Capstone Triton Financial Group LLC Raises Position in Salesforce, Inc. (NYSE:CRM)

Capstone Triton Financial Group LLC increased its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 2.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,648 shares of the CRM provider’s stock after buying an additional 113 shares during the quarter. Capstone Triton Financial Group LLC’s holdings in Salesforce were worth $1,452,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Thrivent Financial for Lutherans grew its position in Salesforce by 9.2% during the 2nd quarter. Thrivent Financial for Lutherans now owns 819,088 shares of the CRM provider’s stock worth $210,588,000 after purchasing an additional 68,803 shares during the last quarter. Columbus Hill Capital Management L.P. lifted its stake in shares of Salesforce by 87.6% during the second quarter. Columbus Hill Capital Management L.P. now owns 73,759 shares of the CRM provider’s stock worth $18,963,000 after buying an additional 34,435 shares during the period. Garden State Investment Advisory Services LLC grew its holdings in shares of Salesforce by 9.2% during the second quarter. Garden State Investment Advisory Services LLC now owns 2,557 shares of the CRM provider’s stock valued at $658,000 after buying an additional 216 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of Salesforce by 14.5% in the 2nd quarter. Pacer Advisors Inc. now owns 96,205 shares of the CRM provider’s stock valued at $24,734,000 after acquiring an additional 12,193 shares during the period. Finally, AE Wealth Management LLC raised its stake in Salesforce by 1.1% in the 2nd quarter. AE Wealth Management LLC now owns 150,790 shares of the CRM provider’s stock worth $38,768,000 after acquiring an additional 1,628 shares during the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Stock Performance

NYSE CRM opened at $266.57 on Friday. Salesforce, Inc. has a fifty-two week low of $193.68 and a fifty-two week high of $318.71. The firm has a market capitalization of $258.31 billion, a P/E ratio of 47.94, a price-to-earnings-growth ratio of 2.26 and a beta of 1.29. The stock’s fifty day moving average is $254.14 and its two-hundred day moving average is $266.67. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04.

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

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.60%. The ex-dividend date of this dividend is Wednesday, September 18th. Salesforce’s payout ratio is presently 28.78%.

Insider Activity at Salesforce

In related news, insider Srinivas Tallapragada sold 942 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $242.32, for a total transaction of $228,265.44. Following the completion of the sale, the insider now directly owns 22,154 shares of the company’s stock, valued at approximately $5,368,357.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Srinivas Tallapragada sold 942 shares of Salesforce stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $242.32, for a total value of $228,265.44. Following the completion of the sale, the insider now owns 22,154 shares in the company, valued at approximately $5,368,357.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $262.97, for a total value of $1,104,474.00. Following the transaction, the insider now owns 117,581 shares of the company’s stock, valued at $30,920,275.57. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,576 shares of company stock worth $16,957,573. Insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Bank of America reiterated a “buy” rating and set a $325.00 price target on shares of Salesforce in a research note on Friday, September 6th. Macquarie cut their price target on shares of Salesforce from $330.00 to $275.00 and set an “outperform” rating on the stock in a report on Friday, May 31st. Mizuho reduced their price target on shares of Salesforce from $345.00 to $300.00 and set a “buy” rating for the company in a research report on Thursday, May 30th. Sanford C. Bernstein upped their price objective on shares of Salesforce from $234.00 to $236.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Finally, FBN Securities raised shares of Salesforce to a “strong-buy” rating in a report on Thursday, August 29th. Nine investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $306.00.

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.