UMB Bank n.a. Buys 7,546 Shares of Salesforce, Inc. (NYSE:CRM)

UMB Bank n.a. increased its holdings in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 8.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 95,078 shares of the CRM provider's stock after purchasing an additional 7,546 shares during the period. UMB Bank n.a.'s holdings in Salesforce were worth $25,515,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. Bernard Wealth Management Corp. purchased a new stake in Salesforce in the fourth quarter valued at approximately $25,000. Accredited Wealth Management LLC acquired a new stake in Salesforce in the 4th quarter worth about $27,000. Arlington Trust Co LLC lifted its holdings in Salesforce by 85.1% in the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock valued at $29,000 after purchasing an additional 40 shares in the last quarter. Compass Financial Services Inc acquired a new position in Salesforce during the fourth quarter worth about $30,000. Finally, Asset Planning Inc purchased a new stake in Salesforce in the 4th quarter valued at $31,000. 80.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on CRM shares. Morgan Stanley reissued an "overweight" rating and set a $404.00 price objective (up from $393.00) on shares of Salesforce in a research report on Thursday, May 29th. Citigroup lowered their price objective on Salesforce from $320.00 to $295.00 and set a "neutral" rating for the company in a research report on Friday, May 30th. Westpark Capital reaffirmed a "buy" rating and set a $320.00 price target on shares of Salesforce in a research report on Wednesday, May 28th. Loop Capital dropped their price target on Salesforce from $330.00 to $300.00 and set a "hold" rating on the stock in a research report on Thursday, February 27th. Finally, Guggenheim raised shares of Salesforce from a "sell" rating to a "neutral" rating in a report on Monday, April 21st. 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 given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Salesforce presently has an average rating of "Moderate Buy" and an average target price of $346.34.

Insider Buying and Selling

In related news, insider Miguel Milano sold 705 shares of the firm'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 transaction, the insider now directly owns 9,323 shares of the company's stock, valued at approximately $2,605,219.12. This trade represents a 7.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction dated 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 completion of the sale, the chief financial officer now directly owns 46,750 shares in the company, valued at $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 in the last quarter. Corporate insiders own 3.20% of the company's stock.

Salesforce Stock Performance

Shares of CRM stock traded down $2.15 on Monday, hitting $272.36. 5,725,209 shares of the stock were exchanged, compared to its average volume of 6,586,570. The firm has a market capitalization of $260.38 billion, a PE ratio of 44.80, a P/E/G ratio of 2.58 and a beta of 1.38. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm's 50 day moving average is $266.57 and its two-hundred day moving average is $302.19. Salesforce, Inc. has a one year low of $227.77 and a one year high of $369.00.

Salesforce (NYSE:CRM - Get Free Report) last released 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. The firm had revenue of $9.83 billion for the quarter, compared to analysts' expectations of $9.74 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company's revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.44 EPS. Sell-side analysts expect that Salesforce, Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Cuts Dividend

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

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.