Louisbourg Investments Inc. Boosts Holdings in Salesforce Inc. (NYSE:CRM)

Louisbourg Investments Inc. raised its position in Salesforce Inc. (NYSE:CRM - Free Report) by 13.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,357 shares of the CRM provider's stock after buying an additional 3,170 shares during the quarter. Salesforce accounts for 1.8% of Louisbourg Investments Inc.'s holdings, making the stock its 12th biggest holding. Louisbourg Investments Inc.'s holdings in Salesforce were worth $7,073,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Bernard Wealth Management Corp. acquired a new stake in shares of Salesforce in the 4th quarter valued at $25,000. Accredited Wealth Management LLC bought a new position in Salesforce in the fourth quarter valued at about $27,000. Halbert Hargrove Global Advisors LLC acquired a new position in Salesforce during the fourth quarter worth about $35,000. Wood Tarver Financial Group LLC bought a new position in shares of Salesforce in the fourth quarter worth about $35,000. Finally, VSM Wealth Advisory LLC acquired a new stake in shares of Salesforce in the 4th quarter valued at approximately $45,000. Institutional investors own 80.43% of the company's stock.

Salesforce Trading Down 1.4%

CRM traded down $3.78 during midday trading on Wednesday, reaching $258.98. 7,623,720 shares of the company's stock traded hands, compared to its average volume of 6,535,519. The stock has a market capitalization of $247.59 billion, a price-to-earnings ratio of 40.53, a P/E/G ratio of 2.38 and a beta of 1.38. The firm has a fifty day moving average of $268.43 and a two-hundred day moving average of $299.00. Salesforce Inc. has a 52 week low of $230.00 and a 52 week high of $369.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.07 and a quick ratio of 1.07.

Salesforce (NYSE:CRM - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The CRM provider reported $2.58 EPS for the quarter, topping analysts' consensus estimates 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 return on equity of 12.94% and a net margin of 16.08%. The business's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.44 EPS. On average, equities analysts anticipate that Salesforce Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th will be paid a $0.416 dividend. This represents a $1.66 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend is Wednesday, June 18th. Salesforce's payout ratio is currently 25.98%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on CRM shares. Erste Group Bank lowered Salesforce from a "buy" rating to a "hold" rating in a research note on Thursday, June 5th. The Goldman Sachs Group boosted their price target on shares of Salesforce from $340.00 to $385.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. Canaccord Genuity Group decreased their price objective on shares of Salesforce from $400.00 to $350.00 and set a "buy" rating for the company in a research report on Wednesday, May 28th. BMO Capital Markets dropped their target price on shares of Salesforce from $367.00 to $350.00 and set an "outperform" rating on the stock in a report on Tuesday, May 27th. Finally, Redburn Atlantic initiated coverage on Salesforce in a report on Wednesday, February 19th. They set a "buy" rating for the company. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-seven have assigned a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $346.34.

Insider Activity

In other Salesforce news, insider Srinivas Tallapragada sold 6,697 shares of the firm's stock in a transaction dated 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 transaction, the insider now owns 41,422 shares of the company's stock, valued at approximately $12,219,490. This trade represents a 13.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Miguel Milano sold 705 shares of the firm's stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $279.44, for a total value of $197,005.20. Following the completion of the transaction, the insider now owns 9,323 shares of the company's stock, valued at $2,605,219.12. This trade represents a 7.03% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,111 shares of company stock worth $9,299,283. 3.20% of the stock is currently owned by insiders.

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.