Bond & Devick Financial Network Inc. Has $1.11 Million Holdings in Salesforce, Inc. (NYSE:CRM)

Bond & Devick Financial Network Inc. lifted its holdings in Salesforce, Inc. (NYSE:CRM) by 6.7% in the 1st quarter, Holdings Channel reports. The firm owned 4,132 shares of the CRM provider’s stock after buying an additional 261 shares during the quarter. Bond & Devick Financial Network Inc.’s holdings in Salesforce were worth $1,109,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Tallon Kerry Patrick bought a new stake in Salesforce during the fourth quarter valued at about $236,000. Brighton Jones LLC boosted its holdings in Salesforce by 13.7% during the fourth quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider’s stock valued at $8,582,000 after acquiring an additional 3,102 shares during the period. Union Bancaire Privee UBP SA acquired a new position in shares of Salesforce during the fourth quarter valued at about $104,173,000. Revolve Wealth Partners LLC raised its position in shares of Salesforce by 12.6% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,827 shares of the CRM provider’s stock valued at $611,000 after buying an additional 205 shares during the last quarter. Finally, Crews Bank & Trust acquired a new position in shares of Salesforce during the fourth quarter valued at about $91,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Price Performance

CRM opened at $265.03 on Friday. The company has a fifty day moving average price of $267.31 and a two-hundred day moving average price of $304.49. 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 52 week low of $227.77 and a 52 week high of $369.00. The firm has a market capitalization of $254.80 billion, a PE ratio of 43.59, a P/E/G ratio of 2.58 and a beta of 1.42.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, May 28th. The CRM provider reported $2.58 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $9.74 billion. During the same quarter in the previous year, the business earned $2.44 EPS. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. As a group, analysts anticipate that Salesforce, Inc. will post 7.46 earnings per share for the current year.

Salesforce Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date of this dividend was Thursday, April 10th. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s payout ratio is currently 25.98%.

Insider Transactions at Salesforce

In other news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $301.00, for a total transaction of $1,872,521.00. Following the transaction, the chief financial officer now directly owns 46,750 shares of the company’s stock, valued at $14,071,750. This trade represents a 11.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider R David Schmaier sold 6,959 shares of Salesforce stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total transaction of $1,762,784.29. Following the transaction, the insider now directly owns 36,090 shares in the company, valued at approximately $9,141,957.90. This represents a 16.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 46,553 shares of company stock valued at $12,897,323 over the last three months. 3.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on CRM shares. Jefferies Financial Group cut their price objective on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a research report on Monday, March 31st. DA Davidson reaffirmed an “underperform” rating and set a $200.00 price objective on shares of Salesforce in a research report on Wednesday. Royal Bank of Canada lowered shares of Salesforce from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $420.00 to $275.00 in a research report on Thursday. Westpark Capital reissued a “buy” rating and issued a $320.00 price target on shares of Salesforce in a research report on Wednesday. Finally, The Goldman Sachs Group increased their price target on shares of Salesforce from $340.00 to $385.00 and gave the stock a “buy” rating in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-eight have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $343.32.

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.