Greystone Financial Group LLC Raises Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Greystone Financial Group LLC lifted its holdings in Salesforce, Inc. (NYSE:CRM - Free Report) by 50.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,252 shares of the CRM provider's stock after purchasing an additional 1,421 shares during the quarter. Greystone Financial Group LLC's holdings in Salesforce were worth $1,141,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Bernard Wealth Management Corp. purchased a new stake in shares of Salesforce during the 4th quarter valued at about $25,000. Accredited Wealth Management LLC purchased a new stake in Salesforce during the 4th quarter valued at $27,000. Arlington Trust Co LLC raised its holdings in Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock valued at $29,000 after buying an additional 40 shares during the period. Compass Financial Services Inc bought a new stake in Salesforce in the fourth quarter worth $30,000. Finally, Asset Planning Inc purchased a new stake in shares of Salesforce in the fourth quarter valued at $31,000. Institutional investors own 80.43% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on CRM. Westpark Capital reissued a "buy" rating and issued a $320.00 price objective on shares of Salesforce in a research report on Wednesday, May 28th. Robert W. Baird reduced their price target on Salesforce from $430.00 to $400.00 and set an "outperform" rating on the stock in a report on Thursday, February 27th. Morgan Stanley reissued an "overweight" rating and set a $404.00 price target (up from $393.00) on shares of Salesforce in a research note on Thursday, May 29th. Stephens cut their price objective on Salesforce from $311.00 to $309.00 and set an "equal weight" rating on the stock in a research report on Friday, May 30th. Finally, UBS Group decreased their target price on Salesforce from $320.00 to $300.00 and set a "neutral" rating for the company in a research report on Tuesday, May 27th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-seven have issued a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $346.34.

Insider Buying and Selling

In other Salesforce news, CAO Sundeep G. Reddy sold 1,909 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 $543,263.22. Following the sale, the chief accounting officer now directly owns 11,310 shares of the company's stock, valued at approximately $3,218,599.80. This trade represents a 14.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Amy E. Weaver sold 6,221 shares of Salesforce 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 transaction, the chief financial officer now owns 46,750 shares of the company's stock, valued at $12,967,047.50. The trade was a 11.74% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 40,332 shares of company stock worth $11,024,802. 3.20% of the stock is owned by company insiders.

Salesforce Stock Up 2.7%

CRM stock opened at $274.48 on Monday. The stock has a market capitalization of $262.40 billion, a PE ratio of 45.14, a price-to-earnings-growth 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 quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm has a 50 day moving average of $266.57 and a 200 day moving average of $302.19.

Salesforce (NYSE:CRM - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $9.83 billion during the quarter, compared to the consensus estimate of $9.74 billion. During the same period in the previous year, the firm posted $2.44 earnings per share. The business's revenue for the quarter was up 7.6% compared to the same quarter last year. Sell-side analysts forecast that Salesforce, Inc. will post 7.46 earnings per share for the current year.

Salesforce Cuts Dividend

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

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.

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