XML Financial LLC Raises Position in Salesforce, Inc. (NYSE:CRM)

XML Financial LLC raised its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 5.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,522 shares of the CRM provider’s stock after acquiring an additional 174 shares during the quarter. XML Financial LLC’s holdings in Salesforce were worth $906,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of CRM. Signature Resources Capital Management LLC bought a new stake in shares of Salesforce during the 4th quarter valued at $26,000. Ruedi Wealth Management Inc. increased its holdings in Salesforce by 186.7% in the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock valued at $26,000 after acquiring an additional 56 shares during the last quarter. Piscataqua Savings Bank increased its holdings in Salesforce by 2,400.0% in the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after acquiring an additional 96 shares during the last quarter. Red Tortoise LLC bought a new stake in Salesforce in the 1st quarter valued at $33,000. Finally, Creekmur Asset Management LLC bought a new stake in Salesforce in the 4th quarter valued at $35,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Stock Performance

Shares of CRM stock traded down $0.89 during trading hours on Wednesday, hitting $260.95. The company’s stock had a trading volume of 4,647,641 shares, compared to its average volume of 6,583,830. The company has a 50 day moving average of $250.86 and a 200 day moving average of $272.49. The stock has a market cap of $252.86 billion, a PE ratio of 46.93, a price-to-earnings-growth ratio of 2.22 and a beta of 1.29. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 12-month low of $193.68 and a 12-month high of $318.71.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Wednesday, May 29th. The CRM provider reported $2.44 EPS for the quarter, beating the consensus estimate of $2.38 by $0.06. The business had revenue of $9.13 billion for 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%. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.15 EPS. On average, sell-side analysts forecast that Salesforce, Inc. will post 7.47 EPS for the current fiscal year.

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Tuesday, July 9th were given a dividend of $0.40 per share. The ex-dividend date was Tuesday, July 9th. This represents a $1.60 annualized dividend and a yield of 0.61%. Salesforce’s dividend payout ratio is presently 28.78%.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $345.00 price target on shares of Salesforce in a report on Thursday, May 30th. Citigroup dropped their price objective on shares of Salesforce from $323.00 to $260.00 and set a “neutral” rating for the company in a research note on Thursday, May 30th. Mizuho dropped their price objective on shares of Salesforce from $345.00 to $300.00 and set a “buy” rating for the company in a research note on Thursday, May 30th. Wells Fargo & Company dropped their price objective on shares of Salesforce from $300.00 to $250.00 and set an “equal weight” rating for the company in a research note on Thursday, May 30th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Salesforce from $350.00 to $300.00 and set a “buy” rating for the company in a research note on Thursday, May 30th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $291.50.

Insider Activity at Salesforce

In related news, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total transaction of $105,637.14. Following the sale, the chief accounting officer now owns 6,431 shares in the company, valued at $1,644,921.18. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of the stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total transaction of $105,637.14. Following the transaction, the chief accounting officer now directly owns 6,431 shares of the company’s stock, valued at $1,644,921.18. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Marc Benioff sold 15,000 shares of the stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $216.66, for a total transaction of $3,249,900.00. Following the transaction, the chief executive officer now directly owns 12,407,327 shares in the company, valued at $2,688,171,467.82. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 150,974 shares of company stock worth $37,516,870. 3.20% of the stock is owned by company insiders.

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.