Bryn Mawr Capital Management LLC Acquires 233 Shares of Salesforce Inc. (NYSE:CRM)

Bryn Mawr Capital Management LLC raised its position in shares of Salesforce Inc. (NYSE:CRM) by 3.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,636 shares of the CRM provider’s stock after purchasing an additional 233 shares during the period. Bryn Mawr Capital Management LLC’s holdings in Salesforce were worth $2,049,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of CRM. Norges Bank purchased a new stake in Salesforce during the 4th quarter valued at about $3,599,867,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in shares of Salesforce by 926.4% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,256,211 shares of the CRM provider’s stock valued at $1,422,979,000 after buying an additional 3,841,521 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Salesforce by 30,456.9% in the 1st quarter. GAMMA Investing LLC now owns 3,801,588 shares of the CRM provider’s stock valued at $1,020,194,000 after buying an additional 3,789,147 shares during the period. Invesco Ltd. lifted its holdings in shares of Salesforce by 42.5% in the 4th quarter. Invesco Ltd. now owns 7,791,015 shares of the CRM provider’s stock valued at $2,604,770,000 after buying an additional 2,325,156 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of Salesforce by 18.3% in the 4th quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider’s stock valued at $3,752,830,000 after buying an additional 1,736,667 shares during the period. 80.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $275.00 price target on shares of Salesforce in a report on Monday. Guggenheim raised Salesforce from a “sell” rating to a “neutral” rating in a report on Monday, April 21st. BMO Capital Markets reduced their target price on Salesforce from $350.00 to $335.00 and set an “outperform” rating for the company in a report on Thursday, July 10th. Macquarie reissued a “neutral” rating and set a $320.00 target price on shares of Salesforce in a report on Thursday, March 20th. Finally, Needham & Company LLC reissued a “buy” rating and set a $400.00 target price on shares of Salesforce in a report on Wednesday, May 28th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-seven have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $348.16.

Insiders Place Their Bets

In other news, CEO Marc Benioff sold 2,250 shares of the business’s stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $260.30, for a total transaction of $585,675.00. Following the transaction, the chief executive officer owned 11,955,566 shares in the company, valued at approximately $3,112,033,829.80. The trade was a 0.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Miguel Milano sold 405 shares of the company’s stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $262.35, for a total transaction of $106,251.75. Following the completion of the sale, the insider directly owned 9,933 shares in the company, valued at approximately $2,605,922.55. The trade was a 3.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 31,569 shares of company stock worth $8,533,528 in the last 90 days. 3.20% of the stock is owned by corporate insiders.

Salesforce Trading Down 0.8%

NYSE CRM opened at $257.64 on Wednesday. Salesforce Inc. has a twelve month low of $230.00 and a twelve month high of $369.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.07 and a current ratio of 1.07. The stock has a market cap of $246.31 billion, a price-to-earnings ratio of 40.32, a PEG ratio of 2.35 and a beta of 1.36. The firm’s 50 day moving average price is $271.51 and its two-hundred day moving average price is $287.73.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share for the quarter, topping the consensus estimate of $2.55 by $0.03. The firm had revenue of $9.83 billion for the quarter, compared to analysts’ expectations of $9.74 billion. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.44 EPS. Equities analysts anticipate that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Wednesday, June 18th were paid a $0.416 dividend. This represents a $1.66 annualized dividend and a dividend yield of 0.65%. The ex-dividend date was Wednesday, June 18th. Salesforce’s payout ratio is presently 25.98%.

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.