Salesforce, Inc. (NYSE:CRM) is AMI Asset Management Corp’s 5th Largest Position

AMI Asset Management Corp decreased its position in shares of Salesforce, Inc. (NYSE:CRM) by 2.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 230,050 shares of the CRM provider’s stock after selling 5,464 shares during the quarter. Salesforce makes up about 4.1% of AMI Asset Management Corp’s holdings, making the stock its 5th largest position. AMI Asset Management Corp’s holdings in Salesforce were worth $76,913,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in CRM. Infrastructure Capital Advisors LLC acquired a new position in Salesforce in the third quarter valued at $27,000. Strategic Investment Solutions Inc. IL acquired a new position in Salesforce in the 2nd quarter valued at about $33,000. Godsey & Gibb Inc. increased its position in Salesforce by 300.0% in the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 90 shares during the period. Annapolis Financial Services LLC raised its stake in Salesforce by 135.6% during the 3rd quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock valued at $38,000 after acquiring an additional 80 shares during the last quarter. Finally, FSA Wealth Management LLC purchased a new position in shares of Salesforce in the 3rd quarter valued at approximately $53,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently weighed in on CRM. Citigroup increased their price target on Salesforce from $368.00 to $390.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Oppenheimer restated an “outperform” rating and issued a $415.00 price target (up from $385.00) on shares of Salesforce in a research note on Wednesday, December 4th. Guggenheim cut Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 price objective for the company. in a research report on Monday, January 6th. DA Davidson boosted their target price on shares of Salesforce from $250.00 to $300.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Finally, Cfra set a $343.00 price target on shares of Salesforce in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, Salesforce currently has an average rating of “Moderate Buy” and an average price target of $377.63.

Insider Buying and Selling at Salesforce

In related news, CAO Sundeep G. Reddy sold 413 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $117,824.77. Following the sale, the chief accounting officer now directly owns 7,006 shares of the company’s stock, valued at approximately $1,998,741.74. This represents a 5.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Amy E. Weaver sold 897 shares of the business’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total transaction of $255,905.13. Following the sale, the chief financial officer now owns 52,930 shares of the company’s stock, valued at approximately $15,100,399.70. The trade was a 1.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,173,477 shares of company stock valued at $402,596,964 in the last three months. Corporate insiders own 3.20% of the company’s stock.

Salesforce Stock Up 1.5 %

Shares of NYSE:CRM opened at $324.77 on Tuesday. The company has a 50 day moving average of $336.97 and a two-hundred day moving average of $292.47. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $310.81 billion, a price-to-earnings ratio of 53.42, a price-to-earnings-growth ratio of 2.93 and a beta of 1.30.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. During the same period last year, the firm earned $1.62 EPS. The business’s quarterly revenue was up 8.3% on a year-over-year basis. As a group, analysts forecast that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were issued a dividend of $0.40 per share. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 annualized dividend and a yield of 0.49%. Salesforce’s dividend payout ratio is presently 26.32%.

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.