Meeder Advisory Services Inc. Purchases 713 Shares of Salesforce, Inc. (NYSE:CRM)

Meeder Advisory Services Inc. raised its stake in Salesforce, Inc. (NYSE:CRM) by 6.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,735 shares of the CRM provider’s stock after acquiring an additional 713 shares during the period. Meeder Advisory Services Inc.’s holdings in Salesforce were worth $3,534,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of CRM. Marks Group Wealth Management Inc lifted its stake in shares of Salesforce by 0.7% during the fourth quarter. Marks Group Wealth Management Inc now owns 35,220 shares of the CRM provider’s stock valued at $9,268,000 after acquiring an additional 257 shares during the period. Spartan Planning & Wealth Management increased its position in shares of Salesforce by 66.3% during the 4th quarter. Spartan Planning & Wealth Management now owns 1,567 shares of the CRM provider’s stock worth $412,000 after purchasing an additional 625 shares during the last quarter. Roman Butler Fullerton & Co. boosted its stake in shares of Salesforce by 1.4% during the 4th quarter. Roman Butler Fullerton & Co. now owns 7,881 shares of the CRM provider’s stock worth $2,206,000 after acquiring an additional 105 shares during the period. Parnassus Investments LLC boosted its stake in shares of Salesforce by 0.3% during the 4th quarter. Parnassus Investments LLC now owns 5,951,415 shares of the CRM provider’s stock worth $1,566,055,000 after acquiring an additional 18,397 shares during the period. Finally, TD Asset Management Inc boosted its stake in shares of Salesforce by 32.6% during the 4th quarter. TD Asset Management Inc now owns 789,525 shares of the CRM provider’s stock worth $207,756,000 after acquiring an additional 194,224 shares during the period. 80.43% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CAO Sundeep G. Reddy sold 2,425 shares of the 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 completion of the transaction, the chief accounting officer now owns 5,856 shares of the company’s stock, valued at approximately $1,599,566.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Salesforce news, CAO Sundeep G. Reddy sold 2,425 shares of the 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 sale, the chief accounting officer now directly owns 5,856 shares in the company, valued at approximately $1,599,566.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Srinivas Tallapragada sold 942 shares of the 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 $228,265.44. Following the sale, the insider now owns 22,154 shares in the company, valued at $5,368,357.28. The disclosure for this sale can be found here. Insiders sold a total of 424,152 shares of company stock valued at $113,945,011 in the last 90 days. Company insiders own 3.20% of the company’s stock.

Salesforce Trading Down 0.4 %

Shares of NYSE:CRM traded down $1.13 during trading on Monday, reaching $252.84. 4,403,696 shares of the company were exchanged, compared to its average volume of 6,907,069. The firm has a market capitalization of $245.00 billion, a PE ratio of 45.47, a P/E/G ratio of 2.23 and a beta of 1.29. The business’s fifty day simple moving average is $255.97 and its 200-day simple moving average is $275.86. Salesforce, Inc. has a 12-month low of $193.68 and a 12-month high of $318.71. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share for the quarter, beating the consensus estimate of $2.38 by $0.06. The company had revenue of $9.13 billion during the quarter, compared to the consensus estimate of $9.15 billion. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. Salesforce’s revenue was up 10.7% compared to the same quarter last year. During the same period last year, the firm earned $1.15 earnings per share. On average, research analysts anticipate that Salesforce, Inc. will post 7.47 EPS for the current year.

Salesforce Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Tuesday, July 9th will be issued a $0.40 dividend. The ex-dividend date is Tuesday, July 9th. This represents a $1.60 dividend on an annualized basis and a yield of 0.63%. Salesforce’s payout ratio is 28.78%.

Analyst Ratings Changes

Several research firms recently issued reports on CRM. Evercore ISI reduced their price target on Salesforce from $330.00 to $300.00 and set an “outperform” rating for the company in a research note on Thursday, May 30th. Macquarie reduced their price target on Salesforce from $330.00 to $275.00 and set an “outperform” rating for the company in a research note on Friday, May 31st. Deutsche Bank Aktiengesellschaft reduced their price target on Salesforce from $350.00 to $300.00 and set a “buy” rating for the company in a research note on Thursday, May 30th. UBS Group reduced their price target on Salesforce from $310.00 to $250.00 and set a “neutral” rating for the company in a research note on Thursday, May 30th. Finally, Robert W. Baird cut their target price on Salesforce from $355.00 to $295.00 and set an “outperform” rating for the company 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $292.79.

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.