Gateway Investment Advisers LLC Purchases 14,649 Shares of Salesforce, Inc. (NYSE:CRM)

Gateway Investment Advisers LLC boosted its position in Salesforce, Inc. (NYSE:CRM - Free Report) by 8.1% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 194,489 shares of the CRM provider's stock after acquiring an additional 14,649 shares during the period. Gateway Investment Advisers LLC's holdings in Salesforce were worth $52,193,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bernard Wealth Management Corp. acquired a new position in shares of Salesforce during the 4th quarter valued at $25,000. Accredited Wealth Management LLC bought a new stake in shares of Salesforce in the 4th quarter worth about $27,000. Arlington Trust Co LLC increased its position in shares of Salesforce by 85.1% in the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock worth $29,000 after purchasing an additional 40 shares during the last quarter. Compass Financial Services Inc bought a new stake in shares of Salesforce in the 4th quarter worth about $30,000. Finally, Asset Planning Inc bought a new position in Salesforce during the fourth quarter worth $31,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Stephens reduced their target price on shares of Salesforce from $311.00 to $309.00 and set an "equal weight" rating for the company 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 for the company in a research note on Friday, May 30th. Erste Group Bank lowered shares of Salesforce from a "buy" rating to a "hold" rating in a research note on Thursday. Canaccord Genuity Group cut their target price on shares of Salesforce from $400.00 to $350.00 and set a "buy" rating for the company in a research note on Wednesday, May 28th. Finally, 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 report on Thursday, May 29th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-seven have assigned a buy rating and four have given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $346.34.

Salesforce Trading Up 2.7%

Shares of NYSE:CRM traded up $7.34 on Friday, hitting $274.48. The company had a trading volume of 7,500,949 shares, compared to its average volume of 6,591,192. The firm's 50-day simple moving average is $266.57 and its two-hundred day simple moving average is $302.58. Salesforce, Inc. has a 1 year low of $227.77 and a 1 year high of $369.00. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $262.40 billion, a price-to-earnings ratio of 45.14, a P/E/G ratio of 2.58 and a beta of 1.38.

Salesforce (NYSE:CRM - Get Free Report) last posted its earnings results on Wednesday, May 28th. The CRM provider reported $2.58 EPS for the quarter, topping the consensus estimate of $2.55 by $0.03. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm had revenue of $9.83 billion during the quarter, compared to analysts' expectations of $9.74 billion. During the same period last year, the company posted $2.44 EPS. The company's quarterly revenue was up 7.6% compared to the same quarter last year. Equities analysts anticipate that Salesforce, Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th will be given a $0.416 dividend. The ex-dividend date is Wednesday, June 18th. This represents a $1.66 annualized dividend and a dividend yield of 0.61%. Salesforce's dividend payout ratio is 25.98%.

Insider Buying and Selling

In related news, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $277.37, for a total value of $1,725,518.77. Following the completion of the transaction, the chief financial officer now directly owns 46,750 shares in the company, valued at $12,967,047.50. This trade represents a 11.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brian Millham sold 3,937 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $284.58, for a total transaction 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. The trade was a 41.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 40,332 shares of company stock worth $11,024,802 in the last three months. 3.20% of the stock is owned by corporate insiders.

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.