Sivia Capital Partners LLC Raises Holdings in Salesforce, Inc. (NYSE:CRM)

Sivia Capital Partners LLC lifted its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 15.3% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 2,852 shares of the CRM provider’s stock after buying an additional 378 shares during the quarter. Sivia Capital Partners LLC’s holdings in Salesforce were worth $765,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in CRM. Bernard Wealth Management Corp. purchased a new stake in Salesforce in the 4th quarter valued at approximately $25,000. Accredited Wealth Management LLC purchased a new stake in Salesforce in the 4th quarter valued at approximately $27,000. Arlington Trust Co LLC boosted its holdings in 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 in the last quarter. Compass Financial Services Inc purchased a new stake in Salesforce in the 4th quarter valued at approximately $30,000. Finally, Asset Planning Inc purchased a new stake in Salesforce in the 4th quarter valued at approximately $31,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Stock Up 2.7%

CRM stock opened at $274.48 on Friday. The stock has a market capitalization of $262.40 billion, a P/E ratio of 45.14, a PEG ratio of 2.58 and a beta of 1.38. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. Salesforce, Inc. has a one year low of $227.77 and a one year high of $369.00. The company has a 50 day moving average price of $266.57 and a two-hundred day moving average price of $302.42.

Salesforce (NYSE:CRM) last released 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 during the quarter, compared to analysts’ expectations of $9.74 billion. During the same period in the previous year, the company earned $2.44 EPS. Salesforce’s revenue for the quarter was up 7.6% on a year-over-year basis. As a group, sell-side analysts expect that Salesforce, Inc. will post 7.46 EPS for the current year.

Salesforce Cuts Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Bank of America lowered their price objective on Salesforce from $440.00 to $400.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Cantor Fitzgerald assumed coverage on Salesforce in a report on Tuesday, June 3rd. They issued an “overweight” rating and a $325.00 price objective on the stock. Oppenheimer reaffirmed an “outperform” rating and issued a $370.00 price objective (down previously from $380.00) on shares of Salesforce in a report on Thursday, May 29th. Stifel Nicolaus reduced their price target on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Finally, Robert W. Baird lowered their price target on Salesforce from $430.00 to $400.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. 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, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $346.34.

Insider Activity

In related news, CAO Sundeep G. Reddy sold 500 shares of Salesforce stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $275.00, for a total transaction of $137,500.00. Following the transaction, the chief accounting officer now owns 11,711 shares in the company, valued at approximately $3,220,525. The trade was a 4.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction on Monday, March 17th. The shares were sold at an average price of $277.37, for a total transaction of $1,725,518.77. Following the transaction, the chief financial officer now owns 46,750 shares in the company, valued at $12,967,047.50. The trade was a 11.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold 40,332 shares of company stock valued at $11,024,802 in the last ninety days. Company insiders own 3.20% of the company’s stock.

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.