Davidson Investment Advisors Has $22.86 Million Holdings in Salesforce Inc. (NYSE:CRM)

Davidson Investment Advisors boosted its position in Salesforce Inc. (NYSE:CRM - Free Report) by 2.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 85,188 shares of the CRM provider's stock after acquiring an additional 2,049 shares during the quarter. Davidson Investment Advisors' holdings in Salesforce were worth $22,861,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Wulff Hansen & CO. increased its stake 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 valued at $346,000 after acquiring an additional 35 shares in the last quarter. Seven Mile Advisory boosted its stake in Salesforce by 2.3% during the fourth quarter. Seven Mile Advisory now owns 1,762 shares of the CRM provider's stock valued at $589,000 after buying an additional 39 shares during the period. Kozak & Associates Inc. increased its position in shares of Salesforce by 1.6% during the 1st quarter. Kozak & Associates Inc. now owns 2,571 shares of the CRM provider's stock valued at $654,000 after purchasing an additional 41 shares during the last quarter. Meridian Wealth Partners LLC raised its position in Salesforce by 5.3% in the 4th quarter. Meridian Wealth Partners LLC now owns 834 shares of the CRM provider's stock worth $279,000 after purchasing an additional 42 shares during the period. Finally, Naviter Wealth LLC raised its position in Salesforce by 0.5% during the 1st quarter. Naviter Wealth LLC now owns 9,231 shares of the CRM provider's stock valued at $2,492,000 after purchasing an additional 42 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company's stock.

Insider Transactions at Salesforce

In other news, insider Miguel Milano sold 405 shares of the stock in a transaction on 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 sale, the insider owned 9,933 shares in the company, valued at $2,605,922.55. This represents a 3.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Marc Benioff sold 2,250 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $272.48, for a total value of $613,080.00. Following the completion of the transaction, the chief executive officer owned 11,862,457 shares in the company, valued at $3,232,282,283.36. This represents a 0.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,534 shares of company stock worth $7,609,842 over the last quarter. Insiders own 3.20% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on CRM shares. Wells Fargo & Company boosted their price objective on shares of Salesforce from $255.00 to $275.00 and gave the stock an "equal weight" rating in a report on Thursday, May 29th. UBS Group set a $404.00 target price on shares of Salesforce and gave the stock an "overweight" rating in a report on Wednesday, June 18th. Oppenheimer restated an "outperform" rating and issued a $370.00 price target on shares of Salesforce in a research report on Tuesday, June 10th. Scotiabank reduced their price target on shares of Salesforce from $400.00 to $345.00 and set a "sector outperform" rating on the stock in a research note on Monday, March 17th. Finally, The Goldman Sachs Group increased their price objective on shares of Salesforce from $340.00 to $385.00 and gave the company a "buy" rating in a research report on Thursday, May 29th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-eight have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $349.08.

Salesforce Stock Performance

NYSE CRM opened at $271.58 on Monday. 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 1-year low of $230.00 and a 1-year high of $369.00. The business's 50-day simple moving average is $272.28 and its 200-day simple moving average is $291.15. The firm has a market capitalization of $259.63 billion, a P/E ratio of 42.50, a P/E/G ratio of 2.47 and a beta of 1.36.

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 company 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%. Salesforce's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.44 EPS. Equities analysts predict that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th will be given a dividend of $0.416 per share. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $1.66 annualized dividend and a dividend yield of 0.61%. Salesforce's dividend payout ratio is currently 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.

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