Financial Enhancement Group LLC Buys New Stake in Salesforce Inc. (NYSE:CRM)

Financial Enhancement Group LLC bought a new position in shares of Salesforce Inc. (NYSE:CRM - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,254 shares of the CRM provider's stock, valued at approximately $605,000.

A number of other large investors have also recently made changes to their positions in CRM. Bernard Wealth Management Corp. bought a new position in Salesforce in the 4th quarter worth about $25,000. Accredited Wealth Management LLC purchased a new stake in shares of Salesforce in the fourth quarter valued at approximately $27,000. Halbert Hargrove Global Advisors LLC bought a new position in Salesforce in the fourth quarter worth approximately $35,000. Wood Tarver Financial Group LLC purchased a new position in Salesforce during the 4th quarter worth $35,000. Finally, VSM Wealth Advisory LLC purchased a new position in Salesforce during the 4th quarter worth $45,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Stock Performance

Shares of NYSE:CRM traded up $2.74 on Thursday, hitting $270.50. 6,668,207 shares of the company were exchanged, compared to its average volume of 6,510,166. The firm has a market capitalization of $258.60 billion, a P/E ratio of 42.33, a price-to-earnings-growth ratio of 2.46 and a beta of 1.38. 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 Inc. has a 1-year low of $230.00 and a 1-year high of $369.00. The stock's 50 day moving average price is $269.39 and its 200 day moving average price is $295.75.

Salesforce (NYSE:CRM - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The CRM provider reported $2.58 EPS for the quarter, topping analysts' consensus estimates of $2.55 by $0.03. The company had revenue of $9.83 billion during the quarter, compared to analysts' expectations of $9.74 billion. Salesforce had a return on equity of 12.94% and a net margin of 16.08%. The firm's revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.44 EPS. Sell-side analysts predict that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Cuts Dividend

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

Analyst Ratings Changes

A number of equities analysts have recently issued reports on CRM shares. Royal Bank Of Canada downgraded Salesforce from an "outperform" rating to a "sector perform" rating and dropped their price target for the stock from $420.00 to $275.00 in a research report on Thursday, May 29th. BMO Capital Markets lowered their price objective on shares of Salesforce from $367.00 to $350.00 and set an "outperform" rating for the company in a research note on Tuesday, May 27th. The Goldman Sachs Group increased their target price on shares of Salesforce from $340.00 to $385.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. Mizuho reduced their price target on shares of Salesforce from $425.00 to $380.00 and set an "outperform" rating for the company in a report on Thursday, May 15th. Finally, Jefferies Financial Group lowered their price target on shares of Salesforce from $425.00 to $375.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Two investment 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's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $349.08.

Insider Buying and Selling at Salesforce

In other Salesforce news, insider R David Schmaier sold 6,959 shares of Salesforce stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total transaction of $1,762,784.29. Following the completion of the transaction, the insider now owns 36,090 shares in the company, valued at approximately $9,141,957.90. This trade represents a 16.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Sundeep G. Reddy sold 261 shares of the business'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 $68,473.35. Following the completion of the transaction, the chief accounting officer now directly owns 12,024 shares of the company's stock, valued at approximately $3,154,496.40. This trade represents a 2.12% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,284 shares of company stock worth $6,996,762. Company insiders own 3.20% of the company's stock.

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.