Dynamic Advisor Solutions LLC Purchases New Holdings in Salesforce Inc. (NYSE:CRM)

Dynamic Advisor Solutions LLC acquired a new position in shares of Salesforce Inc. (NYSE:CRM - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 20,270 shares of the CRM provider's stock, valued at approximately $5,440,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Capital Advisors Ltd. LLC lifted its position in Salesforce by 4.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider's stock valued at $263,000 after buying an additional 31 shares during the period. Prossimo Advisors LLC grew its holdings in Salesforce by 1.0% in the fourth quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider's stock worth $1,125,000 after purchasing an additional 32 shares during the period. Mainstream Capital Management LLC increased its stake in shares of Salesforce by 0.5% during the fourth quarter. Mainstream Capital Management LLC now owns 6,409 shares of the CRM provider's stock valued at $2,143,000 after purchasing an additional 33 shares in the last quarter. Citizens National Bank Trust Department lifted its holdings in shares of Salesforce by 1.9% during the fourth quarter. Citizens National Bank Trust Department now owns 1,924 shares of the CRM provider's stock valued at $643,000 after purchasing an additional 35 shares during the last quarter. Finally, Delap Wealth Advisory LLC boosted its position in shares of Salesforce by 2.7% in the 4th quarter. Delap Wealth Advisory LLC now owns 1,336 shares of the CRM provider's stock worth $447,000 after purchasing an additional 35 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Stephens dropped their target price on Salesforce from $311.00 to $309.00 and set an "equal weight" rating on the stock in a report on Friday, May 30th. Bank of America lowered their price target on Salesforce from $440.00 to $400.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Royal Bank Of Canada downgraded shares of Salesforce from an "outperform" rating to a "sector perform" rating and cut their price objective for the company from $420.00 to $275.00 in a research report on Thursday, May 29th. Jefferies Financial Group dropped their target price on shares of Salesforce from $425.00 to $375.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Finally, Morgan Stanley reissued an "overweight" rating and set a $404.00 price target (up previously from $393.00) on shares of Salesforce in a research report on Thursday, May 29th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-eight have issued a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $349.08.

Insider Transactions at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 500 shares of Salesforce stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $275.00, for a total value of $137,500.00. Following the completion of the transaction, the chief accounting officer now directly owns 11,711 shares of the company's stock, valued at $3,220,525. This trade represents a 4.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Brian Millham sold 3,937 shares of Salesforce stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $284.58, for a total value of $1,120,391.46. Following the completion of the transaction, the chief executive officer now owns 5,518 shares of the company's stock, valued at approximately $1,570,312.44. This represents a 41.64% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,111 shares of company stock valued at $9,299,283 in the last ninety days. Corporate insiders own 3.20% of the company's stock.

Salesforce Price Performance

CRM stock traded down $3.78 during midday trading on Thursday, hitting $258.98. The company's stock had a trading volume of 7,623,720 shares, compared to its average volume of 6,535,521. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.14. Salesforce Inc. has a 12 month low of $230.00 and a 12 month high of $369.00. The company has a 50 day moving average of $268.31 and a two-hundred day moving average of $298.72. The firm has a market capitalization of $247.59 billion, a price-to-earnings ratio of 40.53, a price-to-earnings-growth ratio of 2.38 and a beta of 1.38.

Salesforce (NYSE:CRM - Get Free Report) last released 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 business had revenue of $9.83 billion during the quarter, compared to the consensus estimate of $9.74 billion. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. The business's revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.44 EPS. On average, analysts expect that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th will be paid a $0.416 dividend. This represents a $1.66 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date is Wednesday, June 18th. Salesforce's payout ratio is 25.98%.

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.