Telos Capital Management Inc. Purchases Shares of 2,468 Salesforce, Inc. (NYSE:CRM)

Telos Capital Management Inc. purchased a new stake in Salesforce, Inc. (NYSE:CRM) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 2,468 shares of the CRM provider’s stock, valued at approximately $649,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CRM. Fairfield Bush & CO. grew its holdings in Salesforce by 8.7% in the 1st quarter. Fairfield Bush & CO. now owns 4,468 shares of the CRM provider’s stock valued at $949,000 after buying an additional 357 shares during the period. Roundview Capital LLC lifted its stake in shares of Salesforce by 18.8% in the 1st quarter. Roundview Capital LLC now owns 24,037 shares of the CRM provider’s stock valued at $5,104,000 after purchasing an additional 3,809 shares in the last quarter. Covestor Ltd increased its position in Salesforce by 42.8% during the 1st quarter. Covestor Ltd now owns 621 shares of the CRM provider’s stock worth $132,000 after purchasing an additional 186 shares in the last quarter. Ergoteles LLC acquired a new stake in Salesforce during the 1st quarter worth approximately $455,000. Finally, Mackenzie Financial Corp increased its position in Salesforce by 21.3% during the 1st quarter. Mackenzie Financial Corp now owns 860,950 shares of the CRM provider’s stock worth $182,797,000 after purchasing an additional 151,440 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Activity

In related news, COO Brian Millham sold 293,965 shares of the firm’s stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $280.00, for a total transaction of $82,310,200.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, COO Brian Millham sold 293,965 shares of the stock in a transaction on Friday, January 19th. The stock was sold at an average price of $280.00, for a total value of $82,310,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Amy E. Weaver sold 5,864 shares of the stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $274.77, for a total value of $1,611,251.28. Following the completion of the transaction, the chief financial officer now owns 45,231 shares of the company’s stock, valued at approximately $12,428,121.87. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 907,149 shares of company stock valued at $262,952,448. Company insiders own 3.70% of the company’s stock.

Analysts Set New Price Targets

CRM has been the subject of a number of research analyst reports. TheStreet raised shares of Salesforce from a “c+” rating to a “b-” rating in a research report on Friday, January 19th. Bank of America increased their target price on shares of Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Truist Financial reissued a “buy” rating and set a $360.00 target price (up previously from $275.00) on shares of Salesforce in a research report on Thursday, February 29th. Stifel Nicolaus reissued a “buy” rating and set a $350.00 target price on shares of Salesforce in a research report on Wednesday, April 3rd. Finally, JPMorgan Chase & Co. upped their price target on Salesforce from $260.00 to $310.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. Nine analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has 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 price target of $307.87.

Salesforce Price Performance

Shares of NYSE CRM opened at $276.33 on Thursday. Salesforce, Inc. has a 1-year low of $190.57 and a 1-year high of $318.71. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The business’s fifty day moving average price is $298.10 and its two-hundred day moving average price is $260.89. The firm has a market capitalization of $268.04 billion, a PE ratio of 65.79, a P/E/G ratio of 2.13 and a beta of 1.28.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.06. The company had revenue of $9.29 billion for the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period last year, the company earned $1.01 earnings per share. On average, research analysts expect that Salesforce, Inc. will post 7.45 EPS for the current year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date of this dividend was Wednesday, March 13th. Salesforce’s dividend payout ratio (DPR) is 9.52%.

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.