Weaver Capital Management LLC Buys 2,545 Shares of Salesforce, Inc. (NYSE:CRM)

Weaver Capital Management LLC raised its stake in Salesforce, Inc. (NYSE:CRM) by 100.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,081 shares of the CRM provider’s stock after buying an additional 2,545 shares during the period. Weaver Capital Management LLC’s holdings in Salesforce were worth $1,306,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in CRM. Ruedi Wealth Management Inc. grew its holdings in shares of Salesforce by 186.7% during the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 56 shares during the last quarter. Piscataqua Savings Bank grew its holdings in shares of Salesforce by 2,400.0% during the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 96 shares during the last quarter. Red Tortoise LLC bought a new position in shares of Salesforce during the 1st quarter valued at $33,000. Stephens Consulting LLC grew its holdings in Salesforce by 3,125.0% in the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 125 shares during the last quarter. Finally, Creekmur Asset Management LLC bought a new stake in Salesforce in the 4th quarter worth $35,000. Institutional investors own 80.43% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Stifel Nicolaus raised their price target on shares of Salesforce from $300.00 to $320.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Barclays dropped their target price on shares of Salesforce from $355.00 to $305.00 and set an “overweight” rating for the company in a research report on Thursday, May 30th. Needham & Company LLC reaffirmed a “buy” rating and issued a $345.00 target price on shares of Salesforce in a research report on Thursday, August 29th. JMP Securities reaffirmed a “market outperform” rating and issued a $342.00 target price on shares of Salesforce in a research report on Wednesday, August 28th. Finally, Bank of America raised their target price on shares of Salesforce from $316.00 to $325.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Eight analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $304.41.

Insider Transactions at Salesforce

In other news, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $262.90, for a total value of $1,104,180.00. Following the transaction, the insider now directly owns 117,581 shares in the company, valued at $30,912,044.90. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Salesforce news, COO Brian Millham sold 4,056 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $261.50, for a total transaction of $1,060,644.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Parker Harris sold 4,200 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $262.90, for a total transaction of $1,104,180.00. Following the sale, the insider now directly owns 117,581 shares of the company’s stock, valued at $30,912,044.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 95,164 shares of company stock worth $23,760,225. Insiders own 3.20% of the company’s stock.

Salesforce Price Performance

CRM stock opened at $246.71 on Wednesday. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71. The company’s fifty day moving average price is $254.83 and its 200-day moving average price is $270.44. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.11 and a current ratio of 1.04. The company has a market capitalization of $239.06 billion, a PE ratio of 44.62, a price-to-earnings-growth ratio of 2.22 and a beta of 1.29.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The company had revenue of $9.33 billion for the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter in the prior year, the firm earned $1.63 earnings per share. Salesforce’s revenue was up 8.5% on a year-over-year basis. On average, equities analysts anticipate that Salesforce, Inc. will post 7.52 EPS for the current fiscal year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Tuesday, July 9th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date was Tuesday, July 9th. Salesforce’s payout ratio is presently 28.78%.

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.