Salesforce Inc. (NYSE:CRM) Position Increased by EULAV Asset Management

EULAV Asset Management increased its position in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 40.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,006 shares of the CRM provider's stock after acquiring an additional 15,000 shares during the period. EULAV Asset Management's holdings in Salesforce were worth $13,956,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bernard Wealth Management Corp. purchased a new stake in shares of Salesforce during the fourth quarter worth $25,000. Accredited Wealth Management LLC acquired a new position in Salesforce during the fourth quarter worth $27,000. Abound Financial LLC acquired a new position in Salesforce during the first quarter worth $31,000. Wood Tarver Financial Group LLC acquired a new position in Salesforce during the fourth quarter worth $35,000. Finally, VSM Wealth Advisory LLC acquired a new position in Salesforce during the fourth quarter worth $45,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Stock Up 0.9%

NYSE CRM opened at $271.58 on Monday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.14. The stock's 50 day moving average is $272.28 and its two-hundred day moving average is $291.15. The company has a market capitalization of $259.63 billion, a price-to-earnings ratio of 42.50, a PEG ratio of 2.47 and a beta of 1.36. Salesforce Inc. has a 1-year low of $230.00 and a 1-year high of $369.00.

Salesforce (NYSE:CRM - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $9.83 billion for the quarter, compared to analyst estimates of $9.74 billion. Salesforce had a return on equity of 12.94% and a net margin of 16.08%. The business's revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.44 earnings per share. Equities analysts forecast that Salesforce Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Cuts Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date of this dividend is Wednesday, June 18th. Salesforce's dividend payout ratio is currently 25.98%.

Insider Buying and Selling

In other Salesforce news, insider Srinivas Tallapragada sold 6,697 shares of the business's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $295.00, for a total value of $1,975,615.00. Following the transaction, the insider owned 41,422 shares of the company's stock, valued at approximately $12,219,490. The trade was a 13.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Parker Harris sold 1,142 shares of the business's stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $262.35, for a total value of $299,603.70. Following the completion of the transaction, the insider directly owned 136,824 shares in the company, valued at approximately $35,895,776.40. This represents a 0.83% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 28,534 shares of company stock valued at $7,609,842. Insiders own 3.20% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Mizuho lowered their target price on shares of Salesforce from $425.00 to $380.00 and set an "outperform" rating on the stock in a research report on Thursday, May 15th. Macquarie reissued a "neutral" rating and set a $320.00 target price on shares of Salesforce in a research report on Thursday, March 20th. Stephens lowered their target price on shares of Salesforce from $311.00 to $309.00 and set an "equal weight" rating on the stock in a research report on Friday, May 30th. Barclays lowered their target price on shares of Salesforce from $425.00 to $347.00 and set an "overweight" rating on the stock in a research report on Thursday, May 29th. Finally, Westpark Capital reissued a "buy" rating and set a $320.00 target price on shares of Salesforce in a research report on Wednesday, May 28th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-eight have issued a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Salesforce currently has a consensus rating of "Moderate Buy" and an average target price of $349.08.

Salesforce Company 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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