HBK Sorce Advisory LLC Has $1.44 Million Stock Holdings in Salesforce Inc. (NYSE:CRM)

HBK Sorce Advisory LLC raised its holdings in Salesforce Inc. (NYSE:CRM) by 11.4% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 5,360 shares of the CRM provider’s stock after acquiring an additional 548 shares during the period. HBK Sorce Advisory LLC’s holdings in Salesforce were worth $1,438,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in CRM. Mainstream Capital Management LLC grew its stake in shares of Salesforce by 0.5% in the fourth quarter. Mainstream Capital Management LLC now owns 6,409 shares of the CRM provider’s stock worth $2,143,000 after acquiring an additional 33 shares during the last quarter. Pine Valley Investments Ltd Liability Co boosted its holdings in Salesforce by 0.5% in the 4th quarter. Pine Valley Investments Ltd Liability Co now owns 7,082 shares of the CRM provider’s stock valued at $2,369,000 after purchasing an additional 35 shares during the period. Wulff Hansen & CO. boosted its holdings in Salesforce by 3.5% in the 4th quarter. Wulff Hansen & CO. now owns 1,035 shares of the CRM provider’s stock valued at $346,000 after purchasing an additional 35 shares during the period. WR Wealth Planners LLC grew its position in Salesforce by 9.0% in the 4th quarter. WR Wealth Planners LLC now owns 449 shares of the CRM provider’s stock worth $150,000 after purchasing an additional 37 shares during the last quarter. Finally, Fielder Capital Group LLC increased its holdings in shares of Salesforce by 3.0% during the 4th quarter. Fielder Capital Group LLC now owns 1,289 shares of the CRM provider’s stock worth $431,000 after purchasing an additional 38 shares during the period. 80.43% of the stock is owned by institutional investors.

Salesforce Stock Down 1.1%

Shares of NYSE:CRM opened at $268.11 on Thursday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.14. The firm has a market cap of $256.31 billion, a P/E ratio of 41.96, a P/E/G ratio of 2.46 and a beta of 1.38. Salesforce Inc. has a 12 month low of $230.00 and a 12 month high of $369.00. The company’s 50-day moving average price is $269.39 and its two-hundred day moving average price is $295.75.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.55 by $0.03. The company had revenue of $9.83 billion for the quarter, compared to analyst estimates of $9.74 billion. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. Salesforce’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the business earned $2.44 earnings per share. As a group, research analysts forecast that Salesforce Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th will be given a $0.416 dividend. The ex-dividend date is Wednesday, June 18th. This represents a $1.66 dividend on an annualized basis and a yield of 0.62%. Salesforce’s payout ratio is 25.98%.

Insider Activity

In related news, insider Miguel Milano sold 405 shares of Salesforce stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $262.35, for a total value of $106,251.75. Following the completion of the sale, the insider now directly owns 9,933 shares in the company, valued at $2,605,922.55. This trade represents a 3.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Oscar Munoz bought 3,882 shares of the business’s stock in a transaction on Thursday, April 3rd. The shares were acquired at an average price of $257.28 per share, for a total transaction of $998,760.96. Following the completion of the transaction, the director now owns 11,843 shares in the company, valued at approximately $3,046,967.04. This trade represents a 48.76% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 26,284 shares of company stock valued at $6,996,762. Company insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

CRM has been the subject of several research reports. Northland Securities reduced their target price on shares of Salesforce from $423.00 to $396.00 and set an “outperform” rating for the company in a research note on Thursday, May 29th. Oppenheimer reiterated an “outperform” rating and issued a $370.00 price objective on shares of Salesforce in a research report on Tuesday, June 10th. Macquarie restated a “neutral” rating and set a $320.00 price objective on shares of Salesforce in a research report on Thursday, March 20th. Jefferies Financial Group cut their target price on Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Finally, Wells Fargo & Company lifted their price target on shares of Salesforce from $255.00 to $275.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 29th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-eight have given a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $349.08.

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.