Telemus Capital LLC Buys 653 Shares of Salesforce, Inc. (NYSE:CRM)

Telemus Capital LLC grew its holdings in Salesforce, Inc. (NYSE:CRM) by 5.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,780 shares of the CRM provider’s stock after acquiring an additional 653 shares during the quarter. Telemus Capital LLC’s holdings in Salesforce were worth $3,626,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Bear Mountain Capital Inc. bought a new stake in shares of Salesforce in the fourth quarter valued at about $26,000. Kathleen S. Wright Associates Inc. bought a new stake in shares of Salesforce in the fourth quarter valued at about $31,000. Pacifica Partners Inc. raised its stake in Salesforce by 333.3% in the fourth quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 100 shares in the last quarter. BKM Wealth Management LLC acquired a new position in Salesforce in the fourth quarter valued at about $34,000. Finally, AlphaMark Advisors LLC raised its stake in Salesforce by 892.9% in the fourth quarter. AlphaMark Advisors LLC now owns 139 shares of the CRM provider’s stock valued at $37,000 after purchasing an additional 125 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Analysts Set New Price Targets

CRM has been the subject of a number of analyst reports. Wolfe Research reaffirmed an “outperform” rating and issued a $365.00 price target on shares of Salesforce in a research note on Tuesday, April 16th. Citigroup boosted their target price on Salesforce from $265.00 to $325.00 and gave the stock a “neutral” rating in a research note on Monday, February 26th. Mizuho reissued a “buy” rating and set a $345.00 target price (up previously from $325.00) on shares of Salesforce in a research note on Thursday, February 29th. JMP Securities reissued a “market outperform” rating and set a $342.00 target price on shares of Salesforce in a research note on Monday, April 15th. Finally, Wells Fargo & Company boosted their target price on Salesforce from $280.00 to $290.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 21st. Nine equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and an average target price of $310.61.

Insider Activity at Salesforce

In related news, insider Srinivas Tallapragada sold 10,000 shares of Salesforce stock in a transaction on Monday, January 29th. The shares were sold at an average price of $283.12, for a total value of $2,831,200.00. Following the completion of the sale, the insider now owns 60,416 shares of the company’s stock, valued at approximately $17,104,977.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Srinivas Tallapragada sold 10,000 shares of Salesforce stock in a transaction on Monday, January 29th. The stock was sold at an average price of $283.12, for a total transaction of $2,831,200.00. Following the sale, the insider now directly owns 60,416 shares in the company, valued at approximately $17,104,977.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $278.62, for a total value of $4,179,300.00. Following the sale, the chief executive officer now owns 13,701,166 shares in the company, valued at $3,817,418,870.92. The disclosure for this sale can be found here. In the last 90 days, insiders sold 596,379 shares of company stock valued at $175,587,970. 3.70% of the stock is owned by company insiders.

Salesforce Price Performance

Salesforce stock opened at $273.83 on Tuesday. The stock has a market capitalization of $265.62 billion, a price-to-earnings ratio of 65.20, a PEG ratio of 2.08 and a beta of 1.28. Salesforce, Inc. has a 52-week low of $190.57 and a 52-week high of $318.71. The stock’s 50 day moving average price is $297.00 and its two-hundred day moving average price is $262.79. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The firm had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same period in the prior year, the business earned $1.01 EPS. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. On average, equities analysts predict that Salesforce, Inc. will post 7.45 earnings per share for the current year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 14th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.58%. The ex-dividend date was Wednesday, March 13th. Salesforce’s payout ratio is currently 9.52%.

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.