Vickerman Investment Advisors Inc. Buys 1,472 Shares of Salesforce Inc. (NYSE:CRM)

Vickerman Investment Advisors Inc. lifted its holdings in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 10.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,020 shares of the CRM provider's stock after purchasing an additional 1,472 shares during the quarter. Salesforce makes up about 0.9% of Vickerman Investment Advisors Inc.'s holdings, making the stock its 26th biggest position. Vickerman Investment Advisors Inc.'s holdings in Salesforce were worth $4,031,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Salesforce during the 4th quarter valued at about $3,599,867,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in Salesforce by 926.4% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,256,211 shares of the CRM provider's stock valued at $1,422,979,000 after purchasing an additional 3,841,521 shares during the last quarter. GAMMA Investing LLC grew its stake in Salesforce by 30,456.9% in the 1st quarter. GAMMA Investing LLC now owns 3,801,588 shares of the CRM provider's stock valued at $1,020,194,000 after buying an additional 3,789,147 shares during the last quarter. Invesco Ltd. grew its stake in Salesforce by 42.5% in the 4th quarter. Invesco Ltd. now owns 7,791,015 shares of the CRM provider's stock valued at $2,604,770,000 after buying an additional 2,325,156 shares during the last quarter. Finally, Northern Trust Corp grew its stake in Salesforce by 18.3% in the 4th quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider's stock valued at $3,752,830,000 after buying an additional 1,736,667 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company's stock.

Insider Buying and Selling

In related news, insider Srinivas Tallapragada sold 1,269 shares of the company's stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $262.35, for a total value of $332,922.15. Following the completion of the sale, the insider owned 42,678 shares in the company, valued at $11,196,573.30. This represents a 2.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Miguel Milano sold 405 shares of the company's stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $262.35, for a total transaction of $106,251.75. Following the completion of the sale, the insider owned 9,933 shares of the company's stock, valued at approximately $2,605,922.55. This represents a 3.92% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,784 shares of company stock worth $8,223,890 over the last quarter. Insiders own 3.20% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CRM shares. Erste Group Bank downgraded Salesforce from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. The Goldman Sachs Group raised 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. Westpark Capital restated a "buy" rating and issued a $320.00 price objective on shares of Salesforce in a research note on Wednesday, May 28th. Piper Sandler raised their price target on shares of Salesforce from $315.00 to $335.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 28th. Finally, Wells Fargo & Company raised their price target on shares of Salesforce from $255.00 to $275.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 29th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-eight have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $349.08.

Salesforce Trading Down 0.9%

Salesforce stock traded down $2.41 during trading hours on Monday, reaching $269.74. 6,249,121 shares of the company's stock traded hands, compared to its average volume of 6,542,885. The firm's 50 day moving average is $272.28 and its 200-day moving average is $291.15. Salesforce Inc. has a fifty-two week low of $230.00 and a fifty-two week high of $369.00. The firm has a market capitalization of $257.87 billion, a price-to-earnings ratio of 42.21, a PEG ratio of 2.47 and a beta of 1.36. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.07 and a current ratio of 1.07.

Salesforce (NYSE:CRM - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $9.83 billion for the quarter, compared to analyst estimates of $9.74 billion. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. Salesforce's revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.44 earnings per share. On average, analysts predict that Salesforce Inc. will post 7.46 earnings per share for the current 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 paid a $0.416 dividend. The ex-dividend date is Wednesday, June 18th. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.62%. Salesforce's dividend payout ratio (DPR) is presently 25.98%.

Salesforce 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.