Salesforce, Inc. (NYSE:CRM) Shares Acquired by Nelson Capital Management LLC

Nelson Capital Management LLC boosted its position in shares of Salesforce, Inc. (NYSE:CRM) by 3.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,193 shares of the CRM provider’s stock after purchasing an additional 260 shares during the period. Nelson Capital Management LLC’s holdings in Salesforce were worth $1,849,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CRM. Fox Hill Wealth Management boosted its holdings in shares of Salesforce by 4.0% in the first quarter. Fox Hill Wealth Management now owns 985 shares of the CRM provider’s stock worth $297,000 after buying an additional 38 shares during the period. Pinnacle Wealth Planning Services Inc. boosted its position in shares of Salesforce by 0.8% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 4,946 shares of the CRM provider’s stock worth $1,490,000 after buying an additional 38 shares during the period. Glassman Wealth Services boosted its position in Salesforce by 2.9% during the 4th quarter. Glassman Wealth Services now owns 1,369 shares of the CRM provider’s stock worth $360,000 after acquiring an additional 39 shares during the period. Blue Barn Wealth LLC grew its position in Salesforce by 1.8% during the first quarter. Blue Barn Wealth LLC now owns 2,207 shares of the CRM provider’s stock valued at $665,000 after purchasing an additional 39 shares in the last quarter. Finally, Catalyst Financial Partners LLC increased its stake in Salesforce by 0.8% in the 2nd quarter. Catalyst Financial Partners LLC now owns 4,876 shares of the CRM provider’s stock valued at $1,254,000 after buying an additional 39 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Activity

In other Salesforce news, CFO Amy E. Weaver sold 897 shares of Salesforce stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total value of $229,434.66. Following the sale, the chief financial officer now directly owns 51,109 shares in the company, valued at approximately $13,072,660.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Salesforce news, insider Parker Harris sold 3,528 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $250.59, for a total value of $884,081.52. Following the completion of the transaction, the insider now directly owns 117,581 shares in the company, valued at $29,464,622.79. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Amy E. Weaver sold 897 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total value of $229,434.66. Following the completion of the sale, the chief financial officer now directly owns 51,109 shares of the company’s stock, valued at approximately $13,072,660.02. The disclosure for this sale can be found here. Insiders have sold a total of 59,892 shares of company stock worth $15,269,897 over the last three months. Corporate insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on CRM. BMO Capital Markets lifted their target price on shares of Salesforce from $265.00 to $305.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Barclays dropped their target price on Salesforce from $355.00 to $305.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. Royal Bank of Canada reiterated an “outperform” rating and set a $300.00 price target on shares of Salesforce in a report on Thursday, August 29th. UBS Group raised their price objective on shares of Salesforce from $250.00 to $275.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Finally, JMP Securities reissued a “market outperform” rating and issued a $342.00 target price on shares of Salesforce in a research report on Wednesday, August 28th. Nine research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $304.41.

Salesforce Price Performance

Shares of CRM opened at $249.57 on Thursday. The stock’s 50-day moving average price is $253.88 and its two-hundred day moving average price is $268.78. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. The stock has a market cap of $241.83 billion, a P/E ratio of 44.89, a price-to-earnings-growth ratio of 2.21 and a beta of 1.29. Salesforce, Inc. has a 1 year low of $193.68 and a 1 year high of $318.71.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.20. The company had revenue of $9.33 billion during the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The firm’s revenue was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.63 EPS. On average, equities analysts predict that Salesforce, Inc. will post 7.54 earnings per share for the current year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend is Wednesday, September 18th. Salesforce’s payout ratio is currently 28.78%.

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.