TrueWealth Advisors LLC Invests $459,000 in Salesforce, Inc. (NYSE:CRM)

TrueWealth Advisors LLC purchased a new stake in shares of Salesforce, Inc. (NYSE:CRM - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,710 shares of the CRM provider's stock, valued at approximately $459,000.

Several other institutional investors and hedge funds have also made changes to their positions in CRM. Geode Capital Management LLC lifted its position in Salesforce by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 19,955,353 shares of the CRM provider's stock worth $6,656,078,000 after acquiring an additional 175,035 shares during the period. Fisher Asset Management LLC raised its stake in shares of Salesforce by 1.4% in the fourth quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider's stock worth $4,163,703,000 after purchasing an additional 177,321 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Salesforce by 18.3% during the fourth quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider's stock worth $3,752,830,000 after purchasing an additional 1,736,667 shares during the period. Norges Bank acquired a new position in Salesforce in the 4th quarter worth approximately $3,599,867,000. Finally, Price T Rowe Associates Inc. MD raised its position in Salesforce by 23.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,938,536 shares of the CRM provider's stock worth $2,988,422,000 after buying an additional 1,683,233 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Price Performance

Shares of Salesforce stock traded up $3.64 during trading hours on Thursday, reaching $266.81. 8,638,662 shares of the company's stock were exchanged, compared to its average volume of 6,624,510. The business has a fifty day moving average of $266.51 and a two-hundred day moving average of $303.30. The company has a market capitalization of $255.07 billion, a P/E ratio of 43.88, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. 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 released its quarterly earnings data on Wednesday, May 28th. The CRM provider reported $2.58 EPS for the quarter, beating analysts' consensus estimates of $2.55 by $0.03. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The company had revenue of $9.83 billion during the quarter, compared to the consensus estimate of $9.74 billion. During the same quarter in the prior year, the firm earned $2.44 EPS. Salesforce's quarterly revenue was up 7.6% on a year-over-year basis. As a group, research analysts predict that Salesforce, Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were given a dividend of $0.42 per share. This is a boost from Salesforce's previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend was Thursday, April 10th. Salesforce's dividend payout ratio (DPR) is presently 25.98%.

Insider Buying and Selling at Salesforce

In related news, insider Srinivas Tallapragada sold 6,697 shares of the stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $295.00, for a total transaction of $1,975,615.00. Following the completion of the transaction, the insider now owns 41,422 shares of the company's stock, valued at approximately $12,219,490. This trade represents a 13.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Sundeep G. Reddy sold 1,909 shares of the business's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $284.58, for a total value of $543,263.22. Following the completion of the sale, the chief accounting officer now directly owns 11,310 shares in the company, valued at approximately $3,218,599.80. The trade was a 14.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 40,332 shares of company stock worth $11,024,802 in the last ninety days. 3.20% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Cantor Fitzgerald assumed coverage on shares of Salesforce in a report on Tuesday. They issued an "overweight" rating and a $325.00 price objective on the stock. Redburn Atlantic assumed coverage on shares of Salesforce in a report on Wednesday, February 19th. They issued a "buy" rating on the stock. Erste Group Bank lowered Salesforce from a "buy" rating to a "hold" rating in a research note on Thursday. Canaccord Genuity Group lowered their target price on Salesforce from $400.00 to $350.00 and set a "buy" rating on the stock in a research note on Wednesday, May 28th. Finally, Citigroup reduced their price target on Salesforce from $320.00 to $295.00 and set a "neutral" rating for the company in a research report on Friday, May 30th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-seven have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $346.34.

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.