Wedge Capital Management L L P NC Has $455,000 Holdings in Salesforce, Inc. (NYSE:CRM)

Wedge Capital Management L L P NC cut its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 2.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,729 shares of the CRM provider’s stock after selling 43 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Salesforce were worth $455,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Bear Mountain Capital Inc. bought a new position in shares of Salesforce during the fourth quarter worth approximately $26,000. Kathleen S. Wright Associates Inc. bought a new position in shares of Salesforce during the fourth quarter worth approximately $31,000. BKM Wealth Management LLC bought a new position in shares of Salesforce during the fourth quarter worth approximately $34,000. Pacifica Partners Inc. increased its holdings in shares of Salesforce by 333.3% during the fourth quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 100 shares during the period. Finally, AlphaMark Advisors LLC increased its holdings in shares of Salesforce by 892.9% during the fourth quarter. AlphaMark Advisors LLC now owns 139 shares of the CRM provider’s stock worth $37,000 after purchasing an additional 125 shares during the period. 80.43% of the stock is owned by institutional investors.

Insider Activity at Salesforce

In related news, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $315.54, for a total value of $4,733,100.00. Following the transaction, the chief executive officer now owns 13,311,166 shares in the company, valued at $4,200,205,319.64. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $315.54, for a total value of $4,733,100.00. Following the transaction, the chief executive officer now owns 13,311,166 shares in the company, valued at $4,200,205,319.64. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Srinivas Tallapragada sold 10,000 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $283.12, for a total transaction of $2,831,200.00. Following the transaction, the insider now owns 60,416 shares in the company, valued at approximately $17,104,977.92. The disclosure for this sale can be found here. Insiders have sold a total of 620,793 shares of company stock worth $182,177,918 over the last quarter. Company insiders own 3.70% of the company’s stock.

Wall Street Analysts Forecast Growth

CRM has been the topic of a number of recent analyst reports. Mizuho reissued a “buy” rating and issued a $345.00 price objective (up from $325.00) on shares of Salesforce in a research note on Thursday, February 29th. StockNews.com cut shares of Salesforce from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 19th. Stifel Nicolaus reissued a “buy” rating and issued a $350.00 price objective on shares of Salesforce in a research note on Wednesday, April 3rd. TheStreet raised shares of Salesforce from a “c+” rating to a “b-” rating in a research note on Friday, January 19th. Finally, Bank of America lifted their price objective on shares of Salesforce from $350.00 to $360.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Nine investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $310.61.

Salesforce Price Performance

Shares of NYSE:CRM opened at $274.21 on Friday. The firm has a market cap of $265.98 billion, a PE ratio of 65.29, a price-to-earnings-growth ratio of 2.12 and a beta of 1.28. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. Salesforce, Inc. has a 52 week low of $190.76 and a 52 week high of $318.71. The firm’s fifty day moving average is $295.97 and its 200-day moving average is $263.90.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.06. The business had revenue of $9.29 billion for the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. Salesforce’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.01 earnings per share. Sell-side analysts predict that Salesforce, Inc. will post 7.45 earnings per share for the current year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 14th were issued a $0.40 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $1.60 annualized dividend and a yield of 0.58%. Salesforce’s payout ratio is 9.52%.

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.