Citizens Business Bank Sells 572 Shares of Salesforce, Inc. (NYSE:CRM)

Citizens Business Bank decreased its position in shares of Salesforce, Inc. (NYSE:CRM) by 4.9% in the 4th quarter, Holdings Channel reports. The fund owned 11,072 shares of the CRM provider’s stock after selling 572 shares during the quarter. Citizens Business Bank’s holdings in Salesforce were worth $2,913,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Bear Mountain Capital Inc. purchased a new position in shares of Salesforce in the fourth quarter worth about $26,000. Kathleen S. Wright Associates Inc. bought a new stake in Salesforce during the 4th quarter valued at $31,000. BKM Wealth Management LLC purchased a new stake in shares of Salesforce during the fourth quarter worth $34,000. Pacifica Partners Inc. boosted its holdings in shares of Salesforce by 333.3% in the fourth quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 100 shares during the period. Finally, AlphaMark Advisors LLC grew its position in shares of 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. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CRM. Oppenheimer upped their price target on Salesforce from $300.00 to $325.00 and gave the company an “outperform” rating in a research report on Monday, February 12th. Wolfe Research reiterated an “outperform” rating and issued a $365.00 target price on shares of Salesforce in a research note on Tuesday, April 16th. Argus raised their price target on shares of Salesforce from $290.00 to $354.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. KeyCorp initiated coverage on shares of Salesforce in a report on Thursday, March 21st. They issued a “sector weight” rating on the stock. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $350.00 price objective on shares of Salesforce in a research note on Thursday, March 7th. Nine investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Salesforce has an average rating of “Moderate Buy” and an average target price of $310.61.

Salesforce Trading Down 2.5 %

Shares of Salesforce stock traded down $6.80 during trading on Tuesday, reaching $268.94. 5,211,266 shares of the stock were exchanged, compared to its average volume of 5,632,453. Salesforce, Inc. has a 1 year low of $190.76 and a 1 year high of $318.71. The firm has a market cap of $260.87 billion, a price-to-earnings ratio of 65.03, a price-to-earnings-growth ratio of 2.11 and a beta of 1.28. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The stock’s fifty day moving average is $295.69 and its 200 day moving average is $265.20.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.06. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The business had revenue of $9.29 billion during the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter last year, the business posted $1.01 EPS. The business’s revenue was up 10.8% on a year-over-year basis. As a group, equities research analysts expect that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were issued a $0.40 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $1.60 annualized dividend and a yield of 0.59%. Salesforce’s dividend payout ratio (DPR) is presently 9.52%.

Insider Transactions at Salesforce

In related news, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $274.79, for a total transaction of $4,121,850.00. Following the transaction, the chief executive officer now owns 12,737,327 shares in the company, valued at $3,500,090,086.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $274.79, for a total transaction of $4,121,850.00. Following the sale, the chief executive officer now directly owns 12,737,327 shares of the company’s stock, valued at $3,500,090,086.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Srinivas Tallapragada sold 10,000 shares of the business’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $285.20, for a total value of $2,852,000.00. Following the completion of the transaction, the insider now directly owns 60,416 shares of the company’s stock, valued at approximately $17,230,643.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 625,793 shares of company stock valued at $183,318,868. Company insiders own 3.70% of the company’s stock.

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.