Salesforce, Inc. (NYSE:CRM) Shares Acquired by Vest Financial LLC

Vest Financial LLC grew its holdings in Salesforce, Inc. (NYSE:CRM - Free Report) by 1,703.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 109,738 shares of the CRM provider's stock after buying an additional 103,654 shares during the period. Vest Financial LLC's holdings in Salesforce were worth $29,449,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. OMC Financial Services LTD grew its holdings in shares of Salesforce by 0.3% during the fourth quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider's stock worth $3,808,000 after buying an additional 31 shares in the last quarter. Capital Advisors Ltd. LLC boosted its position in Salesforce by 4.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider's stock worth $263,000 after acquiring an additional 31 shares during the last quarter. Prossimo Advisors LLC grew its stake in Salesforce by 1.0% in 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 during the period. Mainstream Capital Management LLC raised its holdings in Salesforce by 0.5% in the 4th quarter. Mainstream Capital Management LLC now owns 6,409 shares of the CRM provider's stock valued at $2,143,000 after acquiring an additional 33 shares during the last quarter. Finally, Warren Street Wealth Advisors LLC lifted its stake in shares of Salesforce by 3.9% during the 4th quarter. Warren Street Wealth Advisors LLC now owns 896 shares of the CRM provider's stock worth $300,000 after purchasing an additional 34 shares during the period. 80.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Mizuho decreased their price target on Salesforce from $425.00 to $380.00 and set an "outperform" rating on the stock in a research note on Thursday, May 15th. Barclays decreased their target price on shares of Salesforce from $425.00 to $347.00 and set an "overweight" rating on the stock in a research report on Thursday, May 29th. Westpark Capital restated a "buy" rating and issued a $320.00 target price on shares of Salesforce in a report on Wednesday, May 28th. Northland Securities cut their price target on shares of Salesforce from $423.00 to $396.00 and set an "outperform" rating on the stock in a research note on Thursday, May 29th. Finally, Citigroup decreased their price target on shares of Salesforce from $320.00 to $295.00 and set a "neutral" rating on the stock in a report on Friday, May 30th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-seven have assigned a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $346.34.

Insider Buying and Selling

In other news, insider R David Schmaier sold 6,959 shares of the business's stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total value of $1,762,784.29. Following the sale, the insider now owns 36,090 shares of the company's stock, valued at approximately $9,141,957.90. The trade was a 16.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Sundeep G. Reddy sold 1,256 shares of Salesforce stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total value of $318,157.36. Following the transaction, the chief accounting officer now directly owns 12,826 shares in the company, valued at approximately $3,248,954.06. The trade was a 8.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 40,332 shares of company stock valued at $11,024,802 over the last 90 days. 3.20% of the stock is currently owned by company insiders.

Salesforce Stock Performance

CRM traded down $2.15 during trading on Monday, reaching $272.36. 5,725,209 shares of the company were exchanged, compared to its average volume of 6,586,570. Salesforce, Inc. has a 52 week low of $227.77 and a 52 week high of $369.00. 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 has a 50 day moving average of $266.57 and a 200 day moving average of $302.19. The stock has a market cap of $260.38 billion, a P/E ratio of 44.80, a PEG ratio of 2.58 and a beta of 1.38.

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

Salesforce Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 18th will be paid a dividend of $0.416 per share. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date of this dividend is Wednesday, June 18th. Salesforce's dividend payout ratio is currently 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.