Bank OZK Decreases Stake in Salesforce, Inc. (NYSE:CRM)

Bank OZK decreased its position in Salesforce, Inc. (NYSE:CRM) by 6.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,559 shares of the CRM provider’s stock after selling 309 shares during the period. Bank OZK’s holdings in Salesforce were worth $1,200,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bear Mountain Capital Inc. purchased a new stake in Salesforce in the 4th quarter valued at about $26,000. Kathleen S. Wright Associates Inc. purchased a new stake in shares of Salesforce during the 4th quarter worth approximately $31,000. BKM Wealth Management LLC purchased a new stake in shares of Salesforce during the 4th quarter worth approximately $34,000. Pacifica Partners Inc. increased its stake in shares of Salesforce by 333.3% during the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 100 shares during the last quarter. Finally, AlphaMark Advisors LLC increased its stake in shares of Salesforce by 892.9% during the 4th quarter. AlphaMark Advisors LLC now owns 139 shares of the CRM provider’s stock worth $37,000 after purchasing an additional 125 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Canaccord Genuity Group restated a “buy” rating and set a $350.00 price target on shares of Salesforce in a research note on Thursday, March 7th. Evercore ISI raised their price objective on shares of Salesforce from $290.00 to $330.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. StockNews.com downgraded shares of Salesforce from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 19th. BMO Capital Markets raised their price objective on shares of Salesforce from $325.00 to $335.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Finally, UBS Group raised their price objective on shares of Salesforce from $285.00 to $310.00 and gave the stock a “neutral” rating in a report on Friday, February 16th. Nine investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and a consensus price target of $310.61.

Insider Buying and Selling at Salesforce

In other news, insider Srinivas Tallapragada sold 10,000 shares of Salesforce stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $283.12, for a total transaction of $2,831,200.00. Following the sale, the insider now owns 60,416 shares of the company’s stock, valued at approximately $17,104,977.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Srinivas Tallapragada sold 10,000 shares of the business’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $283.12, for a total transaction of $2,831,200.00. Following the sale, the insider now owns 60,416 shares of the company’s stock, valued at $17,104,977.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Sundeep G. Reddy sold 2,425 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $273.15, for a total transaction of $662,388.75. Following the sale, the chief accounting officer now directly owns 5,856 shares in the company, valued at approximately $1,599,566.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 620,793 shares of company stock worth $182,177,918. 3.70% of the stock is currently owned by company insiders.

Salesforce Trading Up 0.4 %

NYSE:CRM traded up $1.15 during trading hours on Friday, reaching $274.29. The company’s stock had a trading volume of 3,754,585 shares, compared to its average volume of 5,162,527. The firm has a 50-day simple moving average of $295.97 and a 200-day simple moving average of $263.90. Salesforce, Inc. has a 1 year low of $190.76 and a 1 year high of $318.71. The firm has a market capitalization of $266.06 billion, a price-to-earnings ratio of 65.31, a PEG ratio of 2.10 and a beta of 1.28. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.06. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The firm had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter in the previous year, the company earned $1.01 earnings per share. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. Research analysts expect that Salesforce, Inc. will post 7.45 EPS for the current fiscal year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date was Wednesday, March 13th. Salesforce’s payout ratio is 9.52%.

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.