Salesforce, Inc. (NYSE:CRM) Stake Raised by Delta Investment Management LLC

Delta Investment Management LLC grew its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 1.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,019 shares of the CRM provider’s stock after buying an additional 170 shares during the period. Salesforce accounts for about 0.7% of Delta Investment Management LLC’s investment portfolio, making the stock its 27th biggest holding. Delta Investment Management LLC’s holdings in Salesforce were worth $2,636,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CRM. Citizens Financial Group Inc. RI increased its holdings in shares of Salesforce by 51.0% in the fourth quarter. Citizens Financial Group Inc. RI now owns 4,513 shares of the CRM provider’s stock valued at $1,188,000 after buying an additional 1,524 shares in the last quarter. Sonen Capital LLC increased its holdings in shares of Salesforce by 13.7% in the fourth quarter. Sonen Capital LLC now owns 2,636 shares of the CRM provider’s stock valued at $694,000 after buying an additional 317 shares in the last quarter. Spinnaker Trust increased its holdings in shares of Salesforce by 3.7% in the fourth quarter. Spinnaker Trust now owns 29,707 shares of the CRM provider’s stock valued at $7,817,000 after buying an additional 1,054 shares in the last quarter. Kovack Advisors Inc. increased its holdings in shares of Salesforce by 2.3% in the fourth quarter. Kovack Advisors Inc. now owns 11,815 shares of the CRM provider’s stock valued at $3,109,000 after buying an additional 271 shares in the last quarter. Finally, Callan Capital LLC increased its holdings in shares of Salesforce by 15.2% in the fourth quarter. Callan Capital LLC now owns 1,582 shares of the CRM provider’s stock valued at $416,000 after buying an additional 209 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Up 0.4 %

Salesforce stock opened at $274.29 on Friday. Salesforce, Inc. has a 1-year low of $190.76 and a 1-year high of $318.71. The firm has a market capitalization of $266.06 billion, a price-to-earnings ratio of 65.31, a price-to-earnings-growth ratio of 2.11 and a beta of 1.28. The firm’s fifty day moving average price is $295.97 and its two-hundred day moving average price is $264.30. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14.

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

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were issued a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.60 annualized dividend and a dividend yield of 0.58%. Salesforce’s dividend payout ratio is currently 9.52%.

Wall Street Analyst Weigh In

CRM has been the topic of several research analyst reports. Robert W. Baird lifted their price objective on shares of Salesforce from $310.00 to $355.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Citigroup lifted their price objective on shares of Salesforce from $265.00 to $325.00 and gave the stock a “neutral” rating in a research report on Monday, February 26th. Wells Fargo & Company lifted their price objective on shares of Salesforce from $280.00 to $290.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 21st. JMP Securities reiterated a “market outperform” rating and set a $342.00 price objective on shares of Salesforce in a research report on Monday, April 15th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $350.00 price objective (up from $325.00) on shares of Salesforce in a research report on Friday, April 12th. Nine research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $310.61.

Insider Activity

In other news, insider Srinivas Tallapragada sold 10,000 shares of the stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $283.12, for a total value of $2,831,200.00. Following the completion of the sale, the insider now owns 60,416 shares in the company, valued at $17,104,977.92. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $285.05, for a total value of $4,275,750.00. Following the completion of the sale, the chief executive officer now directly owns 13,656,166 shares in the company, valued at approximately $3,892,690,118.30. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Srinivas Tallapragada sold 10,000 shares of Salesforce stock in a transaction on Monday, January 29th. The stock was sold at an average price of $283.12, for a total transaction of $2,831,200.00. Following the completion of the transaction, the insider now directly owns 60,416 shares in the company, valued at $17,104,977.92. The disclosure for this sale can be found here. Insiders sold a total of 620,793 shares of company stock worth $182,177,918 over the last quarter. Insiders own 3.70% of the company’s stock.

Salesforce Company 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.