Institute for Wealth Management LLC. Has $3.47 Million Stock Position in Salesforce, Inc. (NYSE:CRM)

Institute for Wealth Management LLC. cut its position in Salesforce, Inc. (NYSE:CRM) by 1.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 10,391 shares of the CRM provider’s stock after selling 123 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Salesforce were worth $3,474,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Infrastructure Capital Advisors LLC acquired a new position in shares of Salesforce during the third quarter worth approximately $27,000. Godsey & Gibb Inc. increased its stake in Salesforce by 300.0% during the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 90 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new position in shares of Salesforce in the second quarter valued at $33,000. Annapolis Financial Services LLC grew its holdings in shares of Salesforce by 135.6% during the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock valued at $38,000 after buying an additional 80 shares during the last quarter. Finally, Friedenthal Financial bought a new stake in shares of Salesforce during the fourth quarter worth about $55,000. 80.43% of the stock is owned by institutional investors.

Salesforce Stock Performance

Shares of CRM opened at $343.51 on Friday. The business has a 50-day simple moving average of $338.53 and a two-hundred day simple moving average of $296.43. The stock has a market cap of $328.74 billion, a price-to-earnings ratio of 56.50, a PEG ratio of 3.20 and a beta of 1.30. 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.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The business had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.35 billion. During the same period in the prior year, the firm posted $1.62 earnings per share. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, 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 given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s dividend payout ratio is presently 26.32%.

Wall Street Analysts Forecast Growth

CRM has been the topic of several analyst reports. Barclays lifted their target price on Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Stifel Nicolaus upped their target price on shares of Salesforce from $390.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. JPMorgan Chase & Co. boosted their price target on shares of Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. BMO Capital Markets increased their price objective on shares of Salesforce from $385.00 to $425.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Finally, Robert W. Baird upped their target price on Salesforce from $340.00 to $430.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. One 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $377.63.

Insider Activity at Salesforce

In other news, CFO Amy E. Weaver sold 897 shares of the company’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $298,055.16. Following the transaction, the chief financial officer now directly owns 46,750 shares in the company, valued at approximately $15,534,090. This represents a 1.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Sundeep G. Reddy sold 436 shares of the firm’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $144,874.08. Following the transaction, the chief accounting officer now owns 7,057 shares in the company, valued at $2,344,899.96. The trade was a 5.82 % 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 90 days. 3.20% of the stock is owned by corporate insiders.

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.