Trueblood Wealth Management LLC Takes Position in Salesforce, Inc. (NYSE:CRM)

Trueblood Wealth Management LLC bought a new position in Salesforce, Inc. (NYSE:CRM) in the 4th quarter, Holdings Channel.com reports. The fund bought 1,783 shares of the CRM provider’s stock, valued at approximately $469,000.

Other institutional investors have also modified their holdings of the company. Fairfield Bush & CO. grew its position in shares of Salesforce by 8.7% during the 1st quarter. Fairfield Bush & CO. now owns 4,468 shares of the CRM provider’s stock valued at $949,000 after buying an additional 357 shares during the last quarter. Roundview Capital LLC lifted its holdings in shares of Salesforce by 18.8% in the 1st quarter. Roundview Capital LLC now owns 24,037 shares of the CRM provider’s stock worth $5,104,000 after purchasing an additional 3,809 shares during the last quarter. Covestor Ltd increased its holdings in shares of Salesforce by 42.8% in the 1st quarter. Covestor Ltd now owns 621 shares of the CRM provider’s stock worth $132,000 after acquiring an additional 186 shares during the period. Ergoteles LLC acquired a new position in Salesforce during the 1st quarter valued at about $455,000. Finally, Mackenzie Financial Corp increased its stake in shares of Salesforce by 21.3% in the first quarter. Mackenzie Financial Corp now owns 860,950 shares of the CRM provider’s stock valued at $182,797,000 after purchasing an additional 151,440 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Robert W. Baird upped their price target on shares of Salesforce from $310.00 to $355.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. TheStreet raised shares of Salesforce from a “c+” rating to a “b-” rating in a research note on Friday, January 19th. Wolfe Research raised Salesforce from a “peer perform” rating to an “outperform” rating and set a $315.00 price target on the stock in a report on Monday, December 18th. Wells Fargo & Company boosted their price target on shares of Salesforce from $280.00 to $290.00 and gave the company an “equal weight” rating in a report on Wednesday, February 21st. Finally, Evercore ISI lifted their price target on Salesforce from $290.00 to $330.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Nine analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $304.32.

Insider Activity

In other Salesforce news, CFO Amy E. Weaver sold 12,249 shares of the company’s stock in a transaction on Friday, December 29th. The shares were sold at an average price of $264.94, for a total transaction of $3,245,250.06. Following the sale, the chief financial officer now owns 37,979 shares of the company’s stock, valued at $10,062,156.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Sundeep G. Reddy sold 216 shares of the company’s stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $278.71, for a total transaction of $60,201.36. Following the sale, the chief accounting officer now directly owns 2,869 shares in the company, valued at $799,618.99. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Amy E. Weaver sold 12,249 shares of the business’s stock in a transaction dated Friday, December 29th. The shares were sold at an average price of $264.94, for a total transaction of $3,245,250.06. Following the transaction, the chief financial officer now owns 37,979 shares in the company, valued at approximately $10,062,156.26. The disclosure for this sale can be found here. Over the last quarter, insiders sold 898,507 shares of company stock valued at $255,293,063. Company insiders own 3.70% of the company’s stock.

Salesforce Trading Down 0.1 %

Shares of Salesforce stock traded down $0.20 during trading on Thursday, reaching $301.18. 4,877,549 shares of the company were exchanged, compared to its average volume of 5,764,750. The business has a 50-day moving average price of $294.19 and a 200-day moving average price of $252.10. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a twelve month low of $187.31 and a twelve month high of $318.71. The firm has a market capitalization of $292.14 billion, a price-to-earnings ratio of 71.75, a P/E/G ratio of 2.35 and a beta of 1.28.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.06. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The business had revenue of $9.29 billion during the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter in the previous year, the company earned $1.01 EPS. The business’s revenue was up 10.8% on a year-over-year basis. Sell-side analysts anticipate that Salesforce, Inc. will post 7.45 EPS for the current fiscal year.

Salesforce Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 11th. Investors of record on Thursday, March 14th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend is Wednesday, March 13th. Salesforce’s dividend payout ratio is currently 9.52%.

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.