SYSTM Wealth Solutions LLC Sells 390 Shares of Salesforce, Inc. (NYSE:CRM)

SYSTM Wealth Solutions LLC lessened its stake in shares of Salesforce, Inc. (NYSE:CRM) by 61.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 245 shares of the CRM provider’s stock after selling 390 shares during the period. SYSTM Wealth Solutions LLC’s holdings in Salesforce were worth $63,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Salesforce by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 84,635,254 shares of the CRM provider’s stock worth $25,490,446,000 after purchasing an additional 1,008,841 shares in the last quarter. Capital World Investors lifted its stake in shares of Salesforce by 2.4% in 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 in the last quarter. Fisher Asset Management LLC grew its holdings in shares of Salesforce by 5.2% during the fourth quarter. Fisher Asset Management LLC now owns 14,905,462 shares of the CRM provider’s stock valued at $3,922,223,000 after buying an additional 736,986 shares during the last quarter. Capital Research Global Investors increased its position in shares of Salesforce by 26.9% during the first quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock valued at $4,329,925,000 after acquiring an additional 3,044,611 shares in the last quarter. Finally, Capital International Investors raised its holdings in Salesforce by 3.0% in the 1st quarter. Capital International Investors now owns 14,116,449 shares of the CRM provider’s stock worth $4,251,592,000 after acquiring an additional 407,834 shares during the last quarter. 80.43% of the stock is owned by institutional investors.

Salesforce Price Performance

Shares of NYSE:CRM opened at $265.87 on Friday. The firm has a market cap of $257.63 billion, a price-to-earnings ratio of 47.82, a P/E/G ratio of 2.26 and a beta of 1.29. The firm has a fifty day moving average price of $253.90 and a 200 day moving average price of $267.00. Salesforce, Inc. has a fifty-two week low of $193.68 and a fifty-two week high of $318.71. 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 (NYSE:CRM) last issued its quarterly earnings data 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. The firm had revenue of $9.33 billion during the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.63 earnings per share. As a group, sell-side analysts expect that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Announces Dividend

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 dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.60%. Salesforce’s dividend payout ratio is currently 28.78%.

Insider Activity at Salesforce

In related news, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $262.97, for a total transaction of $1,104,474.00. Following the sale, the insider now owns 117,581 shares of the company’s stock, valued at $30,920,275.57. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Salesforce news, COO Brian Millham sold 4,056 shares of Salesforce stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $261.50, for a total transaction of $1,060,644.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Parker Harris sold 4,200 shares of the stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $262.97, for a total transaction of $1,104,474.00. Following the completion of the sale, the insider now directly owns 117,581 shares in the company, valued at approximately $30,920,275.57. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,576 shares of company stock valued at $16,957,573. 3.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have commented on the company. Macquarie reduced their target price on Salesforce from $330.00 to $275.00 and set an “outperform” rating for the company in a report on Friday, May 31st. Stifel Nicolaus boosted their target price on Salesforce from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Bank of America restated a “buy” rating and set a $325.00 target price on shares of Salesforce in a research note on Friday, September 6th. Evercore ISI reiterated an “outperform” rating and issued a $300.00 price target on shares of Salesforce in a research note on Monday, August 26th. Finally, Citigroup increased their price objective on shares of Salesforce from $260.00 to $290.00 and gave the company a “neutral” rating in a research report on Monday, August 26th. Nine analysts have rated the stock with a hold rating, twenty-six have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $306.00.

Salesforce 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.