Salesforce Inc. (NYSE:CRM) Shares Purchased by Notis McConarty Edward

Notis McConarty Edward lifted its holdings in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 71.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,844 shares of the CRM provider's stock after purchasing an additional 1,604 shares during the quarter. Notis McConarty Edward's holdings in Salesforce were worth $1,032,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Bernard Wealth Management Corp. acquired a new stake in Salesforce in the fourth quarter valued at approximately $25,000. Accredited Wealth Management LLC acquired a new position in shares of Salesforce during the fourth quarter worth $27,000. Wood Tarver Financial Group LLC acquired a new position in shares of Salesforce during the fourth quarter worth $35,000. Capital A Wealth Management LLC lifted its holdings in shares of Salesforce by 450.0% during the first quarter. Capital A Wealth Management LLC now owns 110 shares of the CRM provider's stock worth $30,000 after purchasing an additional 90 shares during the period. Finally, CBIZ Investment Advisory Services LLC lifted its holdings in shares of Salesforce by 314.8% during the first quarter. CBIZ Investment Advisory Services LLC now owns 112 shares of the CRM provider's stock worth $30,000 after purchasing an additional 85 shares during the period. 80.43% of the stock is owned by institutional investors.

Salesforce Trading Up 0.5%

CRM traded up $1.41 on Friday, hitting $269.11. The company had a trading volume of 4,013,320 shares, compared to its average volume of 6,704,325. The firm has a market cap of $257.27 billion, a P/E ratio of 42.11, a PEG ratio of 2.43 and a beta of 1.36. Salesforce Inc. has a 1 year low of $230.00 and a 1 year high of $369.00. The company's fifty day moving average price is $268.07 and its 200 day moving average price is $284.27. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.03. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. The business had revenue of $9.83 billion for the quarter, compared to analysts' expectations of $9.74 billion. During the same quarter in the prior year, the company earned $2.44 earnings per share. The business's quarterly revenue was up 7.6% on a year-over-year basis. As a group, equities analysts expect that Salesforce Inc. will post 7.46 earnings per share for the current 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 $0.416 dividend. The ex-dividend date was Wednesday, June 18th. This represents a $1.66 annualized dividend and a yield of 0.62%. Salesforce's dividend payout ratio is currently 25.98%.

Insider Activity at Salesforce

In other Salesforce news, insider Srinivas Tallapragada sold 6,697 shares of the stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $295.00, for a total value of $1,975,615.00. Following the transaction, the insider directly owned 41,422 shares in the company, valued at $12,219,490. This represents a 13.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Marc Benioff sold 2,250 shares of the stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $271.69, for a total transaction of $611,302.50. Following the completion of the transaction, the chief executive officer owned 11,862,457 shares in the company, valued at $3,222,910,942.33. This represents a 0.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,479 shares of company stock worth $9,091,796 over the last quarter. 3.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on CRM. Westpark Capital reiterated a "buy" rating and set a $320.00 price target on shares of Salesforce in a report on Wednesday, May 28th. Royal Bank Of Canada reiterated a "sector perform" rating and set a $275.00 price target on shares of Salesforce in a report on Monday, July 14th. Needham & Company LLC reiterated a "buy" rating and set a $400.00 price target on shares of Salesforce in a report on Wednesday, May 28th. Guggenheim raised shares of Salesforce from a "sell" rating to a "neutral" rating in a research note on Monday, April 21st. Finally, Sanford C. Bernstein lifted their price target on shares of Salesforce from $243.00 to $255.00 and gave the company an "underperform" rating in a research note on Thursday, May 29th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-seven have assigned a buy rating and four have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $348.16.

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.