Toth Financial Advisory Corp Acquires New Shares in Salesforce, Inc. (NYSE:CRM)

Toth Financial Advisory Corp purchased a new stake in shares of Salesforce, Inc. (NYSE:CRM - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,331 shares of the CRM provider's stock, valued at approximately $357,000.

Other hedge funds have also recently bought and sold shares of the company. Wesbanco Bank Inc. boosted its holdings in Salesforce by 7.7% in the first quarter. Wesbanco Bank Inc. now owns 103,877 shares of the CRM provider's stock worth $27,876,000 after purchasing an additional 7,467 shares in the last quarter. Cherrydale Wealth Management LLC lifted its position in shares of Salesforce by 10.2% in the first quarter. Cherrydale Wealth Management LLC now owns 747 shares of the CRM provider's stock worth $200,000 after buying an additional 69 shares during the last quarter. Abacus Planning Group Inc. boosted its stake in shares of Salesforce by 21.6% during the 1st quarter. Abacus Planning Group Inc. now owns 1,274 shares of the CRM provider's stock worth $342,000 after acquiring an additional 226 shares in the last quarter. Capital Investment Advisors LLC increased its holdings in shares of Salesforce by 4.1% during the 1st quarter. Capital Investment Advisors LLC now owns 7,020 shares of the CRM provider's stock valued at $1,884,000 after acquiring an additional 275 shares during the last quarter. Finally, Central Bank & Trust Co. raised its stake in shares of Salesforce by 3.3% in the 1st quarter. Central Bank & Trust Co. now owns 6,535 shares of the CRM provider's stock valued at $1,754,000 after acquiring an additional 207 shares in the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Salesforce

In other Salesforce news, insider Miguel Milano sold 705 shares of the company's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $279.44, for a total transaction of $197,005.20. Following the completion of the sale, the insider now owns 9,323 shares in the company, valued at approximately $2,605,219.12. The trade was a 7.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction on Monday, March 17th. The stock was sold at an average price of $277.37, for a total value of $1,725,518.77. Following the sale, the chief financial officer now directly owns 46,750 shares of the company's stock, valued at approximately $12,967,047.50. This trade represents a 11.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 40,332 shares of company stock worth $11,024,802 over the last 90 days. Insiders own 3.20% of the company's stock.

Salesforce Price Performance

Shares of Salesforce stock traded down $4.06 during mid-day trading on Tuesday, reaching $268.19. 6,304,629 shares of the stock were exchanged, compared to its average volume of 6,585,445. Salesforce, Inc. has a fifty-two week low of $227.77 and a fifty-two week high of $369.00. The company has a market cap of $256.39 billion, a price-to-earnings ratio of 44.11, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. The firm has a 50-day simple moving average of $266.57 and a 200 day simple moving average of $301.70. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM - Get Free Report) last issued its quarterly earnings data 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 net margin of 15.96% and a return on equity of 12.34%. The firm had revenue of $9.83 billion for the quarter, compared to analysts' expectations of $9.74 billion. During the same period in the prior year, the firm earned $2.44 earnings per share. The company's quarterly revenue was up 7.6% compared to the same quarter last year. On average, sell-side analysts predict that Salesforce, Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th will be given a dividend of $0.416 per share. The ex-dividend date is Wednesday, June 18th. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.62%. Salesforce's payout ratio is 25.98%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CRM. Wells Fargo & Company increased their price target on Salesforce from $255.00 to $275.00 and gave the company an "equal weight" rating in a report on Thursday, May 29th. Sanford C. Bernstein upped their price objective on shares of Salesforce from $243.00 to $255.00 and gave the stock an "underperform" rating in a report on Thursday, May 29th. Bank of America lowered their target price on shares of Salesforce from $440.00 to $400.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Canaccord Genuity Group dropped their target price on shares of Salesforce from $400.00 to $350.00 and set a "buy" rating on the stock in a report on Wednesday, May 28th. Finally, Needham & Company LLC restated a "buy" rating and set a $400.00 price target on shares of Salesforce in a report on Wednesday, May 28th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-seven have given a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $346.34.

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.