Putney Financial Group LLC Takes $1.39 Million Position in Salesforce, Inc. (NYSE:CRM)

Putney Financial Group LLC acquired a new stake in Salesforce, Inc. (NYSE:CRM - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 4,171 shares of the CRM provider's stock, valued at approximately $1,394,000. Salesforce accounts for approximately 1.0% of Putney Financial Group LLC's investment portfolio, making the stock its 18th largest holding.

Several other large investors also recently modified their holdings of the stock. Mackenzie Financial Corp grew its stake in shares of Salesforce by 100.2% in the 4th quarter. Mackenzie Financial Corp now owns 585,861 shares of the CRM provider's stock valued at $195,871,000 after purchasing an additional 293,291 shares during the period. Forum Financial Management LP grew its position in Salesforce by 24.5% during the 4th quarter. Forum Financial Management LP now owns 10,543 shares of the CRM provider's stock worth $3,525,000 after acquiring an additional 2,075 shares during the last quarter. Castlekeep Investment Advisors LLC bought a new stake in Salesforce during the 4th quarter worth approximately $7,936,000. Drucker Wealth 3.0 LLC grew its position in Salesforce by 5.5% during the 4th quarter. Drucker Wealth 3.0 LLC now owns 3,961 shares of the CRM provider's stock worth $1,324,000 after acquiring an additional 205 shares during the last quarter. Finally, Warm Springs Advisors Inc. bought a new stake in Salesforce during the 4th quarter worth approximately $995,000. 80.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Oppenheimer decreased their price target on Salesforce from $415.00 to $380.00 and set an "outperform" rating on the stock in a research report on Thursday, February 27th. Needham & Company LLC restated a "buy" rating and set a $400.00 price target on shares of Salesforce in a research report on Wednesday. Bank of America decreased their price target on Salesforce from $440.00 to $400.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Stephens assumed coverage on Salesforce in a research report on Wednesday, March 19th. They set an "equal weight" rating and a $311.00 price target on the stock. Finally, Robert W. Baird decreased their price target on Salesforce from $430.00 to $400.00 and set an "outperform" rating on the stock in a research report on Thursday, February 27th. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have issued a buy rating and five have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $348.59.

Salesforce Trading Down 0.8%

Salesforce stock traded down $2.12 during mid-day trading on Wednesday, hitting $275.07. 12,116,033 shares of the company's stock were exchanged, compared to its average volume of 6,956,626. The firm has a market capitalization of $264.45 billion, a P/E ratio of 45.24, a PEG ratio of 2.58 and a beta of 1.42. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The company's 50 day simple moving average is $268.29 and its 200-day simple moving average is $306.00.

Salesforce Increases Dividend

The company also recently announced 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%. The ex-dividend date of this dividend was Thursday, April 10th. This is a boost from Salesforce's previous quarterly dividend of $0.40. Salesforce's dividend payout ratio is 26.10%.

Insiders Place Their Bets

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $301.00, for a total transaction of $1,872,521.00. Following the completion of the transaction, the chief financial officer now owns 46,750 shares in the company, valued at approximately $14,071,750. This represents a 11.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Miguel Milano sold 705 shares of the firm's stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $279.44, for a total value of $197,005.20. Following the completion of the transaction, the insider now owns 9,323 shares of the company's stock, valued at $2,605,219.12. The trade was a 7.03% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 46,553 shares of company stock worth $12,897,323. Corporate 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.