Cornerstone Select Advisors LLC Acquires Shares of 1,721 Salesforce, Inc. (NYSE:CRM)

Cornerstone Select Advisors LLC purchased a new stake in shares of Salesforce, Inc. (NYSE:CRM - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 1,721 shares of the CRM provider's stock, valued at approximately $575,000.

Other large investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in Salesforce during the 4th quarter worth approximately $3,599,867,000. Raymond James Financial Inc. purchased a new stake in Salesforce in the fourth quarter worth approximately $1,173,564,000. Invesco Ltd. grew its holdings in shares of Salesforce by 42.5% during the 4th quarter. Invesco Ltd. now owns 7,791,015 shares of the CRM provider's stock valued at $2,604,770,000 after purchasing an additional 2,325,156 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Salesforce by 18.3% in the fourth quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider's stock worth $3,752,830,000 after buying an additional 1,736,667 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in Salesforce by 23.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,938,536 shares of the CRM provider's stock valued at $2,988,422,000 after purchasing an additional 1,683,233 shares during the last quarter. 80.43% of the stock is owned by institutional investors.

Salesforce Stock Up 0.4 %

Shares of NYSE CRM opened at $273.65 on Wednesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a 50-day simple moving average of $268.22 and a two-hundred day simple moving average of $307.43. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The company has a market cap of $263.08 billion, a P/E ratio of 45.01, a PEG ratio of 2.58 and a beta of 1.42.

Salesforce Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 0.61%. The ex-dividend date of this dividend was Thursday, April 10th. This is an increase from Salesforce's previous quarterly dividend of $0.40. Salesforce's dividend payout ratio (DPR) is currently 26.10%.

Analysts Set New Price Targets

CRM has been the subject of a number of recent analyst reports. Guggenheim raised Salesforce from a "sell" rating to a "neutral" rating in a research report on Monday, April 21st. Citigroup restated a "buy" rating on shares of Salesforce in a research note on Wednesday, March 19th. Stephens started coverage on shares of Salesforce in a report on Wednesday, March 19th. They set an "equal weight" rating and a $311.00 price target on the stock. Loop Capital dropped their price target on shares of Salesforce from $330.00 to $300.00 and set a "hold" rating on the stock in a report on Thursday, February 27th. Finally, Jefferies Financial Group dropped their target price on Salesforce from $425.00 to $375.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have issued a buy rating and five have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $350.56.

Insider Activity

In other news, insider Miguel Milano sold 458 shares of Salesforce stock in a transaction that occurred on Monday, February 24th. The shares were 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 of the company's stock, valued at $1,805,936.08. The trade was a 7.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Sundeep G. Reddy sold 1,909 shares of the company's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $284.58, for a total value of $543,263.22. Following the transaction, the chief accounting officer now directly owns 11,310 shares in the company, valued at approximately $3,218,599.80. The trade was a 14.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 45,830 shares of company stock valued at $12,907,361. Corporate insiders own 3.20% of the company's stock.

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.

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