Accel Wealth Management Buys 50 Shares of Salesforce, Inc. (NYSE:CRM)

Accel Wealth Management lifted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 2.8% in the 1st quarter, Holdings Channel reports. The fund owned 1,857 shares of the CRM provider’s stock after acquiring an additional 50 shares during the quarter. Accel Wealth Management’s holdings in Salesforce were worth $559,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Graypoint LLC lifted its stake in Salesforce by 0.3% in the fourth quarter. Graypoint LLC now owns 10,504 shares of the CRM provider’s stock valued at $2,764,000 after acquiring an additional 36 shares during the last quarter. Chase Investment Counsel Corp lifted its stake in shares of Salesforce by 0.3% during the 4th quarter. Chase Investment Counsel Corp now owns 10,377 shares of the CRM provider’s stock worth $2,730,000 after buying an additional 36 shares during the last quarter. JFS Wealth Advisors LLC lifted its stake in shares of Salesforce by 11.4% during the 4th quarter. JFS Wealth Advisors LLC now owns 353 shares of the CRM provider’s stock worth $93,000 after buying an additional 36 shares during the last quarter. Opes Wealth Management LLC lifted its stake in shares of Salesforce by 2.9% during the 4th quarter. Opes Wealth Management LLC now owns 1,295 shares of the CRM provider’s stock worth $341,000 after buying an additional 37 shares during the last quarter. Finally, Prentice Wealth Management LLC lifted its stake in shares of Salesforce by 1.7% during the 4th quarter. Prentice Wealth Management LLC now owns 2,294 shares of the CRM provider’s stock worth $604,000 after buying an additional 38 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on CRM shares. DA Davidson cut their target price on shares of Salesforce from $300.00 to $230.00 and set a “neutral” rating for the company in a research note on Thursday, May 30th. JPMorgan Chase & Co. dropped their price objective on shares of Salesforce from $310.00 to $300.00 and set an “overweight” rating for the company in a research note on Thursday, May 30th. UBS Group dropped their price objective on shares of Salesforce from $310.00 to $250.00 and set a “neutral” rating for the company in a research note on Thursday, May 30th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Salesforce from $350.00 to $300.00 and set a “buy” rating for the company in a research note on Thursday, May 30th. Finally, KeyCorp assumed coverage on shares of Salesforce in a research note on Thursday, March 21st. They issued a “sector weight” rating for the company. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $292.79.

Insider Transactions at Salesforce

In related news, insider Parker Harris sold 4,200 shares of the stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $256.24, for a total transaction of $1,076,208.00. Following the completion of the transaction, the insider now owns 116,693 shares in the company, valued at $29,901,414.32. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, insider Parker Harris sold 4,200 shares of the stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $256.24, for a total transaction of $1,076,208.00. Following the completion of the transaction, the insider now owns 116,693 shares in the company, valued at $29,901,414.32. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Amy E. Weaver sold 5,864 shares of the company’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $274.77, for a total transaction of $1,611,251.28. Following the sale, the chief financial officer now directly owns 45,231 shares in the company, valued at $12,428,121.87. The disclosure for this sale can be found here. Insiders sold a total of 499,152 shares of company stock worth $136,281,661 in the last quarter. 3.20% of the stock is currently owned by corporate insiders.

Salesforce Stock Up 1.9 %

CRM stock traded up $4.76 during midday trading on Thursday, reaching $260.95. 4,755,729 shares of the company’s stock traded hands, compared to its average volume of 9,006,645. The company has a market cap of $252.86 billion, a price-to-earnings ratio of 46.93, a P/E/G ratio of 2.25 and a beta of 1.29. The firm’s fifty day moving average price is $258.72 and its 200-day moving average price is $276.32. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 52 week low of $193.68 and a 52 week high of $318.71.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.06. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. The firm had revenue of $9.13 billion during the quarter, compared to analyst estimates of $9.15 billion. During the same quarter in the prior year, the business posted $1.15 EPS. The business’s revenue was up 10.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Salesforce, Inc. will post 7.47 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Tuesday, July 9th will be paid a $0.40 dividend. The ex-dividend date is Tuesday, July 9th. This represents a $1.60 annualized dividend and a dividend yield of 0.61%. Salesforce’s payout ratio is 7.19%.

Salesforce 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.