Cypress Capital Management LLC WY Has $267,000 Stake in Salesforce, Inc. (NYSE:CRM)

Cypress Capital Management LLC WY lessened its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 13.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 800 shares of the CRM provider’s stock after selling 120 shares during the period. Cypress Capital Management LLC WY’s holdings in Salesforce were worth $267,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of CRM. Infrastructure Capital Advisors LLC acquired a new position in Salesforce during the third quarter valued at approximately $27,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Salesforce in the 2nd quarter valued at $33,000. Godsey & Gibb Inc. increased its position in shares of 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 buying an additional 90 shares in the last quarter. 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 worth $38,000 after buying an additional 80 shares during the period. Finally, FSA Wealth Management LLC bought a new position in Salesforce during the third quarter worth about $53,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Stock Down 3.0 %

Shares of CRM opened at $343.51 on Friday. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The stock has a fifty day moving average of $338.53 and a 200-day moving average of $296.43. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a market capitalization of $328.74 billion, a price-to-earnings ratio of 56.50, a PEG ratio of 3.01 and a beta of 1.30.

Salesforce (NYSE:CRM) last announced 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). The business had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The company’s revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.62 earnings per share. As a group, sell-side analysts anticipate that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were paid a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.47%. Salesforce’s payout ratio is 26.32%.

Wall Street Analysts Forecast Growth

CRM has been the subject of several recent analyst reports. Scotiabank increased their price target on Salesforce from $425.00 to $440.00 and gave the stock a “sector outperform” rating in a report on Wednesday, December 4th. Morgan Stanley raised their target price on shares of Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Loop Capital upped their price target on shares of Salesforce from $340.00 to $360.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. UBS Group raised their price objective on shares of Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Finally, Wedbush reaffirmed an “outperform” rating and issued a $425.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have issued a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $377.63.

Insider Buying and Selling

In related news, insider Parker Harris sold 3,970 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $296.74, for a total transaction of $1,178,057.80. Following the completion of the sale, the insider now owns 119,402 shares of the company’s stock, valued at $35,431,349.48. This trade represents a 3.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Brian Millham sold 708 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $235,254.24. Following the completion of the transaction, the chief operating officer now directly owns 1,239 shares in the company, valued at approximately $411,694.92. This trade represents a 36.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,108,669 shares of company stock valued at $383,286,905 over the last ninety days. 3.20% of the stock is owned by company 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.