Salesforce, Inc. (NYSE:CRM) Shares Bought by Veracity Capital LLC

Veracity Capital LLC raised its position in Salesforce, Inc. (NYSE:CRM) by 33.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,366 shares of the CRM provider’s stock after acquiring an additional 340 shares during the quarter. Veracity Capital LLC’s holdings in Salesforce were worth $411,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Capital World Investors boosted its stake in shares of Salesforce by 2.4% during the 4th quarter. Capital World Investors now owns 19,561,325 shares of the CRM provider’s stock valued at $5,147,402,000 after buying an additional 457,463 shares during the last quarter. Fisher Asset Management LLC boosted its stake in shares of Salesforce by 5.3% during the 4th quarter. Fisher Asset Management LLC now owns 14,921,042 shares of the CRM provider’s stock valued at $3,926,323,000 after buying an additional 752,566 shares during the last quarter. Capital International Investors boosted its stake in shares of Salesforce by 76.4% during the 4th quarter. Capital International Investors now owns 13,708,615 shares of the CRM provider’s stock valued at $3,607,493,000 after buying an additional 5,935,973 shares during the last quarter. Norges Bank purchased a new position in shares of Salesforce during the 4th quarter valued at approximately $2,762,331,000. Finally, Parnassus Investments LLC boosted its stake in shares of Salesforce by 0.3% during the 4th quarter. Parnassus Investments LLC now owns 5,951,415 shares of the CRM provider’s stock valued at $1,566,055,000 after buying an additional 18,397 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Stock Performance

Shares of NYSE CRM opened at $262.00 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The business’s 50 day moving average is $258.48 and its two-hundred day moving average is $276.21. The company has a market cap of $253.88 billion, a P/E ratio of 46.93, a P/E/G ratio of 2.29 and a beta of 1.29. Salesforce, Inc. has a 12 month low of $193.68 and a 12 month high of $318.71.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Wednesday, May 29th. The CRM provider reported $2.44 EPS for the quarter, topping the consensus estimate of $2.38 by $0.06. The company had revenue of $9.13 billion for the quarter, compared to the consensus estimate of $9.15 billion. Salesforce had a return on equity of 11.57% and a net margin of 15.30%. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.15 EPS. On average, equities analysts expect that Salesforce, Inc. will post 7.47 EPS for the current year.

Salesforce Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Barclays reduced their target price on Salesforce from $355.00 to $305.00 and set an “overweight” rating for the company in a research note on Thursday, May 30th. Wells Fargo & Company reduced their price objective on Salesforce from $300.00 to $250.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 30th. Evercore ISI reduced their price objective on Salesforce from $330.00 to $300.00 and set an “outperform” rating on the stock in a research note on Thursday, May 30th. Needham & Company LLC restated a “buy” rating and set a $345.00 price objective on shares of Salesforce in a research note on Thursday, May 30th. Finally, Stifel Nicolaus reduced their price objective on Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a research note on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $292.79.

Insider Activity

In related news, Director G Mason Morfit purchased 428,000 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were acquired at an average price of $233.17 per share, with a total value of $99,796,760.00. Following the purchase, the director now directly owns 3,914,309 shares in the company, valued at $912,699,429.53. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director G Mason Morfit purchased 428,000 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were acquired at an average price of $233.17 per share, with a total value of $99,796,760.00. Following the purchase, the director now directly owns 3,914,309 shares in the company, valued at $912,699,429.53. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Sundeep G. Reddy sold 2,425 shares of the business’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total value of $662,388.75. Following the completion of the sale, the chief accounting officer now directly owns 5,856 shares in the company, valued at approximately $1,599,566.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 484,152 shares of company stock worth $131,779,561. Company insiders own 3.20% of the company’s stock.

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.