Salesforce, Inc. (NYSE:CRM) Stock Position Raised by Princeton Global Asset Management LLC

Princeton Global Asset Management LLC grew its position in shares of Salesforce, Inc. (NYSE:CRM) by 4.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,604 shares of the CRM provider’s stock after buying an additional 255 shares during the quarter. Princeton Global Asset Management LLC’s holdings in Salesforce were worth $1,772,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Salesforce Trading Up 2.7%

NYSE CRM opened at $274.48 on Friday. Salesforce, Inc. has a one year low of $227.77 and a one year high of $369.00. 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 firm has a market cap of $262.40 billion, a P/E ratio of 45.14, a P/E/G ratio of 2.58 and a beta of 1.38. The stock’s 50-day moving average is $266.57 and its 200-day moving average is $302.58.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, May 28th. The CRM provider reported $2.58 EPS for the quarter, topping the consensus estimate of $2.55 by $0.03. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm had revenue of $9.83 billion for the quarter, compared to the consensus estimate of $9.74 billion. During the same period last year, the company posted $2.44 EPS. The business’s quarterly revenue was up 7.6% on a year-over-year basis. Sell-side analysts anticipate that Salesforce, Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 18th will be given a $0.416 dividend. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $1.66 annualized dividend and a yield of 0.61%. Salesforce’s dividend payout ratio is currently 25.98%.

Insider Activity at Salesforce

In other news, insider R David Schmaier sold 6,959 shares of the business’s stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total value of $1,762,784.29. Following the sale, the insider now directly owns 36,090 shares in the company, valued at $9,141,957.90. The trade was a 16.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Sundeep G. Reddy sold 1,256 shares of the stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total value of $318,157.36. Following the transaction, the chief accounting officer now owns 12,826 shares of the company’s stock, valued at approximately $3,248,954.06. The trade was a 8.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 40,332 shares of company stock valued at $11,024,802. 3.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on CRM. UBS Group decreased their price target on Salesforce from $320.00 to $300.00 and set a “neutral” rating for the company in a research note on Tuesday, May 27th. Oppenheimer reaffirmed an “outperform” rating and set a $370.00 target price (down previously from $380.00) on shares of Salesforce in a research report on Thursday, May 29th. Loop Capital dropped their price target on shares of Salesforce from $330.00 to $300.00 and set a “hold” rating on the stock in a research report on Thursday, February 27th. Macquarie restated a “neutral” rating and issued a $320.00 price objective on shares of Salesforce in a research note on Thursday, March 20th. Finally, Erste Group Bank downgraded shares of Salesforce from a “buy” rating to a “hold” rating in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-seven have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $346.34.

About Salesforce

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.