KMG Fiduciary Partners LLC Grows Holdings in Salesforce, Inc. (NYSE:CRM)

KMG Fiduciary Partners LLC boosted its position in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 64.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 40,489 shares of the CRM provider's stock after purchasing an additional 15,841 shares during the quarter. Salesforce comprises about 0.9% of KMG Fiduciary Partners LLC's holdings, making the stock its 26th biggest holding. KMG Fiduciary Partners LLC's holdings in Salesforce were worth $10,866,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CRM. Bernard Wealth Management Corp. purchased a new stake in 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 about $27,000. Arlington Trust Co LLC grew its position 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 purchasing an additional 40 shares during the last quarter. Compass Financial Services Inc purchased a new stake in Salesforce during the 4th quarter valued at about $30,000. Finally, Asset Planning Inc purchased a new stake in Salesforce during the 4th quarter valued at about $31,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider R David Schmaier sold 6,959 shares of the firm's stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total value of $1,762,784.29. Following the completion of the transaction, the insider now directly owns 36,090 shares of the company's stock, valued at approximately $9,141,957.90. This trade represents a 16.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the firm's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $277.37, for a total transaction of $1,725,518.77. Following the completion of the transaction, the chief financial officer now directly owns 46,750 shares of the company's stock, valued at approximately $12,967,047.50. This trade represents a 11.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 40,332 shares of company stock worth $11,024,802 over the last quarter. Insiders own 3.20% of the company's stock.

Salesforce Price Performance

NYSE CRM opened at $274.48 on Friday. The stock has a market cap of $262.40 billion, a price-to-earnings ratio of 45.14, a PEG ratio of 2.58 and a beta of 1.38. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 12 month low of $227.77 and a 12 month high of $369.00. The company's 50 day moving average is $266.57 and its two-hundred day moving average is $302.42.

Salesforce (NYSE:CRM - Get Free Report) last released 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 firm had revenue of $9.83 billion for 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 company's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.44 earnings per share. As a group, research analysts anticipate 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 will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th will be given a dividend of $0.416 per share. This represents a $1.66 annualized dividend and a dividend yield of 0.61%. The ex-dividend date of this dividend is Wednesday, June 18th. Salesforce's payout ratio is currently 25.98%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Stifel Nicolaus lowered their target price on shares of Salesforce from $425.00 to $375.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Guggenheim upgraded shares of Salesforce from a "sell" rating to a "neutral" rating in a research note on Monday, April 21st. Canaccord Genuity Group lowered their target price on shares of Salesforce from $400.00 to $350.00 and set a "buy" rating on the stock in a research note on Wednesday, May 28th. Robert W. Baird lowered their target price on shares of Salesforce from $430.00 to $400.00 and set an "outperform" rating on the stock in a research note on Thursday, February 27th. Finally, BMO Capital Markets lowered their target price on shares of Salesforce from $367.00 to $350.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 27th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-seven have assigned a buy rating and four have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Salesforce presently has a consensus rating of "Moderate Buy" and an average price target of $346.34.

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.

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