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Salesforce Inc. (NYSE:CRM) Shares Acquired by Westwood Holdings Group Inc.

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Key Points

  • Westwood Holdings Group Inc. has increased its stake in Salesforce Inc. by 8.3%, holding 300,082 shares valued at approximately $80.53 million as of the latest SEC filing.
  • Salesforce's shares opened at $252.21, with a 12-month price range of $230.00 to $369.00, and the company has a market capitalization of $241.11 billion.
  • Analysts have a consensus rating of "Moderate Buy" for Salesforce, with a price target of $348.16, reflecting optimism among investment researchers.
  • Five stocks to consider instead of Salesforce.

Westwood Holdings Group Inc. increased its position in Salesforce Inc. (NYSE:CRM - Free Report) by 8.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 300,082 shares of the CRM provider's stock after acquiring an additional 23,120 shares during the period. Westwood Holdings Group Inc.'s holdings in Salesforce were worth $80,530,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Wealthspire Advisors LLC grew its holdings in shares of Salesforce by 5.4% in the 1st quarter. Wealthspire Advisors LLC now owns 8,324 shares of the CRM provider's stock worth $2,234,000 after acquiring an additional 426 shares during the period. Vision Financial Markets LLC grew its holdings in shares of Salesforce by 54.2% in the 1st quarter. Vision Financial Markets LLC now owns 478 shares of the CRM provider's stock worth $128,000 after acquiring an additional 168 shares during the period. ABC Arbitrage SA grew its holdings in shares of Salesforce by 32.6% in the 1st quarter. ABC Arbitrage SA now owns 5,853 shares of the CRM provider's stock worth $1,571,000 after acquiring an additional 1,439 shares during the period. LCM Capital Management Inc grew its holdings in shares of Salesforce by 2.5% in the 1st quarter. LCM Capital Management Inc now owns 4,164 shares of the CRM provider's stock worth $1,117,000 after acquiring an additional 102 shares during the period. Finally, Maxi Investments CY Ltd grew its holdings in shares of Salesforce by 483.5% in the 1st quarter. Maxi Investments CY Ltd now owns 34,172 shares of the CRM provider's stock worth $9,170,000 after acquiring an additional 28,316 shares during the period. Institutional investors and hedge funds own 80.43% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on CRM. BMO Capital Markets lowered their target price on Salesforce from $350.00 to $335.00 and set an "outperform" rating on the stock in a report on Thursday, July 10th. JMP Securities reiterated a "market outperform" rating and set a $430.00 target price on shares of Salesforce in a report on Friday, July 11th. Mizuho lowered their target price on Salesforce from $425.00 to $380.00 and set an "outperform" rating on the stock in a report on Thursday, May 15th. Wells Fargo & Company increased their target price on Salesforce from $255.00 to $275.00 and gave the company an "equal weight" rating in a report on Thursday, May 29th. Finally, Royal Bank Of Canada reiterated a "sector perform" rating and set a $275.00 target price on shares of Salesforce in a report on Monday, July 14th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-seven have assigned a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, Salesforce has a consensus rating of "Moderate Buy" and a consensus price target of $348.16.

Check Out Our Latest Report on Salesforce

Salesforce Stock Performance

Shares of CRM stock opened at $252.21 on Tuesday. Salesforce Inc. has a 12-month low of $230.00 and a 12-month 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. The firm has a market capitalization of $241.11 billion, a price-to-earnings ratio of 39.47, a price-to-earnings-growth ratio of 2.28 and a beta of 1.37. The business has a 50 day simple moving average of $265.62 and a 200 day simple moving average of $281.14.

Salesforce (NYSE:CRM - Get Free Report) last announced its quarterly earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.55 by $0.03. Salesforce had a return on equity of 12.94% and a net margin of 16.08%. The company had revenue of $9.83 billion during the quarter, compared to analyst estimates of $9.74 billion. During the same quarter in the previous year, the firm posted $2.44 EPS. The firm's quarterly revenue was up 7.6% on a year-over-year basis. On average, equities research analysts anticipate that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th were given a dividend of $0.416 per share. This represents a $1.66 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Wednesday, June 18th. Salesforce's payout ratio is 25.98%.

Insiders Place Their Bets

In other Salesforce news, CEO Marc Benioff sold 2,250 shares of the business's stock in a transaction on Friday, July 11th. The stock was sold at an average price of $259.67, for a total transaction of $584,257.50. Following the completion of the transaction, the chief executive officer owned 11,955,566 shares in the company, valued at approximately $3,104,501,823.22. The trade was a 0.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Srinivas Tallapragada sold 6,697 shares of the company's stock in a transaction that occurred 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 completion of the sale, the insider owned 41,422 shares of the company's stock, valued at $12,219,490. This trade represents a 13.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,979 shares of company stock valued at $11,330,746 in the last quarter. 3.20% of the stock is currently owned by insiders.

Salesforce Profile

(Free Report)

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.

Read More

Want to see what other hedge funds are holding CRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Salesforce Inc. (NYSE:CRM - Free Report).

Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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