Kirtland Hills Capital Management LLC Buys 710 Shares of Salesforce, Inc. (NYSE:CRM)

Kirtland Hills Capital Management LLC increased its position in Salesforce, Inc. (NYSE:CRM) by 16.6% during the 4th quarter, Holdings Channel reports. The firm owned 4,993 shares of the CRM provider’s stock after acquiring an additional 710 shares during the quarter. Salesforce comprises approximately 1.1% of Kirtland Hills Capital Management LLC’s investment portfolio, making the stock its 27th largest holding. Kirtland Hills Capital Management LLC’s holdings in Salesforce were worth $1,669,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Infrastructure Capital Advisors LLC purchased a new stake in Salesforce in the third quarter worth about $27,000. Arlington Trust Co LLC grew its holdings in Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after acquiring an additional 40 shares in the last quarter. Compass Financial Services Inc bought a new position in shares of Salesforce during the fourth quarter valued at approximately $30,000. Asset Planning Inc bought a new stake in Salesforce during the 4th quarter valued at $31,000. Finally, Collier Financial bought a new stake in Salesforce during the 4th quarter valued at $32,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Trading Down 0.7 %

Shares of NYSE:CRM opened at $306.02 on Wednesday. The company has a market cap of $292.86 billion, a PE ratio of 50.33, a P/E/G ratio of 2.58 and a beta of 1.31. The company’s 50 day moving average is $331.46 and its two-hundred day moving average is $306.97. The company has a current ratio of 1.11, a quick 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 released its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The business had revenue of $9.44 billion during 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%. The company’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.62 EPS. Equities analysts predict that Salesforce, Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is 26.32%.

Insider Activity at Salesforce

In related news, insider Miguel Milano sold 458 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $307.97, for a total value of $141,050.26. Following the transaction, the insider now owns 5,864 shares in the company, valued at $1,805,936.08. The trade was a 7.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Marc Benioff sold 317,105 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $346.78, for a total value of $109,965,671.90. Following the sale, the chief executive officer now directly owns 12,162,457 shares of the company’s stock, valued at $4,217,696,838.46. The trade was a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,102,572 shares of company stock valued at $381,283,706 in the last ninety days. Insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CRM shares. Barclays raised their price objective on Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Needham & Company LLC restated a “buy” rating and issued a $400.00 price target on shares of Salesforce in a report on Thursday, February 6th. Robert W. Baird raised their price target on shares of Salesforce from $340.00 to $430.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Morgan Stanley raised their target price on shares of Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Finally, Bank of America raised their target price on shares of Salesforce from $390.00 to $440.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-two have issued a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus price target of $374.47.

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.