Boltwood Capital Management Lowers Stake in Salesforce, Inc. (NYSE:CRM)

Boltwood Capital Management reduced its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 1.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,265 shares of the CRM provider’s stock after selling 183 shares during the period. Boltwood Capital Management’s holdings in Salesforce were worth $2,486,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of CRM. Bernard Wealth Management Corp. bought a new stake in Salesforce during the 4th quarter valued at about $25,000. Accredited Wealth Management LLC bought a new stake in Salesforce during the fourth quarter valued at approximately $27,000. Arlington Trust Co LLC grew its position in Salesforce by 85.1% during the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after buying an additional 40 shares during the period. Compass Financial Services Inc bought a new stake in Salesforce during the fourth quarter valued at approximately $30,000. Finally, Asset Planning Inc purchased a new position in Salesforce during the fourth quarter valued at approximately $31,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Salesforce

In other Salesforce news, insider R David Schmaier sold 1,785 shares of the firm’s stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $288.34, for a total transaction of $514,686.90. Following the transaction, the insider now owns 29,190 shares of the company’s stock, valued at approximately $8,416,644.60. This trade represents a 5.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Srinivas Tallapragada sold 6,697 shares of the firm’s stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $295.00, for a total transaction of $1,975,615.00. Following the transaction, the insider now directly owns 41,422 shares in the company, valued at $12,219,490. This trade represents a 13.92% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 40,332 shares of company stock valued at $11,024,802. Company insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Westpark Capital reaffirmed a “buy” rating and set a $320.00 price target on shares of Salesforce in a report on Wednesday, May 28th. Stephens lowered their target price on shares of Salesforce from $311.00 to $309.00 and set an “equal weight” rating on the stock in a report on Friday, May 30th. Redburn Atlantic started coverage on shares of Salesforce in a report on Wednesday, February 19th. They issued a “buy” rating on the stock. Barclays lowered their target price on shares of Salesforce from $425.00 to $347.00 and set an “overweight” rating on the stock in a report on Thursday, May 29th. Finally, BMO Capital Markets lowered their target price on shares of Salesforce from $367.00 to $350.00 and set an “outperform” rating on the stock in a report on Tuesday, May 27th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-eight have assigned a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $346.34.

Salesforce Trading Down 0.6%

CRM stock opened at $262.85 on Thursday. The company has a market capitalization of $251.28 billion, a PE ratio of 43.23, a P/E/G ratio of 2.58 and a beta of 1.38. Salesforce, Inc. has a 12 month low of $227.77 and a 12 month high of $369.00. The firm’s 50-day moving average is $266.51 and its 200 day moving average is $303.30. 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 posted its quarterly earnings results on Wednesday, May 28th. The CRM provider reported $2.58 EPS for the quarter, topping the consensus estimate of $2.55 by $0.03. The company had revenue of $9.83 billion for the quarter, compared to the consensus estimate of $9.74 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm’s revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.44 EPS. On average, research analysts anticipate that Salesforce, Inc. will post 7.46 EPS for the current year.

Salesforce Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were given a dividend of $0.42 per share. This is an increase from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a yield of 0.64%. Salesforce’s dividend payout ratio (DPR) is 25.98%.

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.