LCM Capital Management Inc Buys 116 Shares of Salesforce, Inc. (NYSE:CRM)

LCM Capital Management Inc grew its stake in Salesforce, Inc. (NYSE:CRM) by 2.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,062 shares of the CRM provider’s stock after purchasing an additional 116 shares during the quarter. Salesforce makes up approximately 0.8% of LCM Capital Management Inc’s investment portfolio, making the stock its 22nd largest holding. LCM Capital Management Inc’s holdings in Salesforce were worth $1,358,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Foundations Investment Advisors LLC increased its position in Salesforce by 15.0% during the 4th quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock worth $12,194,000 after buying an additional 4,752 shares during the period. Nabity Jensen Investment Management Inc bought a new position in Salesforce during the third quarter worth about $1,215,000. Prime Capital Investment Advisors LLC raised its stake in Salesforce by 13.6% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock worth $15,885,000 after purchasing an additional 6,938 shares in the last quarter. Aljian Capital Management LLC boosted its holdings in Salesforce by 16.1% in the 3rd quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock valued at $3,629,000 after purchasing an additional 1,834 shares during the period. Finally, AIA Group Ltd grew its position in shares of Salesforce by 8.9% during the 3rd quarter. AIA Group Ltd now owns 24,028 shares of the CRM provider’s stock worth $6,577,000 after purchasing an additional 1,962 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Stock Performance

Shares of CRM stock opened at $347.41 on Thursday. The stock has a market capitalization of $332.47 billion, a PE ratio of 57.14, a PEG ratio of 3.09 and a beta of 1.31. The business’s 50 day simple moving average is $338.69 and its 200 day simple moving average is $299.31. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00.

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

Salesforce Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s dividend payout ratio is 26.32%.

Insider Buying and Selling

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $335.94, for a total value of $2,089,882.74. Following the completion of the sale, the chief financial officer now directly owns 46,750 shares in the company, valued at approximately $15,705,195. This trade represents a 11.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Parker Harris sold 652 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 transaction of $216,646.56. Following the transaction, the insider now owns 121,467 shares in the company, valued at $40,361,054.76. This represents a 0.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,111,420 shares of company stock valued at $384,366,700 over the last 90 days. Company insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

CRM has been the subject of several recent research reports. Bank of America boosted their price target on Salesforce from $390.00 to $440.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Royal Bank of Canada upped their target price on Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. TD Cowen upgraded Salesforce from a “hold” rating to a “buy” rating and raised their price target for the stock from $380.00 to $400.00 in a research report on Friday, January 17th. Jefferies Financial Group upped their price objective on shares of Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, JMP Securities reissued a “market outperform” rating and issued a $450.00 target price on shares of Salesforce in a report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have assigned a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and an average target price of $377.63.

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.