EHP Funds Inc. Makes New $903,000 Investment in Salesforce, Inc. (NYSE:CRM)

EHP Funds Inc. bought a new position in Salesforce, Inc. (NYSE:CRM - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,700 shares of the CRM provider's stock, valued at approximately $903,000. Salesforce accounts for approximately 0.8% of EHP Funds Inc.'s holdings, making the stock its 21st biggest position.

Other institutional investors have also made changes to their positions in the company. Bernard Wealth Management Corp. purchased a new position in Salesforce during the 4th quarter worth approximately $25,000. Accredited Wealth Management LLC purchased a new stake in Salesforce in the 4th quarter worth approximately $27,000. Arlington Trust Co LLC increased its stake in shares of Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock worth $29,000 after acquiring an additional 40 shares during the last quarter. Compass Financial Services Inc purchased a new stake in shares of Salesforce during the fourth quarter worth $30,000. Finally, Asset Planning Inc purchased a new stake in shares of Salesforce during the fourth quarter worth $31,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Price Performance

NYSE:CRM opened at $273.65 on Wednesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The company has a 50-day moving average of $268.22 and a 200-day moving average of $307.43. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The company has a market capitalization of $263.08 billion, a price-to-earnings ratio of 45.01, a PEG ratio of 2.58 and a beta of 1.42.

Salesforce Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 0.61%. This is an increase from Salesforce's previous quarterly dividend of $0.40. The ex-dividend date was Thursday, April 10th. Salesforce's payout ratio is presently 26.10%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CRM. Oppenheimer dropped their target price on Salesforce from $415.00 to $380.00 and set an "outperform" rating on the stock in a research report on Thursday, February 27th. Piper Sandler dropped their price objective on Salesforce from $400.00 to $315.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Bank of America reduced their target price on shares of Salesforce from $440.00 to $400.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Cantor Fitzgerald began coverage on shares of Salesforce in a research note on Wednesday, April 23rd. They set an "overweight" rating and a $210.00 price target on the stock. Finally, Macquarie restated a "neutral" rating and set a $320.00 price target on shares of Salesforce in a report on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have given a buy rating and five have given a strong buy rating to the company. According to MarketBeat, Salesforce presently has an average rating of "Moderate Buy" and a consensus price target of $350.56.

Insider Activity

In related news, insider R David Schmaier sold 6,959 shares of the stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total transaction of $1,762,784.29. Following the completion of the sale, the insider now owns 36,090 shares in the company, valued at $9,141,957.90. This trade represents a 16.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Miguel Milano sold 458 shares of the business's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $307.97, for a total transaction of $141,050.26. Following the completion of the transaction, the insider now owns 5,864 shares in the company, valued at approximately $1,805,936.08. This trade represents a 7.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 45,830 shares of company stock worth $12,907,361. Company insiders own 3.20% of the company's stock.

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.

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