Delaney Dennis R Increases Holdings in Salesforce Inc. (NYSE:CRM)

Delaney Dennis R increased its stake in Salesforce Inc. (NYSE:CRM - Free Report) by 66.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,694 shares of the CRM provider's stock after buying an additional 2,266 shares during the quarter. Delaney Dennis R's holdings in Salesforce were worth $1,528,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Seven Mile Advisory lifted its holdings in Salesforce by 2.3% during the 4th quarter. Seven Mile Advisory now owns 1,762 shares of the CRM provider's stock valued at $589,000 after purchasing an additional 39 shares during the last quarter. Liberty One Investment Management LLC lifted its holdings in Salesforce by 1.2% during the 1st quarter. Liberty One Investment Management LLC now owns 3,165 shares of the CRM provider's stock valued at $849,000 after purchasing an additional 39 shares during the last quarter. First Command Advisory Services Inc. lifted its holdings in Salesforce by 7.3% during the 1st quarter. First Command Advisory Services Inc. now owns 572 shares of the CRM provider's stock valued at $154,000 after purchasing an additional 39 shares during the last quarter. Clarity Wealth Advisors LLC lifted its holdings in Salesforce by 2.3% during the 1st quarter. Clarity Wealth Advisors LLC now owns 1,760 shares of the CRM provider's stock valued at $472,000 after purchasing an additional 40 shares during the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC lifted its holdings in Salesforce by 5.2% during the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 812 shares of the CRM provider's stock valued at $218,000 after purchasing an additional 40 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company's stock.

Analyst Ratings Changes

CRM has been the subject of a number of research reports. The Goldman Sachs Group lifted their target price on Salesforce from $340.00 to $385.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. BMO Capital Markets dropped their target price on Salesforce from $350.00 to $335.00 and set an "outperform" rating for the company in a report on Thursday, July 10th. Royal Bank Of Canada restated a "sector perform" rating and issued a $275.00 price target on shares of Salesforce in a research report on Monday, July 14th. Oppenheimer restated an "outperform" rating and issued a $370.00 price target on shares of Salesforce in a research report on Tuesday, June 10th. Finally, Erste Group Bank cut Salesforce from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-seven have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, Salesforce currently has a consensus rating of "Moderate Buy" and a consensus price target of $348.16.

Salesforce Stock Up 0.5%

Salesforce stock traded up $1.41 during trading on Friday, hitting $269.11. 4,013,320 shares of the company were exchanged, compared to its average volume of 6,704,325. The company has a market capitalization of $257.27 billion, a P/E ratio of 42.11, a PEG ratio of 2.43 and a beta of 1.36. 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 business's 50 day moving average is $268.07 and its 200 day moving average is $284.27. Salesforce Inc. has a 52 week low of $230.00 and a 52 week high of $369.00.

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

Salesforce Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Wednesday, June 18th were issued a dividend of $0.416 per share. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $1.66 dividend on an annualized basis and a yield of 0.62%. Salesforce's dividend payout ratio (DPR) is 25.98%.

Insider Transactions at Salesforce

In related news, CEO Marc Benioff sold 2,250 shares of the stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $266.56, for a total transaction of $599,760.00. Following the sale, the chief executive officer owned 11,911,571 shares of the company's stock, valued at approximately $3,175,148,365.76. This represents a 0.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders sold 33,479 shares of company stock worth $9,091,796. Corporate insiders own 3.20% of the company's stock.

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.