1,543 Shares in Salesforce Inc. (NYSE:CRM) Purchased by Kingsman Wealth Management Inc.

Kingsman Wealth Management Inc. purchased a new position in shares of Salesforce Inc. (NYSE:CRM - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,543 shares of the CRM provider's stock, valued at approximately $414,000.

A number of other institutional investors have also recently bought and sold shares of CRM. Bernard Wealth Management Corp. bought a new stake in Salesforce during the 4th quarter worth about $25,000. Accredited Wealth Management LLC acquired a new position in shares of Salesforce during the 4th quarter worth about $27,000. Capital A Wealth Management LLC grew its position in shares of Salesforce by 450.0% during the 1st quarter. Capital A Wealth Management LLC now owns 110 shares of the CRM provider's stock worth $30,000 after buying an additional 90 shares during the period. CBIZ Investment Advisory Services LLC grew its position in shares of Salesforce by 314.8% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 112 shares of the CRM provider's stock worth $30,000 after buying an additional 85 shares during the period. Finally, Abound Financial LLC acquired a new position in shares of Salesforce in the 1st quarter valued at approximately $31,000. Institutional investors and hedge funds own 80.43% of the company's stock.

Wall Street Analyst Weigh In

CRM has been the topic of a number of research analyst reports. The Goldman Sachs Group increased their price target on Salesforce from $340.00 to $385.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. Mizuho cut their price target on Salesforce from $425.00 to $380.00 and set an "outperform" rating on the stock in a research note on Thursday, May 15th. Needham & Company LLC restated a "buy" rating and set a $400.00 price objective on shares of Salesforce in a research report on Wednesday, May 28th. Morgan Stanley restated an "overweight" rating and set a $404.00 price objective (up from $393.00) on shares of Salesforce in a research report on Thursday, May 29th. Finally, Royal Bank Of Canada reiterated a "sector perform" rating and issued a $275.00 target price on shares of Salesforce in a report on Monday, July 14th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-seven have given a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $348.16.

Salesforce Stock Performance

Shares of NYSE CRM traded down $0.07 during mid-day trading on Monday, hitting $262.31. The stock had a trading volume of 6,692,512 shares, compared to its average volume of 6,566,935. The company has a 50 day moving average of $270.45 and a two-hundred day moving average 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 twelve month low of $230.00 and a twelve month high of $369.00. The firm has a market cap of $250.77 billion, a PE ratio of 41.05, a PEG ratio of 2.38 and a beta of 1.36.

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

Salesforce Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th were paid a dividend of $0.416 per share. This represents a $1.66 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date of this dividend was Wednesday, June 18th. Salesforce's dividend payout ratio is currently 25.98%.

Insiders Place Their Bets

In other Salesforce news, insider R David Schmaier sold 4,586 shares of the business's stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $253.66, for a total transaction of $1,163,284.76. Following the sale, the insider directly owned 33,273 shares in the company, valued at approximately $8,440,029.18. The trade was a 12.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Srinivas Tallapragada sold 6,697 shares of Salesforce stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $295.00, for a total transaction of $1,975,615.00. Following the completion of the sale, the insider owned 41,422 shares of the company's stock, valued at $12,219,490. This trade represents a 13.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 36,069 shares of company stock valued at $9,698,893 in the last ninety days. Corporate insiders own 3.20% of the company's stock.

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.