Salesforce, Inc. (NYSE:CRM) Stock Holdings Decreased by Summit Global Investments

Summit Global Investments lessened its position in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 85.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,597 shares of the CRM provider's stock after selling 20,341 shares during the quarter. Summit Global Investments' holdings in Salesforce were worth $965,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. OMC Financial Services LTD raised its stake in shares of Salesforce by 0.3% during the 4th quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider's stock worth $3,808,000 after acquiring an additional 31 shares in the last quarter. Capital Advisors Ltd. LLC raised its stake in shares of Salesforce by 4.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider's stock worth $263,000 after acquiring an additional 31 shares in the last quarter. Prossimo Advisors LLC raised its stake in shares of Salesforce by 1.0% during the 4th quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider's stock worth $1,125,000 after acquiring an additional 32 shares in the last quarter. Muirfield Wealth Advisors LLC increased its stake in Salesforce by 2.3% during the 4th quarter. Muirfield Wealth Advisors LLC now owns 1,457 shares of the CRM provider's stock valued at $487,000 after purchasing an additional 33 shares in the last quarter. Finally, Mainstream Capital Management LLC increased its stake in Salesforce by 0.5% during the 4th quarter. Mainstream Capital Management LLC now owns 6,409 shares of the CRM provider's stock valued at $2,143,000 after purchasing an additional 33 shares in the last quarter. Institutional investors own 80.43% of the company's stock.

Analyst Upgrades and Downgrades

CRM has been the topic of a number of recent analyst reports. Needham & Company LLC reiterated a "buy" rating and set a $400.00 price target on shares of Salesforce in a research report on Wednesday, May 28th. Robert W. Baird reduced their target price on shares of Salesforce from $430.00 to $400.00 and set an "outperform" rating for the company in a research report on Thursday, February 27th. Stephens lowered their target price on shares of Salesforce from $311.00 to $309.00 and set an "equal weight" rating for the company in a research note on Friday. Morgan Stanley reissued an "overweight" rating and issued a $404.00 price objective (up previously from $393.00) on shares of Salesforce in a research note on Thursday, May 29th. Finally, Stifel Nicolaus lowered their price objective on shares of Salesforce from $425.00 to $375.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-eight have given a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat.com, Salesforce presently has a consensus rating of "Moderate Buy" and an average price target of $346.34.

Salesforce Trading Up 0.8%

Shares of CRM traded up $2.16 on Tuesday, hitting $263.78. 3,473,257 shares of the stock traded hands, compared to its average volume of 7,040,262. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $253.60 billion, a P/E ratio of 43.38, a P/E/G ratio of 2.58 and a beta of 1.42. The stock's 50 day moving average is $266.92 and its two-hundred day moving average is $303.86. Salesforce, Inc. has a 1 year low of $227.77 and a 1 year 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 analysts' consensus estimates of $2.55 by $0.03. The company had revenue of $9.83 billion for the quarter, compared to the consensus estimate of $9.74 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. Salesforce's revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.44 earnings per share. As a group, sell-side analysts predict that Salesforce, Inc. will post 7.46 earnings per share for the current year.

Salesforce Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 0.64%. This is a positive change from Salesforce's previous quarterly dividend of $0.40. The ex-dividend date was Thursday, April 10th. Salesforce's dividend payout ratio (DPR) is presently 25.98%.

Insider Activity at Salesforce

In other news, CAO Sundeep G. Reddy sold 1,909 shares of the firm's 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 trade represents a 14.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Parker Harris sold 3,273 shares of Salesforce stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $284.58, for a total transaction of $931,430.34. Following the completion of the sale, the insider now owns 125,146 shares in the company, valued at approximately $35,614,048.68. This represents a 2.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 40,332 shares of company stock valued at $11,024,802. Corporate insiders own 3.20% of the company's stock.

Salesforce 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.