Pioneer Wealth Management Group Purchases Shares of 1,535 Salesforce, Inc. (NYSE:CRM)

Pioneer Wealth Management Group bought a new position in shares of Salesforce, Inc. (NYSE:CRM - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,535 shares of the CRM provider's stock, valued at approximately $412,000. Salesforce accounts for 0.2% of Pioneer Wealth Management Group's portfolio, making the stock its 28th largest holding.

Several other large investors have also added to or reduced their stakes in the company. Tallon Kerry Patrick purchased a new position in Salesforce in the 4th quarter worth approximately $236,000. Brighton Jones LLC raised its position in shares of Salesforce by 13.7% during the fourth quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider's stock valued at $8,582,000 after buying an additional 3,102 shares during the last quarter. Union Bancaire Privee UBP SA purchased a new position in shares of Salesforce in the fourth quarter worth $104,173,000. Revolve Wealth Partners LLC boosted its position in shares of Salesforce by 12.6% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,827 shares of the CRM provider's stock worth $611,000 after acquiring an additional 205 shares during the last quarter. Finally, Heck Capital Advisors LLC purchased a new position in Salesforce during the fourth quarter valued at $134,000. Hedge funds and other institutional investors own 80.43% of the company's stock.

Insider Activity

In related news, CAO Sundeep G. Reddy sold 500 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $275.00, for a total value of $137,500.00. Following the completion of the transaction, the chief accounting officer now directly owns 11,711 shares of the company's stock, valued at $3,220,525. This trade represents a 4.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the company's stock in a transaction that occurred 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 transaction, the chief financial officer now owns 46,750 shares in the company, valued at $12,967,047.50. The trade was a 11.74% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 40,332 shares of company stock worth $11,024,802. Insiders own 3.20% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on CRM shares. Westpark Capital reiterated a "buy" rating and issued a $320.00 price target on shares of Salesforce in a research note on Wednesday, May 28th. 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. DA Davidson reaffirmed an "underperform" rating and issued a $200.00 price objective on shares of Salesforce in a research note on Wednesday, May 28th. Robert W. Baird cut their target price on shares of Salesforce from $430.00 to $400.00 and set an "outperform" rating for the company in a report on Thursday, February 27th. Finally, Mizuho decreased their price target on shares of Salesforce from $425.00 to $380.00 and set an "outperform" rating on the stock in a research note on Thursday, May 15th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-eight have assigned a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, Salesforce currently has an average rating of "Moderate Buy" and an average price target of $346.34.

Salesforce Stock Down 0.6%

Salesforce stock traded down $1.62 during mid-day trading on Wednesday, reaching $262.85. 7,366,369 shares of the company were exchanged, compared to its average volume of 6,634,663. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market cap of $251.28 billion, a P/E ratio of 43.23, a PEG ratio of 2.58 and a beta of 1.38. The business has a fifty day moving average of $266.65 and a 200 day moving average of $303.58. Salesforce, Inc. has a 12-month low of $227.77 and a 12-month high of $369.00.

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 for the quarter, beating analysts' consensus estimates of $2.55 by $0.03. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company had revenue of $9.83 billion for the quarter, compared to the consensus estimate of $9.74 billion. During the same quarter last year, the company earned $2.44 earnings per share. The firm's revenue for the quarter was up 7.6% compared to the same quarter last year. Research analysts anticipate that Salesforce, Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were given a dividend of $0.42 per share. The ex-dividend date was Thursday, April 10th. This is an increase from Salesforce's previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.64%. Salesforce's dividend payout ratio is presently 25.98%.

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.