Gradient Investments LLC Buys 1,466 Shares of Salesforce, Inc. (NYSE:CRM)

Gradient Investments LLC lifted its position in Salesforce, Inc. (NYSE:CRM - Free Report) by 3.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 44,283 shares of the CRM provider's stock after purchasing an additional 1,466 shares during the quarter. Gradient Investments LLC's holdings in Salesforce were worth $11,884,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in CRM. Athena Investment Management bought a new stake in Salesforce during the 4th quarter worth about $236,000. Jag Capital Management LLC grew its holdings in Salesforce by 2,507.9% during the 4th quarter. Jag Capital Management LLC now owns 23,706 shares of the CRM provider's stock worth $7,926,000 after acquiring an additional 22,797 shares during the last quarter. Lecap Asset Management Ltd. bought a new stake in Salesforce during the 4th quarter worth about $2,861,000. Atlantic Union Bankshares Corp lifted its position in Salesforce by 2.7% during the 4th quarter. Atlantic Union Bankshares Corp now owns 27,358 shares of the CRM provider's stock valued at $9,146,000 after purchasing an additional 723 shares during the period. Finally, Dash Acquisitions Inc. lifted its position in Salesforce by 2.6% during the 4th quarter. Dash Acquisitions Inc. now owns 60,521 shares of the CRM provider's stock valued at $21,785,000 after purchasing an additional 1,525 shares during the period. Institutional investors own 80.43% of the company's stock.

Salesforce Stock Down 0.6%

Shares of CRM traded down $1.62 during mid-day trading on Wednesday, hitting $262.85. 7,368,819 shares of the company's stock were exchanged, compared to its average volume of 6,634,676. The company has a market cap of $251.28 billion, a PE ratio of 43.23, a P/E/G ratio of 2.58 and a beta of 1.38. Salesforce, Inc. has a 52 week low of $227.77 and a 52 week high of $369.00. The company has a 50-day simple moving average of $266.65 and a 200 day simple moving average of $303.58. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

Salesforce (NYSE:CRM - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share for the quarter, topping the consensus estimate 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 net margin of 15.96% and a return on equity of 12.34%. The business's quarterly revenue was up 7.6% on a year-over-year basis. During the same period last year, the business earned $2.44 EPS. On average, research analysts forecast that Salesforce, Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were paid a $0.42 dividend. The ex-dividend date was Thursday, April 10th. This is a boost from Salesforce's previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a dividend yield of 0.64%. Salesforce's dividend payout ratio (DPR) is currently 25.98%.

Insider Activity at Salesforce

In related news, insider Srinivas Tallapragada sold 6,697 shares of the firm's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $295.00, for a total value of $1,975,615.00. Following the completion of the transaction, the insider now directly owns 41,422 shares of the company's stock, valued at approximately $12,219,490. This trade represents a 13.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Sundeep G. Reddy sold 500 shares of Salesforce stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $275.00, for a total transaction of $137,500.00. Following the transaction, the chief accounting officer now directly owns 11,711 shares of the company's stock, valued at approximately $3,220,525. This trade represents a 4.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 40,332 shares of company stock valued at $11,024,802. 3.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Northland Securities cut their target price on shares of Salesforce from $423.00 to $396.00 and set an "outperform" rating on the stock in a research report on Thursday, May 29th. 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 report on Friday, May 30th. Macquarie restated a "neutral" rating and set a $320.00 target price on shares of Salesforce in a research report on Thursday, March 20th. Canaccord Genuity Group cut their target price on shares of Salesforce from $400.00 to $350.00 and set a "buy" rating on the stock in a research report on Wednesday, May 28th. Finally, Sanford C. Bernstein upped their target price on shares of Salesforce from $243.00 to $255.00 and gave the company an "underperform" rating in a research report on Thursday, May 29th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-eight have given a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, Salesforce currently has a consensus rating of "Moderate Buy" and an average target price of $346.34.

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.