McIlrath & Eck LLC Grows Position in Salesforce, Inc. (NYSE:CRM)

McIlrath & Eck LLC grew its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 62.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 443 shares of the CRM provider’s stock after purchasing an additional 171 shares during the quarter. McIlrath & Eck LLC’s holdings in Salesforce were worth $148,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Bernard Wealth Management Corp. purchased a new stake in shares of Salesforce during the fourth quarter worth $25,000. Accredited Wealth Management LLC bought a new stake in shares of Salesforce during the 4th quarter valued at $27,000. Arlington Trust Co LLC boosted its stake in Salesforce by 85.1% in the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after purchasing an additional 40 shares during the period. Compass Financial Services Inc purchased a new position in Salesforce during the 4th quarter valued at about $30,000. Finally, Asset Planning Inc purchased a new stake in shares of Salesforce in the fourth quarter worth about $31,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling at Salesforce

In related news, insider Srinivas Tallapragada sold 6,697 shares of the company’s stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $295.00, for a total value of $1,975,615.00. Following the transaction, the insider now owns 41,422 shares in the company, valued at $12,219,490. The trade was a 13.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider R David Schmaier sold 6,959 shares of the firm’s stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total transaction 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. This represents a 16.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 46,306 shares of company stock valued at $12,841,368. Corporate insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

Shares of CRM stock opened at $287.64 on Wednesday. The company’s fifty day moving average price is $268.48 and its 200-day moving average price is $307.02. The stock has a market cap of $276.53 billion, a PE ratio of 47.31, a price-to-earnings-growth ratio of 2.58 and a beta of 1.42. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00.

Salesforce Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend was Thursday, April 10th. This is a boost from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s dividend payout ratio is 26.10%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CRM. Wells Fargo & Company lowered their target price on shares of Salesforce from $310.00 to $255.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 22nd. Westpark Capital reiterated a “buy” rating and issued a $320.00 price objective on shares of Salesforce in a research report on Wednesday, April 30th. Canaccord Genuity Group reduced their target price on Salesforce from $415.00 to $400.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Loop Capital lowered their price target on Salesforce from $330.00 to $300.00 and set a “hold” rating on the stock in a report on Thursday, February 27th. Finally, Mizuho cut their price objective on Salesforce from $425.00 to $380.00 and set an “outperform” rating for the company in a report on Thursday, May 15th. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have assigned a buy rating and five have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $352.62.

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.