MWA Asset Management Sells 203 Shares of Salesforce, Inc. (NYSE:CRM)

MWA Asset Management lessened its stake in shares of Salesforce, Inc. (NYSE:CRM) by 5.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,620 shares of the CRM provider’s stock after selling 203 shares during the quarter. MWA Asset Management’s holdings in Salesforce were worth $1,210,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Infrastructure Capital Advisors LLC bought a new position in shares of Salesforce during the third quarter valued at $27,000. Godsey & Gibb Inc. increased its position in shares of Salesforce by 300.0% during the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 90 shares in the last quarter. Annapolis Financial Services LLC boosted its position in Salesforce by 135.6% in the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock valued at $38,000 after buying an additional 80 shares in the last quarter. FSA Wealth Management LLC bought a new stake in Salesforce during the third quarter worth about $53,000. Finally, Friedenthal Financial acquired a new stake in shares of Salesforce during the fourth quarter worth approximately $55,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Buying and Selling

In other news, CAO Sundeep G. Reddy sold 436 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the transaction, the chief accounting officer now owns 7,057 shares in the company, valued at $2,344,899.96. This trade represents a 5.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Miguel Milano sold 719 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $342.81, for a total value of $246,480.39. Following the sale, the insider now owns 4,659 shares in the company, valued at $1,597,151.79. The trade was a 13.37 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,111,420 shares of company stock worth $384,366,700. 3.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

CRM has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their target price on Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Jefferies Financial Group increased their target price on Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Citigroup raised their target price on Salesforce from $368.00 to $390.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. JMP Securities reiterated a “market outperform” rating and set a $450.00 price target on shares of Salesforce in a research report on Wednesday, December 18th. Finally, Morgan Stanley raised their price objective on shares of Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $377.63.

Salesforce Price Performance

NYSE CRM opened at $325.81 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a market cap of $311.80 billion, a price-to-earnings ratio of 53.59, a PEG ratio of 3.09 and a beta of 1.31. The business has a 50 day simple moving average of $339.05 and a 200 day simple moving average of $299.87. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.03). The company had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm’s revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.62 EPS. Analysts anticipate that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were issued a $0.40 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.49%. Salesforce’s dividend payout ratio (DPR) is 26.32%.

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.