Manchester Capital Management LLC Buys 106 Shares of Salesforce, Inc. (NYSE:CRM)

Manchester Capital Management LLC grew its position in Salesforce, Inc. (NYSE:CRM) by 13.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 888 shares of the CRM provider’s stock after acquiring an additional 106 shares during the quarter. Manchester Capital Management LLC’s holdings in Salesforce were worth $267,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CRM. Bear Mountain Capital Inc. bought a new position in Salesforce in the 4th quarter valued at $26,000. Signature Resources Capital Management LLC bought a new position in shares of Salesforce in the fourth quarter worth about $26,000. Ruedi Wealth Management Inc. increased its stake in Salesforce by 186.7% in the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after buying an additional 56 shares during the period. Kathleen S. Wright Associates Inc. bought a new stake in Salesforce during the 4th quarter valued at about $31,000. Finally, Pacifica Partners Inc. boosted its position in Salesforce by 333.3% in the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock valued at $33,000 after buying an additional 100 shares during the period. Institutional investors own 80.43% of the company’s stock.

Salesforce Trading Up 1.0 %

Shares of CRM traded up $2.60 during mid-day trading on Friday, reaching $253.72. The stock had a trading volume of 1,064,497 shares, compared to its average volume of 6,898,521. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The business’s fifty day moving average is $256.82 and its 200 day moving average is $275.90. Salesforce, Inc. has a 52-week low of $193.68 and a 52-week high of $318.71. The firm has a market cap of $245.85 billion, a price-to-earnings ratio of 45.68, a P/E/G ratio of 2.22 and a beta of 1.29.

Salesforce (NYSE:CRM) last posted its quarterly 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. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. The business had revenue of $9.13 billion during the quarter, compared to analysts’ expectations of $9.15 billion. During the same quarter in the prior year, the company posted $1.15 EPS. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, sell-side analysts predict that Salesforce, Inc. will post 7.47 EPS for the current fiscal year.

Salesforce Announces Dividend

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

Insiders Place Their Bets

In other news, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $252.75, for a total transaction of $1,061,550.00. Following the sale, the insider now owns 116,693 shares of the company’s stock, valued at $29,494,155.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Salesforce news, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $252.75, for a total transaction of $1,061,550.00. Following the sale, the insider now owns 116,693 shares in the company, valued at approximately $29,494,155.75. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Brian Millham sold 2,018 shares of the stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $260.00, for a total value of $524,680.00. The disclosure for this sale can be found here. Insiders have sold a total of 439,152 shares of company stock worth $118,115,911 in the last ninety days. 3.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

CRM has been the topic of several research analyst reports. Mizuho dropped their price objective on Salesforce from $345.00 to $300.00 and set a “buy” rating on the stock in a research note on Thursday, May 30th. Raymond James restated a “strong-buy” rating and set a $325.00 price target (down previously from $380.00) on shares of Salesforce in a research note on Thursday, May 30th. Evercore ISI lowered their price objective on shares of Salesforce from $330.00 to $300.00 and set an “outperform” rating for the company in a research note on Thursday, May 30th. Sanford C. Bernstein raised their target price on shares of Salesforce from $231.00 to $234.00 and gave the company an “underperform” rating in a research report on Thursday, May 30th. Finally, StockNews.com cut shares of Salesforce from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average 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.