Dana Investment Advisors Inc. Has $22.57 Million Holdings in Salesforce, Inc. (NYSE:CRM)

Dana Investment Advisors Inc. decreased its holdings in Salesforce, Inc. (NYSE:CRM) by 12.5% during the second quarter, Holdings Channel.com reports. The firm owned 87,792 shares of the CRM provider’s stock after selling 12,544 shares during the period. Salesforce comprises about 0.8% of Dana Investment Advisors Inc.’s portfolio, making the stock its 24th biggest holding. Dana Investment Advisors Inc.’s holdings in Salesforce were worth $22,571,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Aveo Capital Partners LLC raised its holdings in shares of Salesforce by 44.7% during the fourth quarter. Aveo Capital Partners LLC now owns 1,605 shares of the CRM provider’s stock worth $422,000 after acquiring an additional 496 shares in the last quarter. Eagle Asset Management Inc. raised its stake in shares of Salesforce by 0.8% during the 4th quarter. Eagle Asset Management Inc. now owns 35,954 shares of the CRM provider’s stock worth $9,461,000 after purchasing an additional 285 shares in the last quarter. Rathbones Group PLC lifted its holdings in shares of Salesforce by 0.6% during the 4th quarter. Rathbones Group PLC now owns 6,863 shares of the CRM provider’s stock valued at $1,806,000 after buying an additional 40 shares during the last quarter. CWA Asset Management Group LLC grew its stake in shares of Salesforce by 14.7% in the 4th quarter. CWA Asset Management Group LLC now owns 6,402 shares of the CRM provider’s stock valued at $1,685,000 after buying an additional 819 shares in the last quarter. Finally, Cornerstone Advisory LLC increased its holdings in Salesforce by 5.2% in the fourth quarter. Cornerstone Advisory LLC now owns 1,119 shares of the CRM provider’s stock worth $294,000 after buying an additional 55 shares during the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Stock Down 1.1 %

Shares of CRM stock opened at $273.68 on Tuesday. The stock has a market cap of $265.20 billion, a P/E ratio of 49.22, a price-to-earnings-growth ratio of 2.39 and a beta of 1.29. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a fifty day moving average price of $256.65 and a 200 day moving average price of $264.81. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71.

Salesforce (NYSE:CRM) last issued its 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 business had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same period in the previous year, the business earned $1.63 EPS. The firm’s revenue was up 8.5% on a year-over-year basis. Analysts predict that Salesforce, Inc. will post 7.54 earnings per share for the current year.

Salesforce Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.58%. Salesforce’s dividend payout ratio (DPR) is presently 28.78%.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Wedbush lifted their target price on shares of Salesforce from $315.00 to $325.00 and gave the company an “outperform” rating in a research note on Friday. Wells Fargo & Company lifted their price objective on shares of Salesforce from $250.00 to $275.00 and gave the company an “equal weight” rating in a research note on Thursday, August 29th. Phillip Securities reissued an “accumulate” rating and set a $305.00 target price on shares of Salesforce in a research report on Friday, August 30th. Canaccord Genuity Group boosted their price target on Salesforce from $300.00 to $315.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Finally, Evercore ISI reissued an “outperform” rating and set a $300.00 price objective on shares of Salesforce in a report on Monday, August 26th. Eight equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $308.03.

Insider Activity at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 897 shares of the stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total transaction of $229,434.66. Following the completion of the transaction, the chief financial officer now directly owns 51,109 shares in the company, valued at $13,072,660.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Salesforce news, CFO Amy E. Weaver sold 897 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total transaction of $229,434.66. Following the sale, the chief financial officer now directly owns 51,109 shares of the company’s stock, valued at $13,072,660.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Parker Harris sold 2,800 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $241.22, for a total transaction of $675,416.00. Following the sale, the insider now directly owns 117,581 shares of the company’s stock, valued at approximately $28,362,888.82. The disclosure for this sale can be found here. Insiders have sold a total of 67,985 shares of company stock valued at $17,632,363 in the last 90 days. 3.20% of the stock is owned by corporate insiders.

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.