Investors Research Corp lifted its holdings in shares of Salesforce, Inc. (NYSE: CRM – Get Rating) by 938.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,834 shares of the CRM provider’s stock after purchasing an additional 2,561 shares during the quarter. Investors Research Corp’s holdings in Salesforce were worth $ 602,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mayflower Financial Advisors LLC grew its position in shares of Salesforce by 1.2% in the 4th quarter. Mayflower Financial Advisors LLC now owns 3,794 shares of the CRM provider’s stock valued at $ 964,000 after buying an additional 46 shares during the last quarter. Insight Wealth Strategies LLC boosted its position in shares of Salesforce by 0.5% during the 4th quarter. Insight Wealth Strategies LLC now owns 9,652 shares of the CRM provider’s stock valued at $ 2,453,000 after purchasing an additional 47 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc. boosted its position in shares of Salesforce by 4.1% during the 4th quarter. Texas Capital Bank Wealth Management Services Inc. now owns 1,204 shares of the CRM provider’s stock valued at $ 306,000 after purchasing an additional 47 shares in the last quarter. Carret Asset Management LLC boosted its position in shares of Salesforce by 2.3% during the 4th quarter. Carret Asset Management LLC now owns 2,092 shares of the CRM provider’s stock valued at $ 532,000 after purchasing an additional 48 shares in the last quarter. Finally, Bedel Financial Consulting Inc. boosted its position in shares of Salesforce by 7.0% during the 4th quarter. Bedel Financial Consulting Inc. now owns 738 shares of the CRM provider’s stock valued at $ 188,000 after purchasing an additional 48 shares in the last quarter. 77.75% of the stock is currently owned by institutional investors.
In other Salesforce news, insider Srinivas Tallapragada sold 20,000 shares of the firm’s stock in a transaction dated Thursday, April 7th. The stock was sold at an average price of $ 200.00, for a total transaction of $ 4,000,000.00. Following the sale, the insider now owns 44,879 shares in the company, valued at $ 8,975,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Parker Harris sold 1,712 shares of Salesforce stock in a transaction dated Monday, April 18th. The stock was sold at an average price of $ 188.16, for a total value of $ 322,129.92. Following the completion of the transaction, the insider now owns 91,586 shares in the company, valued at approximately $ 17,232,821.76. The disclosure for this sale can be found here. Insiders have sold 110,743 shares of company stock worth $ 20,344,911 in the last 90 days. Company insiders own 4.10% of the company stock.
CRM has been the topic of several research analyst reports. Jefferies Financial Group cut their target price on Salesforce from $ 330.00 to $ 260.00 in a research report on Monday, May 23rd. Oppenheimer restated a “buy” rating and set a $ 205.00 target price on shares of Salesforce in a research report on Friday, June 17th. Wedbush dropped their price target on Salesforce from $ 315.00 to $ 275.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 2nd. Bank of America dropped their price target on Salesforce from $ 360.00 to $ 300.00 and set a “buy” rating on the stock in a research note on Wednesday, March 2nd. Finally, Morgan Stanley dropped their price target on Salesforce from $ 360.00 to $ 291.00 in a research note on Monday, May 16th. Four equities research analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and an average price target of $ 272.50.
Shares of CRM stock opened at $ 173.05 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.03 and a current ratio of 1.03. Salesforce, Inc. has a 52-week low of $ 154.55 and a 52-week high of $ 311.75. The company has a market capitalization of $ 172.18 billion, a PE ratio of 168.01, a price-to-earnings-growth ratio of 4.59 and a beta of 1.16. The business’s fifty day moving average is $ 171.67 and its 200 day moving average is $ 204.70.
Salesforce (NYSE: CRM – Get Rating) last issued its quarterly earnings data on Tuesday, May 31st. The CRM provider reported $ 0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $ 0.94 by $ 0.04. Salesforce had a return on equity of 3.92% and a net margin of 3.59%. The company had revenue of $ 7.41 billion for the quarter, compared to the consensus estimate of $ 7.38 billion. During the same quarter last year, the business posted $ 0.74 earnings per share. The firm’s revenue was up 24.3% compared to the same quarter last year. On average, sell-side analysts forecast that Salesforce, Inc. will post 2.18 EPS for the current fiscal year.
About Salesforce: (Get Rating)
Salesforce, Inc. provides customer relationship management technology that brings companies and customers together worldwide. Its Customer 360 platform empowers its customers to work together to deliver connected experiences for their customers. The company service offerings include Sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and relationship intelligence, and deliver quotes, contracts, and invoices; and Service that enables companies to deliver trusted and highly personalized customer service and support at scale.
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