Salesforce, Inc. (NYSE:CRM) Shares Acquired by MONECO Advisors LLC

MONECO Advisors LLC grew its position in Salesforce, Inc. (NYSE:CRM) by 44.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,394 shares of the CRM provider’s stock after acquiring an additional 731 shares during the period. MONECO Advisors LLC’s holdings in Salesforce were worth $630,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Bear Mountain Capital Inc. acquired a new stake in shares of Salesforce in the fourth quarter valued at $26,000. Kathleen S. Wright Associates Inc. acquired a new position in Salesforce during the 4th quarter worth $31,000. BKM Wealth Management LLC acquired a new position in Salesforce during the 4th quarter worth $34,000. Pacifica Partners Inc. grew its stake in Salesforce by 333.3% during the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 100 shares in the last quarter. Finally, AlphaMark Advisors LLC grew its stake in Salesforce by 892.9% during the 4th quarter. AlphaMark Advisors LLC now owns 139 shares of the CRM provider’s stock worth $37,000 after purchasing an additional 125 shares in the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on CRM. Argus boosted their target price on Salesforce from $290.00 to $354.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. BMO Capital Markets upped their price objective on Salesforce from $325.00 to $335.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Mizuho reaffirmed a “buy” rating and set a $345.00 price objective (up from $325.00) on shares of Salesforce in a research report on Thursday, February 29th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $350.00 price objective (up from $325.00) on shares of Salesforce in a research report on Friday, April 12th. Finally, Wolfe Research reaffirmed an “outperform” rating and set a $365.00 price objective on shares of Salesforce in a research report on Tuesday, April 16th. Nine research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $310.61.

Salesforce Stock Performance

NYSE CRM opened at $268.71 on Wednesday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The business’s 50 day moving average is $295.34 and its two-hundred day moving average is $265.65. Salesforce, Inc. has a 12-month low of $190.76 and a 12-month high of $318.71. The stock has a market capitalization of $260.65 billion, a price-to-earnings ratio of 64.03, a PEG ratio of 2.12 and a beta of 1.28.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.06. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The company had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter in the previous year, the firm posted $1.01 EPS. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. Research analysts expect that Salesforce, Inc. will post 7.45 EPS for the current year.

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 14th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date was Wednesday, March 13th. Salesforce’s dividend payout ratio is currently 9.52%.

Insider Buying and Selling

In related news, CAO Sundeep G. Reddy sold 2,425 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $273.15, for a total value of $662,388.75. Following the sale, the chief accounting officer now owns 5,856 shares in the company, valued at approximately $1,599,566.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CAO Sundeep G. Reddy sold 2,425 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $273.15, for a total value of $662,388.75. Following the sale, the chief accounting officer now owns 5,856 shares in the company, valued at approximately $1,599,566.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Brian Millham sold 24,453 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $302.08, for a total value of $7,386,762.24. The disclosure for this sale can be found here. Insiders have sold a total of 610,793 shares of company stock worth $179,074,618 in the last quarter. Company insiders own 3.70% of the company’s stock.

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.