Salesforce, Inc. (NYSE:CRM) Shares Bought by Aviance Capital Partners LLC

Aviance Capital Partners LLC boosted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 18.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,021 shares of the CRM provider’s stock after buying an additional 1,100 shares during the quarter. Aviance Capital Partners LLC’s holdings in Salesforce were worth $2,115,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Capital World Investors grew its position in Salesforce by 2.4% during the fourth quarter. Capital World Investors now owns 19,561,325 shares of the CRM provider’s stock worth $5,147,402,000 after buying an additional 457,463 shares during the period. Fisher Asset Management LLC grew its position in shares of Salesforce by 5.3% in the fourth quarter. Fisher Asset Management LLC now owns 14,921,042 shares of the CRM provider’s stock valued at $3,926,323,000 after purchasing an additional 752,566 shares during the last quarter. Capital International Investors grew its position in shares of Salesforce by 76.4% in the fourth quarter. Capital International Investors now owns 13,708,615 shares of the CRM provider’s stock valued at $3,607,493,000 after purchasing an additional 5,935,973 shares during the last quarter. Norges Bank acquired a new stake in shares of Salesforce in the fourth quarter valued at approximately $2,762,331,000. Finally, Parnassus Investments LLC grew its position in shares of Salesforce by 0.3% in the fourth quarter. Parnassus Investments LLC now owns 5,951,415 shares of the CRM provider’s stock valued at $1,566,055,000 after purchasing an additional 18,397 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Price Performance

NYSE CRM traded down $0.01 during trading hours on Monday, reaching $257.09. 1,131,471 shares of the company’s stock were exchanged, compared to its average volume of 6,939,221. The stock has a market cap of $249.12 billion, a PE ratio of 46.24, a price-to-earnings-growth ratio of 2.26 and a beta of 1.29. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71. The firm has a fifty day moving average of $259.79 and a 200-day moving average of $276.47. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Wednesday, May 29th. The CRM provider reported $2.44 EPS for the quarter, topping analysts’ consensus estimates of $2.38 by $0.06. The business had revenue of $9.13 billion for the quarter, compared to analyst estimates of $9.15 billion. Salesforce had a return on equity of 11.57% and a net margin of 15.30%. Salesforce’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.15 EPS. On average, equities research analysts predict that Salesforce, Inc. will post 7.47 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 25th. Shareholders 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 is 7.19%.

Analyst Ratings Changes

A number of equities analysts have weighed in on CRM shares. JMP Securities reaffirmed a “market outperform” rating and set a $342.00 price target on shares of Salesforce in a research note on Monday, April 15th. Wedbush reduced their price target on shares of Salesforce from $325.00 to $315.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 29th. Robert W. Baird cut their price objective on shares of Salesforce from $355.00 to $295.00 and set an “outperform” rating on the stock in a research report on Thursday, May 30th. UBS Group cut their price objective on shares of Salesforce from $310.00 to $250.00 and set a “neutral” rating on the stock in a research report on Thursday, May 30th. Finally, Oppenheimer cut their price objective on shares of Salesforce from $325.00 to $280.00 and set an “outperform” rating on the stock in a research report on Thursday, May 30th. One analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $292.79.

Insider Activity at Salesforce

In related news, insider Parker Harris sold 5,600 shares of Salesforce stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $250.17, for a total transaction of $1,400,952.00. Following the completion of the transaction, the insider now owns 116,693 shares in the company, valued at $29,193,087.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Salesforce news, insider Parker Harris sold 5,600 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $250.17, for a total transaction of $1,400,952.00. Following the completion of the transaction, the insider now directly owns 116,693 shares in the company, valued at $29,193,087.81. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Sundeep G. Reddy sold 2,425 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total transaction of $662,388.75. Following the transaction, the chief accounting officer now owns 5,856 shares of the company’s stock, valued at $1,599,566.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 507,934 shares of company stock valued at $139,262,073. 3.20% of the stock is owned by 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.