Blair William & Co. IL Lowers Holdings in Salesforce, Inc. (NYSE:CRM)

Blair William & Co. IL reduced its position in shares of Salesforce, Inc. (NYSE:CRM) by 3.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 779,666 shares of the CRM provider’s stock after selling 27,537 shares during the period. Blair William & Co. IL owned approximately 0.08% of Salesforce worth $200,452,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ruedi Wealth Management Inc. increased its stake in Salesforce by 186.7% in the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after acquiring an additional 56 shares during the last quarter. Piscataqua Savings Bank increased its position in shares of Salesforce by 2,400.0% in the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after purchasing an additional 96 shares during the last quarter. Red Tortoise LLC purchased a new stake in Salesforce in the first quarter valued at approximately $33,000. Clear Investment Research LLC lifted its position in Salesforce by 816.7% during the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after purchasing an additional 98 shares during the last quarter. Finally, Stephens Consulting LLC grew its stake in Salesforce by 3,125.0% in the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after buying an additional 125 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Stock Performance

NYSE:CRM opened at $255.32 on Wednesday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The firm’s fifty day simple moving average is $253.61 and its 200 day simple moving average is $267.11. The stock has a market cap of $247.41 billion, a P/E ratio of 45.92, a price-to-earnings-growth ratio of 2.26 and a beta of 1.29. Salesforce, Inc. has a twelve month low of $193.68 and a twelve month high of $318.71.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The firm had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same quarter in the previous year, the firm posted $1.63 EPS. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. As a group, research analysts predict that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.63%. The ex-dividend date is Wednesday, September 18th. Salesforce’s dividend payout ratio is currently 28.78%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Erste Group Bank restated a “hold” rating on shares of Salesforce in a research report on Wednesday, September 11th. Wedbush reaffirmed an “outperform” rating and set a $315.00 price target on shares of Salesforce in a research note on Thursday, August 29th. Phillip Securities reiterated an “accumulate” rating and issued a $305.00 price objective on shares of Salesforce in a report on Friday, August 30th. Royal Bank of Canada reissued an “outperform” rating and set a $300.00 price objective on shares of Salesforce in a report on Thursday, August 29th. Finally, Oppenheimer upped their target price on Salesforce from $280.00 to $300.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Nine investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $305.55.

Insider Transactions at Salesforce

In related news, insider Parker Harris sold 2,800 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $241.22, for a total value of $675,416.00. Following the sale, the insider now directly owns 117,581 shares of the company’s stock, valued at $28,362,888.82. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CFO Amy E. Weaver sold 897 shares of Salesforce stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total transaction of $229,434.66. Following the completion of the transaction, the chief financial officer now directly owns 51,109 shares of the company’s stock, valued at approximately $13,072,660.02. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Parker Harris sold 2,800 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $241.22, for a total transaction of $675,416.00. Following the completion of the sale, the insider now owns 117,581 shares in the company, valued at approximately $28,362,888.82. The disclosure for this sale can be found here. In the last quarter, insiders sold 62,376 shares of company stock valued at $15,878,005. Corporate insiders own 3.20% 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.