Waterloo Capital L.P. Has $394,000 Position in Salesforce, Inc. (NYSE:CRM)

Waterloo Capital L.P. increased its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 42.5% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 1,533 shares of the CRM provider’s stock after purchasing an additional 457 shares during the period. Waterloo Capital L.P.’s holdings in Salesforce were worth $394,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Gilbert & Cook Inc. increased its position in Salesforce by 6.9% during the fourth quarter. Gilbert & Cook Inc. now owns 5,659 shares of the CRM provider’s stock worth $1,489,000 after acquiring an additional 366 shares during the period. Aveo Capital Partners LLC increased its holdings in shares of Salesforce by 44.7% during the 4th quarter. Aveo Capital Partners LLC now owns 1,605 shares of the CRM provider’s stock worth $422,000 after purchasing an additional 496 shares during the period. 9258 Wealth Management LLC raised its position in shares of Salesforce by 24.0% during the fourth quarter. 9258 Wealth Management LLC now owns 6,483 shares of the CRM provider’s stock valued at $1,706,000 after buying an additional 1,253 shares during the last quarter. Gryphon Financial Partners LLC lifted its stake in shares of Salesforce by 32.4% in the fourth quarter. Gryphon Financial Partners LLC now owns 3,960 shares of the CRM provider’s stock valued at $1,064,000 after buying an additional 970 shares during the period. Finally, TrinityPoint Wealth LLC grew its position in Salesforce by 1.7% during the fourth quarter. TrinityPoint Wealth LLC now owns 8,036 shares of the CRM provider’s stock worth $2,115,000 after buying an additional 133 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Performance

Salesforce stock opened at $265.87 on Friday. The company has a market cap of $257.63 billion, a PE ratio of 47.82, a PEG ratio of 2.26 and a beta of 1.29. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. Salesforce, Inc. has a 1 year low of $193.68 and a 1 year high of $318.71. The company’s 50-day moving average is $253.90 and its two-hundred day moving average is $267.00.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $9.22 billion. During the same period in the prior year, the business posted $1.63 earnings per share. Salesforce’s revenue was up 8.5% compared to the same quarter last year. Equities analysts anticipate that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Announces Dividend

The business also recently disclosed 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. The ex-dividend date 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 (DPR) is presently 28.78%.

Wall Street Analyst Weigh In

A number of analysts have commented on CRM shares. Stifel Nicolaus raised their price objective on Salesforce from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Morgan Stanley raised their target price on Salesforce from $320.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Macquarie lowered their price target on shares of Salesforce from $330.00 to $275.00 and set an “outperform” rating on the stock in a report on Friday, May 31st. Barclays dropped their price objective on shares of Salesforce from $355.00 to $305.00 and set an “overweight” rating for the company in a research note on Thursday, May 30th. Finally, Loop Capital reiterated a “hold” rating and set a $270.00 target price on shares of Salesforce in a research report on Thursday. 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 stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $306.00.

Insider Activity at Salesforce

In other news, insider Parker Harris sold 5,600 shares of the business’s 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 directly owns 116,693 shares in the company, valued at approximately $29,193,087.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Parker Harris sold 5,600 shares of Salesforce stock in a transaction 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 transaction, the insider now directly owns 116,693 shares of the company’s stock, valued at $29,193,087.81. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Miguel Milano sold 2,934 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $262.95, for a total transaction of $771,495.30. Following the completion of the transaction, the insider now directly owns 3,716 shares of the company’s stock, valued at approximately $977,122.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,576 shares of company stock worth $16,957,573. 3.20% of the stock is owned by insiders.

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.