Deltec Asset Management LLC Increases Position in Salesforce, Inc. (NYSE:CRM)

Deltec Asset Management LLC lifted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 36.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,500 shares of the CRM provider’s stock after acquiring an additional 1,750 shares during the quarter. Deltec Asset Management LLC’s holdings in Salesforce were worth $1,671,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Chase Investment Counsel Corp increased its position in shares of Salesforce by 0.3% during the fourth quarter. Chase Investment Counsel Corp now owns 10,377 shares of the CRM provider’s stock worth $2,730,000 after acquiring an additional 36 shares during the period. JFS Wealth Advisors LLC increased its position in shares of Salesforce by 11.4% during the fourth quarter. JFS Wealth Advisors LLC now owns 353 shares of the CRM provider’s stock worth $93,000 after acquiring an additional 36 shares during the period. Opes Wealth Management LLC increased its position in shares of Salesforce by 2.9% during the fourth quarter. Opes Wealth Management LLC now owns 1,295 shares of the CRM provider’s stock worth $341,000 after acquiring an additional 37 shares during the period. Fox Hill Wealth Management increased its position in shares of Salesforce by 4.0% during the first quarter. Fox Hill Wealth Management now owns 985 shares of the CRM provider’s stock worth $297,000 after acquiring an additional 38 shares during the period. Finally, Pinnacle Wealth Planning Services Inc. grew its stake in shares of Salesforce by 0.8% during the first quarter. Pinnacle Wealth Planning Services Inc. now owns 4,946 shares of the CRM provider’s stock worth $1,490,000 after purchasing an additional 38 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Price Performance

Shares of Salesforce stock traded up $0.72 during trading on Wednesday, hitting $255.32. 4,140,090 shares of the company were exchanged, compared to its average volume of 6,643,904. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a fifty-two week low of $193.68 and a fifty-two week high of $318.71. The stock has a market capitalization of $247.41 billion, a price-to-earnings ratio of 46.09, a P/E/G ratio of 2.22 and a beta of 1.29. The firm has a 50 day moving average price of $248.27 and a 200 day moving average price of $273.40.

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

Salesforce Dividend Announcement

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

Insiders Place Their Bets

In other Salesforce news, insider Parker Harris sold 1,400 shares of Salesforce stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $251.62, for a total value of $352,268.00. Following the completion of the sale, the insider now directly owns 117,581 shares of the company’s stock, valued at approximately $29,585,731.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $216.66, for a total transaction of $3,249,900.00. Following the completion of the sale, the chief executive officer now directly owns 12,407,327 shares of the company’s stock, valued at approximately $2,688,171,467.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Parker Harris sold 1,400 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $251.62, for a total transaction of $352,268.00. Following the sale, the insider now directly owns 117,581 shares of the company’s stock, valued at $29,585,731.22. The disclosure for this sale can be found here. In the last three months, insiders sold 197,936 shares of company stock valued at $51,158,915. Company insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CRM shares. Oppenheimer lowered their target price on shares of Salesforce from $325.00 to $280.00 and set an “outperform” rating for the company in a research note on Thursday, May 30th. BMO Capital Markets lowered their target price on shares of Salesforce from $335.00 to $265.00 and set an “outperform” rating for the company in a research note on Thursday, May 30th. Royal Bank of Canada reiterated an “outperform” rating and set a $350.00 target price on shares of Salesforce in a research note on Friday, May 24th. TD Cowen lowered their target price on shares of Salesforce from $330.00 to $285.00 and set a “hold” rating for the company in a research note on Thursday, May 30th. Finally, Citigroup decreased their price objective on shares of Salesforce from $323.00 to $260.00 and set a “neutral” rating for the company in a research note on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $292.79.

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.