Main Street Financial Solutions LLC Purchases 522 Shares of Salesforce, Inc. (NYSE:CRM)

Main Street Financial Solutions LLC grew its position in shares of Salesforce, Inc. (NYSE:CRM) by 12.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,701 shares of the CRM provider’s stock after purchasing an additional 522 shares during the quarter. Main Street Financial Solutions LLC’s holdings in Salesforce were worth $1,209,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in CRM. Fox Hill Wealth Management grew its position in Salesforce by 4.0% in the 1st quarter. Fox Hill Wealth Management now owns 985 shares of the CRM provider’s stock valued at $297,000 after purchasing an additional 38 shares during the period. Pinnacle Wealth Planning Services Inc. grew its position in Salesforce by 0.8% in the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 4,946 shares of the CRM provider’s stock valued at $1,490,000 after purchasing an additional 38 shares during the period. Glassman Wealth Services grew its position in Salesforce by 2.9% in the 4th quarter. Glassman Wealth Services now owns 1,369 shares of the CRM provider’s stock valued at $360,000 after purchasing an additional 39 shares during the period. Blue Barn Wealth LLC grew its position in Salesforce by 1.8% in the 1st quarter. Blue Barn Wealth LLC now owns 2,207 shares of the CRM provider’s stock valued at $665,000 after purchasing an additional 39 shares during the period. Finally, Catalyst Financial Partners LLC grew its position in Salesforce by 0.8% in the 2nd quarter. Catalyst Financial Partners LLC now owns 4,876 shares of the CRM provider’s stock valued at $1,254,000 after purchasing an additional 39 shares during the period. Institutional investors own 80.43% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on CRM shares. JMP Securities reaffirmed a “market outperform” rating and set a $342.00 price objective on shares of Salesforce in a report on Wednesday, August 28th. Raymond James lifted their price objective on shares of Salesforce from $325.00 to $350.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 29th. Wells Fargo & Company lifted their price objective on shares of Salesforce from $250.00 to $275.00 and gave the stock an “equal weight” rating in a report on Thursday, August 29th. Evercore ISI reaffirmed an “outperform” rating and set a $300.00 price objective on shares of Salesforce in a report on Monday, August 26th. Finally, BNP Paribas raised shares of Salesforce to a “strong-buy” rating in a report on Thursday, August 29th. Nine investment analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $304.41.

Salesforce Trading Up 1.6 %

Shares of CRM opened at $253.46 on Friday. The business’s 50-day moving average price is $253.73 and its 200-day moving average price is $268.67. Salesforce, Inc. has a twelve month low of $193.68 and a twelve month high of $318.71. The stock has a market cap of $245.60 billion, a PE ratio of 45.59, a P/E/G ratio of 2.21 and a beta of 1.29. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.20. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The firm had revenue of $9.33 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same period in the prior year, the business posted $1.63 earnings per share. The company’s revenue was up 8.5% on a year-over-year basis. On average, equities analysts forecast that Salesforce, Inc. will post 7.54 EPS for the current fiscal year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.63%. The ex-dividend date of this dividend is Wednesday, September 18th. Salesforce’s dividend payout ratio is presently 28.78%.

Insider Activity

In other news, CFO Amy E. Weaver sold 897 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total transaction of $229,434.66. Following the completion of the transaction, the chief financial officer now owns 51,109 shares of the company’s stock, valued at $13,072,660.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Amy E. Weaver sold 897 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total transaction of $229,434.66. Following the completion of the transaction, the chief financial officer now owns 51,109 shares of the company’s stock, valued at $13,072,660.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Sundeep G. Reddy sold 413 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total value of $105,637.14. Following the transaction, the chief accounting officer now directly owns 6,431 shares of the company’s stock, valued at approximately $1,644,921.18. The disclosure for this sale can be found here. Insiders have sold a total of 62,376 shares of company stock worth $15,878,005 over the last ninety days. Company insiders own 3.20% of the company’s stock.

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.