Salesforce, Inc. (NYSE:CRM) Stock Position Lifted by Gemmer Asset Management LLC

Gemmer Asset Management LLC lifted its holdings in Salesforce, Inc. (NYSE:CRM - Free Report) by 36.3% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,421 shares of the CRM provider's stock after purchasing an additional 1,443 shares during the quarter. Gemmer Asset Management LLC's holdings in Salesforce were worth $1,455,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of CRM. Bernard Wealth Management Corp. bought a new position in Salesforce during the fourth quarter valued at about $25,000. Accredited Wealth Management LLC bought a new position in Salesforce during the fourth quarter valued at about $27,000. Arlington Trust Co LLC boosted its stake in Salesforce by 85.1% during the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock valued at $29,000 after buying an additional 40 shares in the last quarter. Compass Financial Services Inc bought a new position in Salesforce during the fourth quarter valued at about $30,000. Finally, Asset Planning Inc bought a new position in Salesforce during the fourth quarter valued at about $31,000. Institutional investors own 80.43% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on CRM shares. Scotiabank decreased their target price on Salesforce from $400.00 to $345.00 and set a "sector outperform" rating for the company in a research note on Monday, March 17th. BMO Capital Markets decreased their target price on Salesforce from $367.00 to $350.00 and set an "outperform" rating for the company in a research note on Tuesday, May 27th. Westpark Capital reaffirmed a "buy" rating and set a $320.00 target price on shares of Salesforce in a research note on Wednesday, May 28th. Wells Fargo & Company upped 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, Citigroup reduced their target price on Salesforce from $320.00 to $295.00 and set a "neutral" rating for the company in a report on Friday, May 30th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-seven have issued a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $346.34.

Salesforce Stock Performance

Shares of CRM stock opened at $274.48 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a fifty-two week low of $227.77 and a fifty-two week high of $369.00. The stock's 50-day moving average is $266.57 and its two-hundred day moving average is $302.58. The firm has a market cap of $262.40 billion, a P/E ratio of 45.14, a PEG ratio of 2.58 and a beta of 1.38.

Salesforce (NYSE:CRM - Get Free Report) last issued its 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. 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 analyst estimates of $9.74 billion. During the same period in the prior year, the firm posted $2.44 EPS. The business's revenue was up 7.6% compared to the same quarter last year. Analysts predict that Salesforce, Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th will be issued a dividend of $0.416 per share. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date is Wednesday, June 18th. Salesforce's dividend payout ratio is 25.98%.

Insider Activity

In other news, insider Miguel Milano sold 705 shares of the stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $279.44, for a total transaction of $197,005.20. Following the transaction, the insider now owns 9,323 shares of the company's stock, valued at approximately $2,605,219.12. This represents a 7.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Sundeep G. Reddy sold 1,909 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $284.58, for a total value of $543,263.22. Following the transaction, the chief accounting officer now directly owns 11,310 shares in the company, valued at approximately $3,218,599.80. This represents a 14.44% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 40,332 shares of company stock valued at $11,024,802. Insiders own 3.20% of the company's stock.

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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