Salesforce Inc. (NYSE:CRM) Shares Bought by Heritage Investors Management Corp

Heritage Investors Management Corp lifted its stake in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 0.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 177,238 shares of the CRM provider's stock after buying an additional 1,230 shares during the quarter. Salesforce makes up approximately 1.6% of Heritage Investors Management Corp's portfolio, making the stock its 13th biggest position. Heritage Investors Management Corp's holdings in Salesforce were worth $47,563,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Millstone Evans Group LLC purchased a new stake in shares of Salesforce in the fourth quarter valued at $823,000. Heartland Bank & Trust Co lifted its position in Salesforce by 117.2% during the first quarter. Heartland Bank & Trust Co now owns 5,981 shares of the CRM provider's stock worth $1,605,000 after buying an additional 3,227 shares during the period. Elwood Capital Partners LP purchased a new position in Salesforce during the fourth quarter worth about $1,337,000. Strategic Blueprint LLC lifted its position in Salesforce by 13.5% during the first quarter. Strategic Blueprint LLC now owns 23,828 shares of the CRM provider's stock worth $6,394,000 after buying an additional 2,837 shares during the period. Finally, Czech National Bank lifted its position in Salesforce by 6.0% during the first quarter. Czech National Bank now owns 219,808 shares of the CRM provider's stock worth $58,988,000 after buying an additional 12,528 shares during the period. Hedge funds and other institutional investors own 80.43% of the company's stock.

Salesforce Trading Up 1.6%

Shares of NYSE:CRM traded up $4.35 during trading on Wednesday, reaching $267.94. The company's stock had a trading volume of 3,028,648 shares, compared to its average volume of 6,548,243. 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 12 month low of $230.00 and a 12 month high of $369.00. The firm's 50 day simple moving average is $270.45 and its two-hundred day simple moving average is $285.85. The stock has a market capitalization of $256.15 billion, a PE ratio of 41.93, a price-to-earnings-growth ratio of 2.38 and a beta of 1.36.

Salesforce (NYSE:CRM - Get Free Report) last issued its quarterly earnings data on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.55 by $0.03. The company had revenue of $9.83 billion for the quarter, compared to analyst estimates of $9.74 billion. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. Salesforce's revenue was up 7.6% compared to the same quarter last year. During the same period last year, the company posted $2.44 earnings per share. On average, research analysts predict that Salesforce Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th were paid a dividend of $0.416 per share. The ex-dividend date was Wednesday, June 18th. This represents a $1.66 annualized dividend and a dividend yield of 0.62%. Salesforce's payout ratio is currently 25.98%.

Insiders Place Their Bets

In other news, CEO Marc Benioff sold 2,250 shares of the business's stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $271.69, for a total transaction of $611,302.50. Following the completion of the sale, the chief executive officer owned 11,862,457 shares of the company's stock, valued at $3,222,910,942.33. The trade was a 0.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Srinivas Tallapragada sold 6,697 shares of the business's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $295.00, for a total transaction of $1,975,615.00. Following the sale, the insider directly owned 41,422 shares of the company's stock, valued at $12,219,490. This represents a 13.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 31,229 shares of company stock valued at $8,492,036 over the last 90 days. 3.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Jefferies Financial Group decreased their target price on Salesforce from $425.00 to $375.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Northland Securities lowered their price target on Salesforce from $423.00 to $396.00 and set an "outperform" rating on the stock in a research report on Thursday, May 29th. Oppenheimer reiterated an "outperform" rating and set a $370.00 price target on shares of Salesforce in a research report on Tuesday, June 10th. Mizuho decreased their target price on Salesforce from $425.00 to $380.00 and set an "outperform" rating on the stock in a report on Thursday, May 15th. Finally, Wells Fargo & Company lifted their target price on Salesforce from $255.00 to $275.00 and gave the stock an "equal weight" rating in a report on Thursday, May 29th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-seven have issued a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $348.16.

Salesforce Company 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.