.00 and set an "overweight" rating for the company in a research note on Thursday, May 29th. Citigroup lowered their price objective on shares of Salesforce from $320.00 to $295.00 and set a "neutral" rating for the company in a research report on Friday, May 30th. Needham & Company LLC reissued a "buy" rating and set a $400.00 price objective on shares of Salesforce in a research report on Wednesday, May 28th. Wells Fargo & Company increased their price objective on shares of Salesforce from $255.00 to $275.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 29th. Finally, BMO Capital Markets reduced their target price on shares of Salesforce from $350.00 to $335.00 and set an "outperform" rating for the company in a report on Thursday. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-seven have given a buy rating and four have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Salesforce presently has a consensus rating of "Moderate Buy" and a consensus price target of $348.68.

Insiders Place Their Bets

In related news, CEO Marc Benioff sold 2,250 shares of Salesforce stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $271.69, for a total value of $611,302.50. Following the transaction, the chief executive officer owned 11,862,457 shares in the company, valued at $3,222,910,942.33. This trade represents a 0.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Miguel Milano sold 405 shares of the firm's stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $262.35, for a total transaction of $106,251.75. Following the completion of the sale, the insider directly owned 9,933 shares in the company, valued at approximately $2,605,922.55. This trade represents a 3.92% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,284 shares of company stock worth $9,444,537 in the last ninety days. 3.20% of the stock is owned by corporate insiders.

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.

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