Roffman Miller Associates Inc. PA Cuts Stake in Salesforce, Inc. (NYSE:CRM)

Roffman Miller Associates Inc. PA lowered its position in shares of Salesforce, Inc. (NYSE:CRM) by 19.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 36,225 shares of the CRM provider’s stock after selling 8,555 shares during the quarter. Roffman Miller Associates Inc. PA’s holdings in Salesforce were worth $9,532,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of CRM. Capital Investment Advisors LLC grew its stake in Salesforce by 15.1% in the 3rd quarter. Capital Investment Advisors LLC now owns 6,584 shares of the CRM provider’s stock valued at $1,335,000 after acquiring an additional 864 shares during the last quarter. Impact Partnership Wealth LLC raised its holdings in Salesforce by 226.5% in the third quarter. Impact Partnership Wealth LLC now owns 320 shares of the CRM provider’s stock valued at $65,000 after buying an additional 222 shares during the period. DAVENPORT & Co LLC raised its holdings in Salesforce by 25.7% in the third quarter. DAVENPORT & Co LLC now owns 4,411 shares of the CRM provider’s stock valued at $894,000 after buying an additional 901 shares during the period. Founders Financial Securities LLC grew its position in Salesforce by 7.3% in the third quarter. Founders Financial Securities LLC now owns 3,314 shares of the CRM provider’s stock valued at $672,000 after acquiring an additional 226 shares in the last quarter. Finally, Nikulski Financial Inc. grew its position in Salesforce by 8.4% in the third quarter. Nikulski Financial Inc. now owns 8,428 shares of the CRM provider’s stock valued at $1,709,000 after acquiring an additional 652 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Stock Up 0.2 %

Shares of Salesforce stock traded up $0.68 during trading on Friday, hitting $273.82. 2,125,343 shares of the stock traded hands, compared to its average volume of 5,640,686. Salesforce, Inc. has a twelve month low of $190.76 and a twelve month high of $318.71. The stock has a market cap of $265.61 billion, a P/E ratio of 65.67, a PEG ratio of 2.12 and a beta of 1.28. The company has a fifty day moving average price of $296.28 and a two-hundred day moving average price of $263.44. 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 issued its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 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 company had revenue of $9.29 billion during the quarter, compared to analyst estimates of $9.22 billion. During the same period in the previous year, the company earned $1.01 earnings per share. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. Equities research analysts predict that Salesforce, Inc. will post 7.45 EPS for the current fiscal year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.58%. Salesforce’s dividend payout ratio (DPR) is presently 9.52%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CRM shares. StockNews.com downgraded shares of Salesforce from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 19th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $350.00 price objective on shares of Salesforce in a report on Wednesday, April 3rd. Citigroup raised their target price on Salesforce from $265.00 to $325.00 and gave the company a “neutral” rating in a research note on Monday, February 26th. Robert W. Baird lifted their price objective on shares of Salesforce from $310.00 to $355.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $350.00 price objective (up from $325.00) on shares of Salesforce in a research note on Friday, April 12th. Nine investment 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 currently has an average rating of “Moderate Buy” and a consensus price target of $310.61.

Insider Transactions at Salesforce

In other news, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $285.05, for a total transaction of $4,275,750.00. Following the sale, the chief executive officer now directly owns 13,656,166 shares in the company, valued at $3,892,690,118.30. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Salesforce news, COO Brian Millham sold 4,204 shares of the company’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $278.00, for a total value of $1,168,712.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Marc Benioff sold 15,000 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $285.05, for a total value of $4,275,750.00. Following the sale, the chief executive officer now owns 13,656,166 shares in the company, valued at approximately $3,892,690,118.30. The disclosure for this sale can be found here. Insiders sold a total of 620,793 shares of company stock worth $182,177,918 over the last three months. 3.70% of the stock is currently owned by insiders.

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.