WESPAC Advisors SoCal LLC Purchases 290 Shares of Salesforce, Inc. (NYSE:CRM)

WESPAC Advisors SoCal LLC lifted its position in Salesforce, Inc. (NYSE:CRM) by 12.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,657 shares of the CRM provider’s stock after acquiring an additional 290 shares during the period. WESPAC Advisors SoCal LLC’s holdings in Salesforce were worth $800,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CRM. Norges Bank purchased a new stake in shares of Salesforce in the 4th quarter worth approximately $2,762,331,000. Capital International Investors grew its stake in shares of Salesforce by 76.4% in the 4th quarter. Capital International Investors now owns 13,708,615 shares of the CRM provider’s stock worth $3,607,493,000 after buying an additional 5,935,973 shares during the last quarter. Cerity Partners LLC grew its stake in shares of Salesforce by 1,254.7% in the 4th quarter. Cerity Partners LLC now owns 3,483,670 shares of the CRM provider’s stock worth $916,693,000 after buying an additional 3,226,512 shares during the last quarter. Coatue Management LLC purchased a new stake in shares of Salesforce in the 4th quarter worth approximately $564,188,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in shares of Salesforce by 110.3% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,394,912 shares of the CRM provider’s stock worth $893,336,000 after buying an additional 1,780,421 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Evercore ISI cut their price target on Salesforce from $330.00 to $300.00 and set an “outperform” rating on the stock in a research note on Thursday, May 30th. Stifel Nicolaus reduced their target price on Salesforce from $350.00 to $300.00 and set a “buy” rating for the company in a report on Thursday, May 30th. StockNews.com lowered Salesforce from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 19th. Morgan Stanley reduced their target price on Salesforce from $350.00 to $320.00 and set an “overweight” rating for the company in a report on Thursday, May 30th. Finally, Wedbush reduced their target price on Salesforce from $325.00 to $315.00 and set an “outperform” rating for the company in a report on Wednesday, May 29th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $292.79.

Insider Buying and Selling

In other Salesforce news, COO Brian Millham sold 2,018 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $260.00, for a total transaction of $524,680.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Parker Harris sold 5,600 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $250.17, for a total transaction of $1,400,952.00. Following the transaction, the insider now owns 116,693 shares of the company’s stock, valued at $29,193,087.81. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Brian Millham sold 2,018 shares of the company’s stock in a transaction that occurred on 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. Over the last three months, insiders have sold 509,952 shares of company stock worth $139,786,753. Corporate insiders own 3.20% of the company’s stock.

Salesforce Price Performance

Shares of NYSE:CRM traded down $0.96 during mid-day trading on Monday, reaching $256.14. The stock had a trading volume of 5,870,518 shares, compared to its average volume of 6,977,129. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The company has a market cap of $248.20 billion, a P/E ratio of 46.08, a price-to-earnings-growth ratio of 2.26 and a beta of 1.29. Salesforce, Inc. has a 1 year low of $193.68 and a 1 year high of $318.71. The business’s 50 day moving average price is $259.79 and its 200 day moving average price is $276.47.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, May 29th. The CRM provider reported $2.44 EPS for the quarter, topping analysts’ consensus estimates of $2.38 by $0.06. The company had revenue of $9.13 billion for the quarter, compared to the consensus estimate of $9.15 billion. Salesforce had a return on equity of 11.57% and a net margin of 15.30%. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.15 earnings per share. Research analysts expect that Salesforce, Inc. will post 7.47 EPS for the current fiscal year.

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Tuesday, July 9th will be given a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, July 9th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.62%. Salesforce’s dividend payout ratio is currently 7.19%.

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.