Mackenzie Financial Corp Grows Position in Salesforce, Inc. (NYSE:CRM)

Mackenzie Financial Corp grew its position in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 100.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 585,861 shares of the CRM provider's stock after purchasing an additional 293,291 shares during the quarter. Mackenzie Financial Corp owned about 0.06% of Salesforce worth $195,871,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Nvest Financial LLC boosted 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 valued at $938,000 after acquiring an additional 31 shares in the last quarter. OMC Financial Services LTD raised its holdings in shares of Salesforce by 0.3% in the fourth quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider's stock worth $3,808,000 after acquiring an additional 31 shares during the last quarter. Capital Advisors Ltd. LLC grew its holdings in shares of Salesforce by 4.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider's stock worth $263,000 after buying an additional 31 shares in the last quarter. Sachetta LLC raised its holdings in Salesforce by 0.3% in the 4th quarter. Sachetta LLC now owns 11,018 shares of the CRM provider's stock valued at $3,684,000 after acquiring an additional 32 shares during the last quarter. Finally, Prossimo Advisors LLC boosted its position in shares of Salesforce by 1.0% in the fourth quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider's stock worth $1,125,000 after acquiring an additional 32 shares during the last quarter. Institutional investors own 80.43% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on CRM shares. Piper Sandler lowered their target price on Salesforce from $400.00 to $315.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Bank of America reduced their price objective on Salesforce from $440.00 to $400.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Wells Fargo & Company dropped their price target on Salesforce from $310.00 to $255.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. Redburn Atlantic started coverage on shares of Salesforce in a research report on Wednesday, February 19th. They issued a "buy" rating on the stock. Finally, Macquarie reissued a "neutral" rating and issued a $320.00 price target on shares of Salesforce in a research note on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the company. According to data from MarketBeat.com, Salesforce presently has a consensus rating of "Moderate Buy" and a consensus price target of $351.59.

Salesforce Trading Down 3.7%

Shares of NYSE CRM traded down $10.37 during mid-day trading on Monday, hitting $273.05. The stock had a trading volume of 8,878,975 shares, compared to its average volume of 6,919,491. The business has a 50 day moving average price of $268.46 and a two-hundred day moving average price of $306.55. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. 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 firm has a market cap of $262.51 billion, a P/E ratio of 44.91, a price-to-earnings-growth ratio of 2.58 and a beta of 1.42.

Salesforce Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 0.62%. This is a boost from Salesforce's previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, April 10th. Salesforce's dividend payout ratio (DPR) is currently 26.10%.

Insider Activity

In other news, Director Robin L. Washington bought 1,695 shares of the firm's stock in a transaction dated Friday, February 28th. The stock was purchased at an average price of $294.61 per share, with a total value of $499,363.95. Following the transaction, the director now owns 43,445 shares of the company's stock, valued at approximately $12,799,331.45. The trade was a 4.06% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider R David Schmaier sold 6,959 shares of Salesforce stock in a transaction that occurred on 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 owns 36,090 shares in the company, valued at $9,141,957.90. This represents a 16.17% 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. 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.