Pointe Capital Management LLC purchased a new position in shares of Salesforce Inc. (NYSE:CRM – Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 3,125 shares of the CRM provider’s stock, valued at approximately $490,000.
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Other large investors have also made changes to their positions in the company. Odyssean LLC bought a new position in Salesforce in the second quarter valued at approximately $2,807,000. Invst LLC bought a new stake in Salesforce during the second quarter worth $828,000. First Bancorp Inc ME bought a new stake in Salesforce during the second quarter worth $452,000. Roberts Glore & Co. Inc. IL acquired a new stake in shares of Salesforce in the 2nd quarter valued at $746,000. Finally, Jupiter Topco LLC bought a new position in shares of Salesforce in the 2nd quarter valued at $19,035,000. Institutional investors and hedge funds own 80.43% of the company’s stock.
Salesforce Trading Down 1.6%
NYSE CRM opened at $205.74 on Wednesday. The company has a market cap of $168.50 billion, a price-to-earnings ratio of 23.81, a price-to-earnings-growth ratio of 1.13 and a beta of 1.16. Salesforce Inc. has a twelve month low of $146.32 and a twelve month high of $269.11. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.15. The business’s fifty day moving average is $176.11 and its 200 day moving average is $181.49.
Salesforce (NYSE:CRM – Get Free Report) last issued its earnings results on Wednesday, May 27th. The CRM provider reported $3.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.13 by $0.75. Salesforce had a return on equity of 18.72% and a net margin of 18.73%.The business had revenue of $11.13 billion during the quarter, compared to analysts’ expectations of $11.05 billion. During the same quarter in the prior year, the firm earned $2.58 EPS. The business’s revenue for the quarter was up 13.3% compared to the same quarter last year. As a group, sell-side analysts expect that Salesforce Inc. will post 10.27 EPS for the current fiscal year.
Salesforce Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Thursday, June 11th were paid a $0.44 dividend. The ex-dividend date of this dividend was Thursday, June 11th. This represents a $1.76 annualized dividend and a dividend yield of 0.9%. Salesforce’s dividend payout ratio is currently 20.37%.
Analysts Set New Price Targets
A number of equities analysts have recently commented on the company. Wells Fargo & Company boosted their price target on Salesforce from $200.00 to $205.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 12th. Wolfe Research cut Salesforce from an “outperform” rating to a “hold” rating in a research report on Wednesday, July 1st. Canaccord Genuity Group reissued a “buy” rating and set a $225.00 target price on shares of Salesforce in a research note on Tuesday. The Goldman Sachs Group initiated coverage on shares of Salesforce in a report on Thursday, June 18th. They issued a “neutral” rating for the company. Finally, UBS Group raised their price target on shares of Salesforce from $185.00 to $210.00 and gave the company a “neutral” rating in a research note on Wednesday, August 12th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, seventeen have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and a consensus target price of $248.72.
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