Vestor Capital LLC Cuts Position in Salesforce Inc. (NYSE:CRM)

Vestor Capital LLC trimmed its position in Salesforce Inc. (NYSE:CRM - Free Report) by 98.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 771 shares of the CRM provider's stock after selling 41,617 shares during the quarter. Vestor Capital LLC's holdings in Salesforce were worth $207,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Bernard Wealth Management Corp. purchased a new stake in shares of Salesforce during the 4th quarter valued at about $25,000. Accredited Wealth Management LLC purchased a new stake in shares of Salesforce during the 4th quarter valued at about $27,000. Capital A Wealth Management LLC raised its holdings in shares of Salesforce by 450.0% during the 1st quarter. Capital A Wealth Management LLC now owns 110 shares of the CRM provider's stock valued at $30,000 after buying an additional 90 shares during the period. CBIZ Investment Advisory Services LLC raised its holdings 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 valued at $30,000 after buying an additional 85 shares during the period. Finally, Abound Financial LLC purchased a new stake in shares of Salesforce during the 1st quarter valued at about $31,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CRM has been the topic of several analyst reports. Westpark Capital reiterated a "buy" rating and set a $320.00 target price on shares of Salesforce in a report on Wednesday, May 28th. Canaccord Genuity Group lowered their price objective on Salesforce from $400.00 to $350.00 and set a "buy" rating for the company in a research note on Wednesday, May 28th. Stephens decreased their target price on Salesforce from $311.00 to $309.00 and set an "equal weight" rating for the company in a research report on Friday, May 30th. Northland Securities decreased their target price on Salesforce from $423.00 to $396.00 and set an "outperform" rating for the company in a research report on Thursday, May 29th. Finally, The Goldman Sachs Group lifted their target price on Salesforce from $340.00 to $385.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. Three analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-seven have assigned a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, Salesforce presently has a consensus rating of "Moderate Buy" and an average target price of $348.16.

Insiders Place Their Bets

In other news, CEO Marc Benioff sold 2,250 shares of the business's stock in a transaction on Monday, July 21st. The stock was sold at an average price of $262.93, for a total transaction of $591,592.50. Following the sale, the chief executive officer directly owned 11,911,571 shares of the company's stock, valued at $3,131,909,363.03. The trade was a 0.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Miguel Milano sold 405 shares of the business's stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $262.35, for a total value of $106,251.75. Following the sale, the insider directly owned 9,933 shares in the company, valued at $2,605,922.55. This trade represents a 3.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 31,229 shares of company stock worth $8,492,036 over the last ninety days. 3.20% of the stock is owned by insiders.

Salesforce Stock Up 0.6%

CRM opened at $263.80 on Wednesday. Salesforce Inc. has a one year low of $230.00 and a one year high of $369.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.07 and a current ratio of 1.07. The stock's fifty day moving average is $270.45 and its 200-day moving average is $285.85. The company has a market capitalization of $252.19 billion, a PE ratio of 41.28, a P/E/G ratio of 2.38 and a beta of 1.36.

Salesforce (NYSE:CRM - Get Free Report) last posted its quarterly earnings data on Wednesday, May 28th. The CRM provider reported $2.58 EPS for the quarter, topping analysts' consensus estimates of $2.55 by $0.03. Salesforce had a return on equity of 12.94% and a net margin of 16.08%. The company had revenue of $9.83 billion for the quarter, compared to the consensus estimate of $9.74 billion. During the same quarter in the previous year, the business earned $2.44 EPS. The company's quarterly revenue was up 7.6% compared to the same quarter last year. On average, equities 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 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 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date was Wednesday, June 18th. Salesforce's dividend payout ratio (DPR) is presently 25.98%.

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.

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