Triumph Capital Management Grows Holdings in Salesforce Inc. (NYSE:CRM)

Triumph Capital Management boosted its holdings in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 88.2% in the first quarter, according to its most recent filing with the SEC. The firm owned 3,697 shares of the CRM provider's stock after acquiring an additional 1,733 shares during the period. Triumph Capital Management's holdings in Salesforce were worth $992,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Bernard Wealth Management Corp. bought a new stake in Salesforce in the 4th quarter valued at $25,000. Accredited Wealth Management LLC bought a new stake in Salesforce during the 4th quarter worth about $27,000. Capital A Wealth Management LLC lifted its position in Salesforce by 450.0% during the 1st quarter. Capital A Wealth Management LLC now owns 110 shares of the CRM provider's stock worth $30,000 after buying an additional 90 shares in the last quarter. CBIZ Investment Advisory Services LLC increased its stake in shares of Salesforce by 314.8% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 112 shares of the CRM provider's stock worth $30,000 after purchasing an additional 85 shares during the last quarter. Finally, Abound Financial LLC acquired a new position in shares of Salesforce during the 1st quarter worth about $31,000. Institutional investors and hedge funds own 80.43% of the company's stock.

Salesforce Trading Up 0.5%

NYSE CRM traded up $1.41 during mid-day trading on Friday, reaching $269.11. 4,013,320 shares of the stock were exchanged, compared to its average volume of 6,704,325. Salesforce Inc. has a one year low of $230.00 and a one year high of $369.00. The stock has a 50 day simple moving average of $268.07 and a 200-day simple moving average of $284.27. The stock has a market cap of $257.27 billion, a P/E ratio of 42.11, a P/E/G ratio of 2.43 and a beta of 1.36. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.07 and a quick ratio of 1.07.

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, beating the consensus estimate of $2.55 by $0.03. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. The firm had revenue of $9.83 billion during the quarter, compared to the consensus estimate of $9.74 billion. During the same period in the previous year, the firm posted $2.44 earnings per share. The business's revenue was up 7.6% compared to the same quarter last year. On average, analysts anticipate that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Cuts Dividend

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

Wall Street Analyst Weigh In

CRM has been the topic of several recent analyst reports. The Goldman Sachs Group boosted their price objective on shares of Salesforce from $340.00 to $385.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Guggenheim upgraded shares of Salesforce from a "sell" rating to a "neutral" rating in a research note on Monday, April 21st. JMP Securities reiterated a "market outperform" rating and issued a $430.00 price target on shares of Salesforce in a research note on Friday, July 11th. Canaccord Genuity Group decreased their price target on shares of Salesforce from $400.00 to $350.00 and set a "buy" rating on the stock in a research note on Wednesday, May 28th. Finally, Stephens decreased their price target on shares of Salesforce from $311.00 to $309.00 and set an "equal weight" rating on the stock in a research note on Friday, May 30th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-seven have given a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat.com, Salesforce currently has an average rating of "Moderate Buy" and a consensus price target of $348.16.

Insider Activity at Salesforce

In other news, CEO Marc Benioff sold 2,250 shares of the business's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $266.56, for a total transaction of $599,760.00. Following the completion of the sale, the chief executive officer directly owned 11,911,571 shares of the company's stock, valued at $3,175,148,365.76. The trade was a 0.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold 33,479 shares of company stock worth $9,091,796 over the last ninety days. 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.