ICA Group Wealth Management LLC Has $31,000 Position in Salesforce, Inc. (NYSE:CRM)

ICA Group Wealth Management LLC decreased its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 91.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 122 shares of the CRM provider’s stock after selling 1,288 shares during the quarter. ICA Group Wealth Management LLC’s holdings in Salesforce were worth $31,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. MayTech Global Investments LLC grew its stake in Salesforce by 1.8% during the 2nd quarter. MayTech Global Investments LLC now owns 102,870 shares of the CRM provider’s stock valued at $26,448,000 after acquiring an additional 1,772 shares in the last quarter. Taurus Asset Management LLC grew its position in Salesforce by 79.8% during the second quarter. Taurus Asset Management LLC now owns 98,788 shares of the CRM provider’s stock valued at $25,398,000 after purchasing an additional 43,858 shares in the last quarter. Pinion Investment Advisors LLC increased its stake in Salesforce by 11.2% in the 2nd quarter. Pinion Investment Advisors LLC now owns 1,405 shares of the CRM provider’s stock valued at $361,000 after buying an additional 141 shares during the period. Clear Investment Research LLC lifted its position in Salesforce by 816.7% in the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after buying an additional 98 shares in the last quarter. Finally, Diversify Wealth Management LLC acquired a new stake in shares of Salesforce during the 2nd quarter valued at $4,740,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Stock Performance

Shares of NYSE CRM opened at $256.81 on Tuesday. The firm has a market capitalization of $248.85 billion, a price-to-earnings ratio of 46.19, a PEG ratio of 2.26 and a beta of 1.29. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71. The business has a fifty day simple moving average of $253.55 and a 200 day simple moving average of $267.55. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.20. The firm had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.63 EPS. Sell-side analysts expect that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date is Wednesday, September 18th. Salesforce’s payout ratio is 28.78%.

Analyst Ratings Changes

Several brokerages recently issued reports on CRM. Loop Capital increased their price objective on Salesforce from $240.00 to $270.00 and gave the stock a “hold” rating in a report on Thursday, August 29th. Erste Group Bank reaffirmed a “hold” rating on shares of Salesforce in a research note on Wednesday, September 11th. Roth Mkm reissued a “buy” rating and issued a $335.00 price target on shares of Salesforce in a research note on Thursday, August 29th. Raymond James raised their price objective on shares of Salesforce from $325.00 to $350.00 and gave the company a “strong-buy” rating in a research report on Thursday, August 29th. Finally, Barclays decreased their target price on shares of Salesforce from $355.00 to $305.00 and set an “overweight” rating for the company in a research report on Thursday, May 30th. Nine research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $305.55.

Insider Activity

In related news, insider Parker Harris sold 5,600 shares of the business’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $250.17, for a total value of $1,400,952.00. Following the sale, the insider now owns 116,693 shares of the company’s stock, valued at approximately $29,193,087.81. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total value of $105,637.14. Following the completion of the transaction, the chief accounting officer now owns 6,431 shares in the company, valued at $1,644,921.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Parker Harris sold 5,600 shares of the stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $250.17, for a total value of $1,400,952.00. Following the sale, the insider now owns 116,693 shares in the company, valued at $29,193,087.81. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 62,376 shares of company stock worth $15,878,005. Company insiders own 3.20% of the company’s stock.

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.