McAdam LLC Increases Position in Salesforce, Inc. (NYSE:CRM)

McAdam LLC increased its position in shares of Salesforce, Inc. (NYSE:CRM) by 6.0% during the 2nd quarter, Holdings Channel reports. The firm owned 792 shares of the CRM provider’s stock after acquiring an additional 45 shares during the period. McAdam LLC’s holdings in Salesforce were worth $204,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Signature Resources Capital Management LLC bought a new stake in Salesforce during the fourth quarter valued at about $26,000. Ruedi Wealth Management Inc. raised its stake in 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 period. Piscataqua Savings Bank lifted its holdings in Salesforce by 2,400.0% in the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after purchasing an additional 96 shares in the last quarter. Red Tortoise LLC bought a new position in Salesforce in the 1st quarter worth approximately $33,000. Finally, Creekmur Asset Management LLC purchased a new stake in Salesforce during the 4th quarter valued at approximately $35,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Stock Performance

Shares of Salesforce stock opened at $264.00 on Friday. Salesforce, Inc. has a 52 week low of $193.68 and a 52 week high of $318.71. The company has a market capitalization of $255.82 billion, a PE ratio of 47.48, a price-to-earnings-growth ratio of 2.22 and a beta of 1.29. The stock’s fifty day moving average is $252.09 and its two-hundred day moving average is $272.13. 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 (NYSE:CRM) last posted its quarterly 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. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. The firm had revenue of $9.13 billion for the quarter, compared to analysts’ expectations of $9.15 billion. During the same period in the prior year, the business posted $1.15 earnings per share. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. As a group, analysts expect that Salesforce, Inc. will post 7.47 earnings per share for the current year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Tuesday, July 9th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.61%. The ex-dividend date of this dividend was Tuesday, July 9th. Salesforce’s dividend payout ratio is presently 28.78%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on CRM shares. Raymond James restated a “strong-buy” rating and set a $325.00 target price (down previously from $380.00) on shares of Salesforce in a research report on Thursday, May 30th. Needham & Company LLC reissued a “buy” rating and set a $345.00 price objective on shares of Salesforce in a report on Thursday, May 30th. Morgan Stanley cut their price objective on Salesforce from $350.00 to $320.00 and set an “overweight” rating for the company in a research report on Thursday, May 30th. Canaccord Genuity Group decreased their target price on Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a research report on Thursday, May 30th. Finally, UBS Group cut their price target on Salesforce from $310.00 to $250.00 and set a “neutral” rating for the company in a report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and an average target price of $291.50.

Insider Activity at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 897 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total transaction of $229,434.66. Following the transaction, the chief financial officer now directly owns 51,109 shares in the company, valued at approximately $13,072,660.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Salesforce news, CFO Amy E. Weaver sold 897 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total transaction of $229,434.66. Following the transaction, the chief financial officer now owns 51,109 shares of the company’s stock, valued at approximately $13,072,660.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Sundeep G. Reddy sold 413 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total transaction of $105,637.14. Following the completion of the sale, the chief accounting officer now owns 6,431 shares of the company’s stock, valued at approximately $1,644,921.18. The disclosure for this sale can be found here. Over the last quarter, insiders sold 142,964 shares of company stock worth $35,273,059. Company insiders own 3.20% of the company’s stock.

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.