CMH Wealth Management LLC Sells 982 Shares of Salesforce, Inc. (NYSE:CRM)

CMH Wealth Management LLC lessened its stake in shares of Salesforce, Inc. (NYSE:CRM) by 3.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 31,437 shares of the CRM provider’s stock after selling 982 shares during the period. Salesforce accounts for approximately 2.4% of CMH Wealth Management LLC’s holdings, making the stock its 12th biggest position. CMH Wealth Management LLC’s holdings in Salesforce were worth $10,523,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Pacer Advisors Inc. increased its stake in Salesforce by 14.5% during the second quarter. Pacer Advisors Inc. now owns 96,205 shares of the CRM provider’s stock worth $24,734,000 after acquiring an additional 12,193 shares during the last quarter. Kowal Investment Group LLC purchased a new stake in Salesforce during the 2nd quarter valued at $215,000. ProShare Advisors LLC lifted its position in Salesforce by 8.7% in the second quarter. ProShare Advisors LLC now owns 296,331 shares of the CRM provider’s stock worth $76,187,000 after buying an additional 23,750 shares during the last quarter. Gabelli Funds LLC boosted its stake in Salesforce by 11.9% during the second quarter. Gabelli Funds LLC now owns 2,405 shares of the CRM provider’s stock worth $618,000 after buying an additional 255 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in Salesforce by 7.0% during the second quarter. EverSource Wealth Advisors LLC now owns 6,315 shares of the CRM provider’s stock valued at $1,634,000 after acquiring an additional 411 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on CRM. Citigroup increased their price objective on shares of Salesforce from $368.00 to $390.00 and gave the stock a “neutral” rating in a research report 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 report on Monday, January 6th. JPMorgan Chase & Co. upped their price objective on Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Northland Capmk upgraded Salesforce from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 2nd. Finally, Bank of America upped their price target on shares of Salesforce from $390.00 to $440.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have given a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $377.63.

Salesforce Stock Performance

Shares of Salesforce stock opened at $324.77 on Tuesday. The company has a 50 day moving average price of $337.31 and a 200 day moving average price of $292.02. The firm has a market capitalization of $310.81 billion, a P/E ratio of 53.42, a PEG ratio of 2.87 and a beta of 1.30. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00.

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

Salesforce Dividend Announcement

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

Insiders Place Their Bets

In other Salesforce news, insider R David Schmaier sold 1,785 shares of the company’s stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $344.00, for a total value of $614,040.00. Following the sale, the insider now owns 19,116 shares in the company, valued at approximately $6,575,904. This represents a 8.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $329.88, for a total transaction of $2,052,183.48. Following the transaction, the chief financial officer now directly owns 45,861 shares of the company’s stock, valued at approximately $15,128,626.68. This trade represents a 11.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,173,477 shares of company stock valued at $402,596,964. 3.20% of the stock is owned by 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.