Triumph Capital Management Takes Position in Salesforce, Inc. (NYSE:CRM)

Triumph Capital Management bought a new position in shares of Salesforce, Inc. (NYSE:CRM) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,964 shares of the CRM provider’s stock, valued at approximately $657,000.

A number of other institutional investors have also recently bought and sold shares of CRM. Bernard Wealth Management Corp. bought a new stake in Salesforce in the 4th quarter valued at $25,000. Arlington Trust Co LLC raised its stake in shares of Salesforce by 85.1% in the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after purchasing an additional 40 shares during the period. Compass Financial Services Inc bought a new stake in shares of Salesforce in the fourth quarter valued at about $30,000. Asset Planning Inc acquired a new position in shares of Salesforce during the fourth quarter worth about $31,000. Finally, Collier Financial bought a new position in shares of Salesforce during the fourth quarter worth about $32,000. Institutional investors own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

CRM has been the subject of a number of recent research reports. Redburn Atlantic assumed coverage on Salesforce in a research report on Wednesday, February 19th. They set a “buy” rating for the company. Stephens assumed coverage on shares of Salesforce in a research report on Wednesday, March 19th. They issued an “equal weight” rating and a $311.00 target price for the company. Morgan Stanley cut their price target on shares of Salesforce from $405.00 to $393.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Loop Capital decreased their price objective on Salesforce from $330.00 to $300.00 and set a “hold” rating for the company in a report on Thursday, February 27th. Finally, Oppenheimer dropped their target price on Salesforce from $415.00 to $380.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $351.37.

Insider Activity

In other news, insider Miguel Milano sold 458 shares of Salesforce stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $307.97, for a total value of $141,050.26. Following the completion of the transaction, the insider now directly owns 5,864 shares of the company’s stock, valued at approximately $1,805,936.08. This trade represents a 7.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $335.94, for a total value of $2,089,882.74. Following the sale, the chief financial officer now owns 46,750 shares in the company, valued at approximately $15,705,195. The trade was a 11.74 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 52,051 shares of company stock valued at $15,027,714. Company insiders own 3.20% of the company’s stock.

Salesforce Price Performance

Shares of NYSE:CRM opened at $267.79 on Wednesday. The firm has a market cap of $257.45 billion, a PE ratio of 44.04, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The firm’s fifty day moving average is $271.56 and its 200-day moving average is $308.10. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

Salesforce Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date of this dividend was Thursday, April 10th. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s payout ratio is 26.10%.

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.