Wright Investors Service Inc. Grows Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Wright Investors Service Inc. grew its position in Salesforce, Inc. (NYSE:CRM - Free Report) by 43.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 14,790 shares of the CRM provider's stock after acquiring an additional 4,461 shares during the period. Salesforce accounts for approximately 1.3% of Wright Investors Service Inc.'s investment portfolio, making the stock its 23rd biggest position. Wright Investors Service Inc.'s holdings in Salesforce were worth $3,969,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in CRM. Bernard Wealth Management Corp. acquired a new position in Salesforce in the fourth quarter valued at $25,000. Accredited Wealth Management LLC bought a new position in shares of Salesforce in the 4th quarter worth about $27,000. Arlington Trust Co LLC lifted its stake in shares of 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 during the period. Compass Financial Services Inc bought a new stake in shares of Salesforce during the 4th quarter valued at about $30,000. Finally, Asset Planning Inc acquired a new stake in Salesforce during the fourth quarter worth approximately $31,000. 80.43% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Srinivas Tallapragada sold 6,697 shares of the company's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $295.00, for a total transaction of $1,975,615.00. Following the completion of the sale, the insider now owns 41,422 shares in the company, valued at approximately $12,219,490. This represents a 13.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the company's stock in a transaction on 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 owns 46,750 shares of the company's stock, 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. Over the last ninety days, insiders sold 40,332 shares of company stock worth $11,024,802. Insiders own 3.20% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. DA Davidson reiterated an "underperform" rating and set a $200.00 target price on shares of Salesforce in a research report on Wednesday, May 28th. BMO Capital Markets decreased their price objective on Salesforce from $367.00 to $350.00 and set an "outperform" rating for the company in a report on Tuesday, May 27th. UBS Group cut their price target on shares of Salesforce from $320.00 to $300.00 and set a "neutral" rating on the stock in a report on Tuesday, May 27th. Guggenheim raised Salesforce from a "sell" rating to a "neutral" rating in a report on Monday, April 21st. Finally, Jefferies Financial Group dropped their price target on shares of Salesforce from $425.00 to $375.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-eight have assigned a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $346.34.

Salesforce Stock Down 0.5%

CRM traded down $1.34 on Wednesday, hitting $263.13. The company had a trading volume of 3,836,416 shares, compared to its average volume of 7,052,675. The firm has a market capitalization of $251.55 billion, a P/E ratio of 43.28, a P/E/G ratio of 2.58 and a beta of 1.38. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a fifty day simple moving average of $266.65 and a 200-day simple moving average of $303.58. Salesforce, Inc. has a 52-week low of $227.77 and a 52-week high of $369.00.

Salesforce (NYSE:CRM - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The CRM provider reported $2.58 EPS for the quarter, beating the consensus estimate of $2.55 by $0.03. The business had revenue of $9.83 billion during the quarter, compared to analyst estimates of $9.74 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company's revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.44 earnings per share. As a group, equities analysts expect that Salesforce, Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were paid a dividend of $0.42 per share. This is an increase from Salesforce's previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.64%. Salesforce's dividend payout ratio (DPR) is currently 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.