Salesforce Inc. (NYSE:CRM) Shares Purchased by Meeder Advisory Services Inc.

Meeder Advisory Services Inc. raised its position in Salesforce Inc. (NYSE:CRM) by 3.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 17,820 shares of the CRM provider’s stock after buying an additional 653 shares during the period. Meeder Advisory Services Inc.’s holdings in Salesforce were worth $4,782,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Bernard Wealth Management Corp. acquired a new stake in Salesforce in the 4th quarter worth about $25,000. Accredited Wealth Management LLC acquired a new stake in Salesforce in the 4th quarter worth about $27,000. Wood Tarver Financial Group LLC acquired a new stake in Salesforce in the 4th quarter worth about $35,000. Capital A Wealth Management LLC boosted its holdings in Salesforce by 450.0% in the 1st quarter. Capital A Wealth Management LLC now owns 110 shares of the CRM provider’s stock worth $30,000 after buying an additional 90 shares during the last quarter. Finally, CBIZ Investment Advisory Services LLC boosted its holdings in Salesforce by 314.8% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 112 shares of the CRM provider’s stock worth $30,000 after buying an additional 85 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Marc Benioff sold 2,250 shares of the business’s stock in a transaction on Friday, July 25th. The shares were sold at an average price of $269.38, for a total value of $606,105.00. Following the completion of the sale, the chief executive officer directly owned 11,911,571 shares of the company’s stock, valued at $3,208,738,995.98. The trade was a 0.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 35,729 shares of company stock valued at $9,697,901 over the last three months. 3.20% of the stock is owned by insiders.

Salesforce Price Performance

Shares of CRM opened at $270.20 on Tuesday. Salesforce Inc. has a 1-year low of $230.00 and a 1-year high of $369.00. The stock has a market cap of $258.31 billion, a PE ratio of 42.28, a price-to-earnings-growth ratio of 2.44 and a beta of 1.36. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a fifty day moving average price of $267.73 and a 200 day moving average price of $283.35.

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

Salesforce Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Wednesday, June 18th were given a $0.416 dividend. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $1.66 dividend on an annualized basis and a yield of 0.62%. Salesforce’s dividend payout ratio (DPR) is presently 25.98%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CRM. Needham & Company LLC reissued a “buy” rating and issued a $400.00 target price on shares of Salesforce in a research note on Wednesday, May 28th. Oppenheimer reissued an “outperform” rating and issued a $370.00 target price on shares of Salesforce in a research note on Tuesday, June 10th. Cantor Fitzgerald lowered shares of Salesforce from an “overweight” rating to a “cautious” rating in a research note on Thursday, July 10th. Citigroup decreased their target price on shares of Salesforce from $320.00 to $295.00 and set a “neutral” rating on the stock in a research note on Friday, May 30th. Finally, Sanford C. Bernstein raised their target price on shares of Salesforce from $243.00 to $255.00 and gave the stock an “underperform” rating in a research note on Thursday, May 29th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-seven 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 $348.16.

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.