Joseph Group Capital Management Has $1.85 Million Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Joseph Group Capital Management grew its stake in shares of Salesforce, Inc. (NYSE:CRM) by 1.6% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 7,181 shares of the CRM provider’s stock after acquiring an additional 111 shares during the quarter. Joseph Group Capital Management’s holdings in Salesforce were worth $1,846,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on CRM shares. JMP Securities reaffirmed a “market outperform” rating and issued a $342.00 target price on shares of Salesforce in a report on Wednesday, August 28th. Macquarie reduced their price objective on Salesforce from $330.00 to $275.00 and set an “outperform” rating on the stock in a research note on Friday, May 31st. DA Davidson boosted their target price on Salesforce from $230.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Phillip Securities reissued an “accumulate” rating and issued a $305.00 target price on shares of Salesforce in a report on Friday, August 30th. Finally, Jefferies Financial Group decreased their price target on shares of Salesforce from $360.00 to $350.00 and set a “buy” rating on the stock in a report on Thursday, May 30th. Nine investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $306.00.

Insiders Place Their Bets

In other news, COO Brian Millham sold 1,678 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $242.32, for a total transaction of $406,612.96. Following the completion of the sale, the chief operating officer now owns 1,662 shares in the company, valued at $402,735.84. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Srinivas Tallapragada sold 942 shares of Salesforce stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $242.32, for a total transaction of $228,265.44. Following the completion of the transaction, the insider now directly owns 22,154 shares in the company, valued at $5,368,357.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Brian Millham sold 1,678 shares of the company’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $242.32, for a total transaction of $406,612.96. Following the completion of the sale, the chief operating officer now owns 1,662 shares in the company, valued at approximately $402,735.84. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,576 shares of company stock worth $16,957,573. Corporate insiders own 3.20% of the company’s stock.

Salesforce Price Performance

Salesforce stock opened at $265.87 on Friday. The stock’s 50 day moving average price is $253.90 and its two-hundred day moving average price is $267.00. The stock has a market capitalization of $257.63 billion, a price-to-earnings ratio of 47.82, a PEG ratio of 2.26 and a beta of 1.29. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. Salesforce, Inc. has a 52-week low of $193.68 and a 52-week high of $318.71.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, topping 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 business had revenue of $9.33 billion during the quarter, compared to analysts’ expectations of $9.22 billion. During the same period last year, the company posted $1.63 earnings per share. The business’s quarterly revenue was up 8.5% on a year-over-year basis. On average, equities analysts predict that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date of this dividend is Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is currently 28.78%.

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.