Ameriflex Group Inc. Makes New $362,000 Investment in Salesforce, Inc. (NYSE:CRM)

Ameriflex Group Inc. purchased a new stake in Salesforce, Inc. (NYSE:CRM - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,059 shares of the CRM provider's stock, valued at approximately $362,000.

A number of other institutional investors and hedge funds also recently modified their holdings of CRM. Nvest Financial LLC increased its holdings in shares of Salesforce by 1.1% in the fourth quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider's stock worth $938,000 after purchasing an additional 31 shares during the last quarter. OMC Financial Services LTD raised its position in Salesforce by 0.3% during the fourth quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider's stock valued at $3,808,000 after purchasing an additional 31 shares during the period. Capital Advisors Ltd. LLC raised its position in Salesforce by 4.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider's stock valued at $263,000 after purchasing an additional 31 shares during the period. Prossimo Advisors LLC grew its stake in shares of Salesforce by 1.0% during the fourth quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider's stock valued at $1,125,000 after buying an additional 32 shares during the last quarter. Finally, Muirfield Wealth Advisors LLC grew its stake in shares of Salesforce by 2.3% during the fourth quarter. Muirfield Wealth Advisors LLC now owns 1,457 shares of the CRM provider's stock valued at $487,000 after buying an additional 33 shares during the last quarter. 80.43% of the stock is owned by institutional investors.

Insider Activity

In related news, insider R David Schmaier sold 6,959 shares of Salesforce stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total value of $1,762,784.29. Following the sale, the insider now directly 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 this hyperlink. Also, insider Miguel Milano sold 705 shares of the business's stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $279.44, for a total transaction of $197,005.20. Following the completion of the sale, the insider now owns 9,323 shares in the company, valued at $2,605,219.12. The trade was a 7.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 46,553 shares of company stock valued at $12,897,323. Company insiders own 3.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CRM. Loop Capital cut their target price on Salesforce from $330.00 to $300.00 and set a "hold" rating on the stock in a research note on Thursday, February 27th. Jefferies Financial Group lowered their price target on Salesforce from $425.00 to $375.00 and set a "buy" rating for the company in a report on Monday, March 31st. Citigroup lowered their price target on Salesforce from $335.00 to $320.00 and set a "neutral" rating for the company in a report on Friday. BMO Capital Markets lowered their price target on Salesforce from $367.00 to $350.00 and set an "outperform" rating for the company in a report on Tuesday. Finally, Westpark Capital reiterated a "buy" rating and issued a $320.00 price target on shares of Salesforce in a report on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $349.87.

Salesforce Trading Up 1.4%

Shares of CRM stock traded up $3.80 during mid-day trading on Tuesday, reaching $276.93. The company's stock had a trading volume of 10,944,663 shares, compared to its average volume of 6,935,640. The company's 50 day simple moving average is $268.33 and its 200-day simple moving average is $306.20. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month 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 firm has a market capitalization of $266.24 billion, a PE ratio of 45.55, a price-to-earnings-growth ratio of 2.58 and a beta of 1.42.

Salesforce Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date 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%.

About Salesforce

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.