Bosman Wealth Management LLC Purchases Shares of 2,478 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 its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,478 shares of the CRM provider's stock, valued at approximately $665,000.

Other hedge funds also recently bought and sold shares of the company. Wulff Hansen & CO. grew its position in shares of Salesforce by 3.5% in the 4th quarter. Wulff Hansen & CO. now owns 1,035 shares of the CRM provider's stock worth $346,000 after buying an additional 35 shares during the last quarter. Seven Mile Advisory lifted its stake in Salesforce by 2.3% in the fourth quarter. Seven Mile Advisory now owns 1,762 shares of the CRM provider's stock worth $589,000 after acquiring an additional 39 shares during the period. Liberty One Investment Management LLC lifted its stake in Salesforce by 1.2% in the first quarter. Liberty One Investment Management LLC now owns 3,165 shares of the CRM provider's stock worth $849,000 after acquiring an additional 39 shares during the period. Kozak & Associates Inc. boosted its holdings in Salesforce by 1.6% in the first quarter. Kozak & Associates Inc. now owns 2,571 shares of the CRM provider's stock valued at $654,000 after acquiring an additional 41 shares in the last quarter. Finally, Meridian Wealth Partners LLC increased its position in Salesforce by 5.3% during the 4th quarter. Meridian Wealth Partners LLC now owns 834 shares of the CRM provider's stock valued at $279,000 after purchasing an additional 42 shares during the period. Hedge funds and other institutional investors own 80.43% of the company's stock.

Insider Activity

In other news, insider Srinivas Tallapragada sold 1,269 shares of the stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $262.35, for a total value of $332,922.15. Following the transaction, the insider directly owned 42,678 shares of the company's stock, valued at approximately $11,196,573.30. This represents a 2.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Miguel Milano sold 405 shares of the firm's stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $262.35, for a total value of $106,251.75. Following the completion of the transaction, the insider owned 9,933 shares of the company's stock, valued at approximately $2,605,922.55. The trade was a 3.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,284 shares of company stock valued at $9,444,537. 3.20% of the stock is owned by corporate insiders.

Salesforce Stock Down 2.2%

Shares of CRM stock traded down $5.74 during trading hours on Friday, reaching $258.23. 7,004,264 shares of the company's stock were exchanged, compared to its average volume of 6,540,561. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.14. The company has a market cap of $246.87 billion, a price-to-earnings ratio of 40.41, a P/E/G ratio of 2.39 and a beta of 1.36. Salesforce Inc. has a fifty-two week low of $230.00 and a fifty-two week high of $369.00. The stock's 50 day moving average is $272.43 and its 200-day moving average is $289.84.

Salesforce (NYSE:CRM - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The CRM provider reported $2.58 EPS for the quarter, beating 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%. Salesforce's revenue was up 7.6% on a year-over-year basis. During the same period last year, the firm posted $2.44 EPS. Analysts predict that Salesforce Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th were paid a dividend of $0.416 per share. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $1.66 annualized dividend and a dividend yield of 0.64%. Salesforce's payout ratio is currently 25.98%.

Analysts Set New Price Targets

A number of research firms recently issued reports on CRM. Westpark Capital reissued a "buy" rating and issued a $320.00 price target on shares of Salesforce in a research note on Wednesday, May 28th. Needham & Company LLC reiterated a "buy" rating and set a $400.00 target price on shares of Salesforce in a report on Wednesday, May 28th. Morgan Stanley reissued an "overweight" rating and issued a $404.00 target price (up previously from $393.00) on shares of Salesforce in a research report on Thursday, May 29th. Canaccord Genuity Group dropped their price target on Salesforce from $400.00 to $350.00 and set a "buy" rating on the stock in a research report on Wednesday, May 28th. Finally, Macquarie reaffirmed a "neutral" rating and issued a $320.00 price target on shares of Salesforce in a research note on Thursday, March 20th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-seven have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, Salesforce currently has an average rating of "Moderate Buy" and an average price target 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.