Wolff Wiese Magana LLC Cuts Holdings in Salesforce, Inc. (NYSE:CRM)

Wolff Wiese Magana LLC lessened its stake in Salesforce, Inc. (NYSE:CRM) by 1.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,173 shares of the CRM provider’s stock after selling 62 shares during the quarter. Wolff Wiese Magana LLC’s holdings in Salesforce were worth $1,061,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Infrastructure Capital Advisors LLC purchased a new position in Salesforce in the third quarter worth approximately $27,000. Godsey & Gibb Inc. lifted its position in shares of Salesforce by 300.0% during the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 90 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in shares of Salesforce during the second quarter worth $33,000. Annapolis Financial Services LLC increased its holdings in Salesforce by 135.6% in the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock valued at $38,000 after buying an additional 80 shares during the last quarter. Finally, Friedenthal Financial acquired a new stake in Salesforce in the fourth quarter valued at $55,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $117,824.77. Following the completion of the sale, the chief accounting officer now owns 7,006 shares in the company, valued at $1,998,741.74. This trade represents a 5.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $288.82, for a total transaction of $1,213,044.00. Following the sale, the insider now directly owns 118,514 shares of the company’s stock, valued at $34,229,213.48. The trade was a 3.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,177,617 shares of company stock valued at $403,542,975 over the last 90 days. 3.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CRM. Morgan Stanley increased their target price on shares of Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Jefferies Financial Group boosted their target price on Salesforce from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. DA Davidson raised their price target on Salesforce from $250.00 to $300.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Barclays raised their price objective on shares of Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Finally, Citigroup upped their target price on shares of Salesforce from $368.00 to $390.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty have given a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $376.05.

Salesforce Trading Up 1.2 %

CRM stock opened at $327.52 on Wednesday. The business has a fifty day simple moving average of $336.76 and a 200-day simple moving average of $290.66. The company has a market cap of $313.44 billion, a price-to-earnings ratio of 53.87, a PEG ratio of 3.20 and a beta of 1.30. 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 52 week low of $212.00 and a 52 week high of $369.00.

Salesforce (NYSE:CRM) last issued its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The business had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. During the same period in the prior year, the business posted $1.62 EPS. The business’s revenue was up 8.3% on a year-over-year basis. On average, equities research analysts expect that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s dividend payout ratio is presently 26.32%.

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.