Heritage Investors Management Corp Acquires 1,230 Shares of Salesforce Inc. (NYSE:CRM)

Heritage Investors Management Corp raised its position in Salesforce Inc. (NYSE:CRM - Free Report) by 0.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 177,238 shares of the CRM provider's stock after purchasing an additional 1,230 shares during the quarter. Salesforce accounts for approximately 1.6% of Heritage Investors Management Corp's holdings, making the stock its 13th largest holding. Heritage Investors Management Corp's holdings in Salesforce were worth $47,563,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of CRM. Seven Mile Advisory boosted its position in Salesforce by 2.3% in the fourth quarter. Seven Mile Advisory now owns 1,762 shares of the CRM provider's stock worth $589,000 after purchasing an additional 39 shares during the last quarter. Liberty One Investment Management LLC raised its stake in shares of Salesforce by 1.2% during the 1st quarter. Liberty One Investment Management LLC now owns 3,165 shares of the CRM provider's stock worth $849,000 after purchasing an additional 39 shares during the period. First Command Advisory Services Inc. boosted its holdings in shares of Salesforce by 7.3% in the 1st quarter. First Command Advisory Services Inc. now owns 572 shares of the CRM provider's stock worth $154,000 after buying an additional 39 shares during the last quarter. Clarity Wealth Advisors LLC grew its position in Salesforce by 2.3% during the first quarter. Clarity Wealth Advisors LLC now owns 1,760 shares of the CRM provider's stock valued at $472,000 after buying an additional 40 shares during the period. Finally, Mowery & Schoenfeld Wealth Management LLC grew its position in Salesforce by 5.2% during the first quarter. Mowery & Schoenfeld Wealth Management LLC now owns 812 shares of the CRM provider's stock valued at $218,000 after buying an additional 40 shares during the period. 80.43% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Miguel Milano sold 405 shares of the firm's stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $262.35, for a total value of $106,251.75. Following the transaction, the insider owned 9,933 shares in the company, valued at approximately $2,605,922.55. This trade represents a 3.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Marc Benioff sold 2,250 shares of the company's stock in a transaction on Friday, July 18th. The shares were sold at an average price of $260.92, for a total transaction of $587,070.00. Following the sale, the chief executive officer owned 11,911,571 shares of the company's stock, valued at $3,107,967,105.32. This represents a 0.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,069 shares of company stock valued at $9,698,893. Insiders own 3.20% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on CRM shares. Sanford C. Bernstein lifted their price objective on shares of Salesforce from $243.00 to $255.00 and gave the stock an "underperform" rating in a research report on Thursday, May 29th. Canaccord Genuity Group reduced their price objective on Salesforce from $400.00 to $350.00 and set a "buy" rating for the company in a report on Wednesday, May 28th. Erste Group Bank lowered Salesforce from a "buy" rating to a "hold" rating in a research note on Thursday, June 5th. Guggenheim raised Salesforce from a "sell" rating to a "neutral" rating in a research report on Monday, April 21st. Finally, Citigroup decreased their price objective on Salesforce from $320.00 to $295.00 and set a "neutral" rating for the company in a report on Friday, May 30th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-seven have issued a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $348.16.

Salesforce Price Performance

NYSE:CRM traded up $0.61 during mid-day trading on Tuesday, reaching $262.89. The stock had a trading volume of 3,046,325 shares, compared to its average volume of 6,551,276. The stock has a market capitalization of $251.32 billion, a P/E ratio of 41.16, a P/E/G ratio of 2.38 and a beta of 1.36. The firm has a 50 day moving average price of $270.45 and a two-hundred day moving average price of $285.85. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.07 and a current ratio of 1.07. Salesforce Inc. has a one year low of $230.00 and a one year high of $369.00.

Salesforce (NYSE:CRM - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share (EPS) for the quarter, beating 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 net margin of 16.08% and a return on equity of 12.94%. The firm's revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.44 EPS. As a group, analysts expect that Salesforce Inc. will post 7.46 earnings per share for the current 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 issued a $0.416 dividend. The ex-dividend date was Wednesday, June 18th. This represents a $1.66 annualized dividend and a dividend yield of 0.63%. Salesforce's dividend payout ratio is currently 25.98%.

Salesforce 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.