RFP Financial Group LLC Has $117,000 Stake in Salesforce, Inc. (NYSE:CRM)

RFP Financial Group LLC increased its stake in shares of Salesforce, Inc. (NYSE:CRM) by 18.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 387 shares of the CRM provider’s stock after buying an additional 61 shares during the quarter. RFP Financial Group LLC’s holdings in Salesforce were worth $117,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CRM. Marks Group Wealth Management Inc boosted its position in shares of Salesforce by 0.7% during the 4th quarter. Marks Group Wealth Management Inc now owns 35,220 shares of the CRM provider’s stock worth $9,268,000 after acquiring an additional 257 shares in the last quarter. Spartan Planning & Wealth Management boosted its holdings in shares of Salesforce by 66.3% in the 4th quarter. Spartan Planning & Wealth Management now owns 1,567 shares of the CRM provider’s stock valued at $412,000 after purchasing an additional 625 shares in the last quarter. Roman Butler Fullerton & Co. raised its holdings in shares of Salesforce by 1.4% during the 4th quarter. Roman Butler Fullerton & Co. now owns 7,881 shares of the CRM provider’s stock worth $2,206,000 after buying an additional 105 shares in the last quarter. Parnassus Investments LLC lifted its position 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 worth $1,566,055,000 after buying an additional 18,397 shares during the last quarter. Finally, TD Asset Management Inc boosted its stake in Salesforce by 32.6% in the fourth quarter. TD Asset Management Inc now owns 789,525 shares of the CRM provider’s stock valued at $207,756,000 after buying an additional 194,224 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Salesforce Trading Up 0.1 %

Shares of CRM stock traded up $0.29 on Friday, hitting $247.64. The stock had a trading volume of 4,467,924 shares, compared to its average volume of 6,860,676. The company’s 50 day moving average price is $253.86 and its 200-day moving average price is $275.33. Salesforce, Inc. has a 1 year low of $193.68 and a 1 year high of $318.71. The firm has a market capitalization of $239.96 billion, a P/E ratio of 44.54, a P/E/G ratio of 2.21 and a beta of 1.29. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

Salesforce (NYSE:CRM) last issued its quarterly 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 business had revenue of $9.13 billion for the quarter, compared to analysts’ expectations of $9.15 billion. During the same quarter in the prior year, the company earned $1.15 earnings per share. The business’s quarterly revenue was up 10.7% on a year-over-year basis. Analysts anticipate that Salesforce, Inc. will post 7.47 earnings per share for the current year.

Salesforce Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Tuesday, July 9th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, July 9th. This represents a $1.60 dividend on an annualized basis and a yield of 0.65%. Salesforce’s dividend payout ratio (DPR) is presently 28.78%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Wolfe Research reissued an “outperform” rating and set a $365.00 price target on shares of Salesforce in a research note on Tuesday, April 16th. Wedbush cut their price target on Salesforce from $325.00 to $315.00 and set an “outperform” rating on the stock in a report on Wednesday, May 29th. Oppenheimer reduced their price objective on Salesforce from $325.00 to $280.00 and set an “outperform” rating for the company in a research note on Thursday, May 30th. BMO Capital Markets lowered their target price on shares of Salesforce from $335.00 to $265.00 and set an “outperform” rating on the stock in a report on Thursday, May 30th. Finally, TD Cowen lowered their price objective on Salesforce from $330.00 to $285.00 and set a “hold” rating for the company in a research note on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and a consensus price target of $292.79.

Insider Buying and Selling

In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $286.90, for a total value of $4,303,500.00. Following the sale, the chief executive officer now owns 12,512,327 shares of the company’s stock, valued at approximately $3,589,786,616.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $286.90, for a total transaction of $4,303,500.00. Following the transaction, the chief executive officer now owns 12,512,327 shares of the company’s stock, valued at $3,589,786,616.30. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director G Mason Morfit bought 428,000 shares of Salesforce stock in a transaction dated Monday, June 3rd. The stock was acquired at an average cost of $233.17 per share, with a total value of $99,796,760.00. Following the completion of the acquisition, the director now directly owns 3,914,309 shares of the company’s stock, valued at approximately $912,699,429.53. The disclosure for this purchase can be found here. Insiders sold 388,578 shares of company stock valued at $104,113,439 in the last three months. 3.20% of the stock is owned by corporate insiders.

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.