Ameriflex Group Inc. Invests $362,000 in Salesforce, Inc. (NYSE:CRM)

Ameriflex Group Inc. purchased a new position in shares of Salesforce, Inc. (NYSE:CRM - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,059 shares of the CRM provider's stock, valued at approximately $362,000.

A number of other hedge funds have also recently made changes to their positions in the business. Norges Bank purchased a new stake in shares of Salesforce during the fourth quarter worth about $3,599,867,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in shares of Salesforce by 926.4% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,256,211 shares of the CRM provider's stock valued at $1,422,979,000 after acquiring an additional 3,841,521 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Salesforce during the fourth quarter valued at approximately $1,173,564,000. Invesco Ltd. lifted 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 buying an additional 2,325,156 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Salesforce by 18.3% in the 4th quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider's stock worth $3,752,830,000 after purchasing an additional 1,736,667 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on CRM. Wells Fargo & Company cut their price target on Salesforce from $310.00 to $255.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Westpark Capital reissued a "buy" rating and set a $320.00 price target on shares of Salesforce in a research note on Wednesday. Needham & Company LLC restated a "buy" rating and issued a $400.00 price target on shares of Salesforce in a research report on Wednesday. Cantor Fitzgerald started coverage on shares of Salesforce in a research note on Wednesday, April 23rd. They issued an "overweight" rating and a $210.00 target price on the stock. Finally, Canaccord Genuity Group dropped their price target on shares of Salesforce from $400.00 to $350.00 and set a "buy" rating for the company in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have assigned a buy rating and five have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $348.59.

Insider Activity at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 500 shares of the company's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $275.00, for a total value of $137,500.00. Following the completion of the sale, the chief accounting officer now directly owns 11,711 shares in the company, valued at $3,220,525. This represents a 4.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robin L. Washington purchased 1,695 shares of the stock in a transaction dated Friday, February 28th. The shares were acquired at an average price of $294.61 per share, with a total value of $499,363.95. Following the completion of the acquisition, the director now owns 43,445 shares in the company, valued at approximately $12,799,331.45. This trade represents a 4.06% increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 46,553 shares of company stock worth $12,897,323 in the last 90 days. Corporate insiders own 3.20% of the company's stock.

Salesforce Stock Performance

Shares of CRM traded down $2.12 during mid-day trading on Wednesday, reaching $275.07. The company had a trading volume of 12,116,033 shares, compared to its average volume of 6,956,626. The stock 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 52-week low of $212.00 and a 52-week high of $369.00. The stock has a 50 day moving average of $268.29 and a two-hundred day moving average of $306.00. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce Increases Dividend

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

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.