FCG Investment Co Buys Shares of 7,654 Salesforce Inc. (NYSE:CRM)

Key Points

• FCG Investment Co acquired 7,654 shares of Salesforce Inc. valued at approximately $2,054,000, making it the company's 23rd biggest holding, comprising 1.3% of their total assets.
• Salesforce recently reported $2.58 earnings per share for the past quarter, exceeding estimates, with a revenue increase of 7.6% year-over-year to $9.83 billion.
• The company announced a quarterly dividend of $0.416, which corresponds to an annual dividend yield of 0.7%, with a dividend payout ratio of 25.98%.

FCG Investment Co bought a new stake in Salesforce Inc. (NYSE:CRM - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 7,654 shares of the CRM provider's stock, valued at approximately $2,054,000. Salesforce comprises approximately 1.3% of FCG Investment Co's holdings, making the stock its 23rd biggest holding.

A number of other large investors also recently bought and sold shares of the stock. Bernard Wealth Management Corp. purchased a new stake in Salesforce during the fourth quarter worth about $25,000. Accredited Wealth Management LLC purchased a new stake in Salesforce during the fourth quarter worth about $27,000. Wood Tarver Financial Group LLC purchased a new stake in Salesforce during the fourth quarter worth about $35,000. Capital A Wealth Management LLC increased its stake in Salesforce by 450.0% during the first quarter. Capital A Wealth Management LLC now owns 110 shares of the CRM provider's stock worth $30,000 after purchasing an additional 90 shares during the period. Finally, CBIZ Investment Advisory Services LLC increased its stake in Salesforce by 314.8% during the first quarter. CBIZ Investment Advisory Services LLC now owns 112 shares of the CRM provider's stock worth $30,000 after purchasing an additional 85 shares during the period. Institutional investors and hedge funds own 80.43% of the company's stock.

Salesforce Price Performance

CRM stock opened at $242.78 on Friday. The company has a market capitalization of $232.10 billion, a P/E ratio of 37.99, a PEG ratio of 2.20 and a beta of 1.37. Salesforce Inc. has a twelve month low of $226.48 and a twelve month high of $369.00. The business has a 50 day simple moving average of $260.41 and a 200-day simple moving average of $275.30. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.14.

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 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 return on equity of 12.94% and a net margin of 16.08%. The company's revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.44 earnings per share. As a group, equities analysts anticipate that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th were issued a $0.416 dividend. This represents a $1.66 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Wednesday, June 18th. Salesforce's dividend payout ratio is presently 25.98%.

Insider Buying and Selling at Salesforce

In related news, CEO Marc Benioff sold 2,250 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $234.64, for a total transaction of $527,940.00. Following the completion of the sale, the chief executive officer directly owned 11,911,571 shares of the company's stock, valued at $2,794,931,019.44. This trade represents a 0.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 46,532 shares of company stock valued at $12,082,694 over the last three months. 3.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CRM has been the topic of a number of recent research reports. Canaccord Genuity Group cut their price target on shares of Salesforce from $400.00 to $350.00 and set a "buy" rating on the stock in a research note on Wednesday, May 28th. Stephens cut their target price on shares of Salesforce from $311.00 to $309.00 and set an "equal weight" rating on the stock in a research note on Friday, May 30th. Citigroup cut their target price on shares of Salesforce from $320.00 to $295.00 and set a "neutral" rating on the stock in a research note on Friday, May 30th. Barclays cut their target price on shares of Salesforce from $425.00 to $347.00 and set an "overweight" rating on the stock in a research note on Thursday, May 29th. Finally, Mizuho cut their target price on shares of Salesforce from $425.00 to $380.00 and set an "outperform" rating on the stock in a research note on Thursday, May 15th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-seven have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $347.50.

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.

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