MV Capital Management Inc. Boosts Stake in Salesforce, Inc. (NYSE:CRM)

MV Capital Management Inc. lifted its holdings in Salesforce, Inc. (NYSE:CRM) by 710.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,470 shares of the CRM provider’s stock after buying an additional 7,425 shares during the quarter. MV Capital Management Inc.’s holdings in Salesforce were worth $2,551,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Bear Mountain Capital Inc. acquired a new position in Salesforce during the fourth quarter worth $26,000. Signature Resources Capital Management LLC acquired a new position in Salesforce during the fourth quarter worth $26,000. Kathleen S. Wright Associates Inc. acquired a new position in Salesforce during the fourth quarter worth $31,000. Pacifica Partners Inc. raised its holdings in Salesforce by 333.3% during the fourth quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 100 shares during the last quarter. Finally, BKM Wealth Management LLC acquired a new position in Salesforce during the fourth quarter worth $34,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Stock Down 0.0 %

Shares of NYSE CRM traded down $0.02 on Tuesday, hitting $256.19. The company had a trading volume of 5,099,595 shares, compared to its average volume of 6,962,241. Salesforce, Inc. has a 12-month low of $193.68 and a 12-month high of $318.71. The business has a 50 day moving average of $259.43 and a two-hundred day moving average of $276.46. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $248.25 billion, a P/E ratio of 46.13, a PEG ratio of 2.26 and a beta of 1.29.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Wednesday, May 29th. The CRM provider reported $2.44 EPS for the quarter, topping the consensus estimate of $2.38 by $0.06. Salesforce had a return on equity of 11.57% and a net margin of 15.30%. The business had revenue of $9.13 billion for the quarter, compared to analysts’ expectations of $9.15 billion. During the same quarter in the previous year, the firm posted $1.15 earnings per share. The company’s revenue was up 10.7% compared to the same quarter last year. As a group, equities research analysts forecast that Salesforce, Inc. will post 7.47 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Tuesday, July 9th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend is Tuesday, July 9th. Salesforce’s dividend payout ratio (DPR) is 7.19%.

Wall Street Analysts Forecast Growth

CRM has been the subject of a number of analyst reports. Evercore ISI cut their price target on Salesforce from $330.00 to $300.00 and set an “outperform” rating for the company in a report on Thursday, May 30th. Barclays cut their price target on Salesforce from $355.00 to $305.00 and set an “overweight” rating for the company in a report on Thursday, May 30th. Oppenheimer cut their price target on Salesforce from $325.00 to $280.00 and set an “outperform” rating for the company in a report on Thursday, May 30th. StockNews.com cut Salesforce from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 19th. Finally, Robert W. Baird cut their price target on Salesforce from $355.00 to $295.00 and set an “outperform” rating for the company in a report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $292.79.

Insider Buying and Selling

In other Salesforce news, COO Brian Millham sold 2,018 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $260.00, for a total transaction of $524,680.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $305.42, for a total transaction of $4,581,300.00. Following the completion of the transaction, the chief executive officer now directly owns 12,981,166 shares of the company’s stock, valued at approximately $3,964,707,719.72. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Brian Millham sold 2,018 shares of the stock in a transaction on Friday, June 28th. The shares were sold at an average price of $260.00, for a total value of $524,680.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 509,952 shares of company stock worth $139,786,753. 3.20% of the stock is currently owned by corporate insiders.

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.