Crossmark Global Holdings Inc. Has $32.82 Million Position in Salesforce Inc. (NYSE:CRM)

Crossmark Global Holdings Inc. lifted its position in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 14.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 122,297 shares of the CRM provider's stock after buying an additional 15,236 shares during the quarter. Salesforce makes up 0.6% of Crossmark Global Holdings Inc.'s investment portfolio, making the stock its 29th largest position. Crossmark Global Holdings Inc.'s holdings in Salesforce were worth $32,820,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of CRM. Brighton Jones LLC boosted its position in shares of Salesforce by 13.7% in the fourth quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider's stock worth $8,582,000 after acquiring an additional 3,102 shares during the last quarter. Revolve Wealth Partners LLC boosted its position in shares of Salesforce by 12.6% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,827 shares of the CRM provider's stock worth $611,000 after acquiring an additional 205 shares during the last quarter. Proficio Capital Partners LLC boosted its position in shares of Salesforce by 70.4% in the fourth quarter. Proficio Capital Partners LLC now owns 2,791 shares of the CRM provider's stock worth $933,000 after acquiring an additional 1,153 shares during the last quarter. Edgestream Partners L.P. acquired a new stake in shares of Salesforce in the fourth quarter worth approximately $1,476,000. Finally, RKL Wealth Management LLC acquired a new stake in shares of Salesforce in the fourth quarter worth approximately $232,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CAO Sundeep G. Reddy sold 1,525 shares of the company's stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $253.66, for a total value of $386,831.50. Following the transaction, the chief accounting officer owned 12,211 shares in the company, valued at $3,097,442.26. This represents a 11.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Parker Harris sold 1,142 shares of the company's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $262.35, for a total value of $299,603.70. Following the completion of the transaction, the insider owned 136,824 shares in the company, valued at $35,895,776.40. This represents a 0.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,784 shares of company stock worth $8,223,890 over the last ninety days. 3.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on CRM shares. Guggenheim raised shares of Salesforce from a "sell" rating to a "neutral" rating in a research report on Monday, April 21st. Morgan Stanley restated 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, May 29th. Sanford C. Bernstein boosted their target price on shares of Salesforce from $243.00 to $255.00 and gave the company an "underperform" rating in a research note on Thursday, May 29th. Cantor Fitzgerald reiterated an "overweight" rating and set a $325.00 target price on shares of Salesforce in a research note on Thursday, June 26th. Finally, Stephens lowered their price target on shares of Salesforce from $311.00 to $309.00 and set an "equal weight" rating for the company in a research report on Friday, May 30th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-eight have assigned a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $349.08.

Salesforce Trading Down 0.9%

NYSE CRM traded down $2.41 on Monday, hitting $269.74. 6,249,121 shares of the company were exchanged, compared to its average volume of 6,542,618. The company's 50 day moving average price is $272.28 and its 200-day moving average price is $291.15. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a market capitalization of $257.87 billion, a P/E ratio of 42.21, a price-to-earnings-growth ratio of 2.47 and a beta of 1.36. Salesforce Inc. has a twelve month low of $230.00 and a twelve month high of $369.00.

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. The firm had revenue of $9.83 billion for the quarter, compared to the consensus estimate of $9.74 billion. Salesforce had a return on equity of 12.94% and a net margin of 16.08%. The business's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.44 EPS. Analysts predict that Salesforce Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th will be issued a $0.416 dividend. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.62%. Salesforce's dividend payout ratio is 25.98%.

About Salesforce

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.