Boyd Watterson Asset Management LLC OH Has $2.27 Million Position in Salesforce, Inc. (NYSE:CRM)

Boyd Watterson Asset Management LLC OH trimmed its position in shares of Salesforce, Inc. (NYSE:CRM) by 2.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 6,781 shares of the CRM provider’s stock after selling 204 shares during the period. Boyd Watterson Asset Management LLC OH’s holdings in Salesforce were worth $2,267,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Foundations Investment Advisors LLC boosted its position in Salesforce by 15.0% during the fourth quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock worth $12,194,000 after purchasing an additional 4,752 shares during the period. Nabity Jensen Investment Management Inc bought a new position in Salesforce during the third quarter valued at about $1,215,000. Prime Capital Investment Advisors LLC increased its position in shares of Salesforce by 13.6% during the third quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock valued at $15,885,000 after purchasing an additional 6,938 shares during the period. Aljian Capital Management LLC raised its stake in shares of Salesforce by 16.1% in the 3rd quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock valued at $3,629,000 after buying an additional 1,834 shares in the last quarter. Finally, AIA Group Ltd raised its position in Salesforce by 8.9% in the third quarter. AIA Group Ltd now owns 24,028 shares of the CRM provider’s stock worth $6,577,000 after purchasing an additional 1,962 shares in the last quarter. 80.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Royal Bank of Canada lifted their price objective on Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Northland Securities reaffirmed an “outperform” rating and set a $440.00 price objective (up previously from $400.00) on shares of Salesforce in a report on Wednesday, December 4th. JMP Securities reaffirmed a “market outperform” rating and issued a $450.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. Scotiabank lifted their price objective on Salesforce from $425.00 to $440.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, December 4th. Finally, Jefferies Financial Group boosted their price objective on shares of Salesforce from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-two have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $375.53.

Salesforce Stock Performance

Shares of CRM opened at $309.54 on Friday. The company has a market cap of $296.23 billion, a PE ratio of 50.91, a price-to-earnings-growth ratio of 2.63 and a beta of 1.31. The firm has a 50-day moving average of $333.34 and a 200-day moving average of $305.25. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share 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 the consensus estimate of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm’s revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the company posted $1.62 EPS. As a group, equities analysts forecast that Salesforce, Inc. will post 7.46 earnings per share for the current year.

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 annualized dividend and a yield of 0.52%. Salesforce’s payout ratio is currently 26.32%.

Insider Transactions at Salesforce

In other Salesforce news, Director G Mason Morfit sold 722,300 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $346.11, for a total value of $249,995,253.00. Following the sale, the director now owns 3,192,009 shares of the company’s stock, valued at approximately $1,104,786,234.99. This trade represents a 18.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $328.18, for a total value of $2,041,607.78. Following the completion of the sale, the chief financial officer now directly owns 46,750 shares in the company, valued at $15,342,415. This trade represents a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,102,833 shares of company stock valued at $381,389,136. 3.20% of the stock is currently owned by corporate insiders.

About Salesforce

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.