Neo Ivy Capital Management Acquires New Position in Salesforce, Inc. (NYSE:CRM)

Neo Ivy Capital Management bought a new position in Salesforce, Inc. (NYSE:CRM - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,074 shares of the CRM provider's stock, valued at approximately $359,000.

Several other institutional investors also recently bought and sold shares of the business. Vega Investment Solutions purchased a new position in Salesforce during the fourth quarter worth about $4,641,000. Strait & Sound Wealth Management LLC grew its holdings in Salesforce by 1.9% in the 4th quarter. Strait & Sound Wealth Management LLC now owns 3,119 shares of the CRM provider's stock valued at $1,043,000 after buying an additional 59 shares during the period. Helium Advisors LLC acquired a new position in shares of Salesforce during the 4th quarter valued at about $362,000. GTS Securities LLC lifted its holdings in shares of Salesforce by 129.7% during the 4th quarter. GTS Securities LLC now owns 7,450 shares of the CRM provider's stock worth $2,491,000 after acquiring an additional 32,550 shares during the period. Finally, Fourth Dimension Wealth LLC purchased a new position in shares of Salesforce during the 4th quarter worth about $162,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on CRM shares. Guggenheim upgraded shares of Salesforce from a "sell" rating to a "neutral" rating in a report on Monday, April 21st. Stephens began coverage on shares of Salesforce in a report on Wednesday, March 19th. They issued an "equal weight" rating and a $311.00 price target on the stock. Jefferies Financial Group dropped their price objective on Salesforce from $425.00 to $375.00 and set a "buy" rating for the company in a report on Monday, March 31st. 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 report on Thursday, February 27th. Finally, Bank of America lowered their price target on Salesforce from $440.00 to $400.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. 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 given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $351.59.

Salesforce Price Performance

CRM stock opened at $273.05 on Friday. The stock's 50 day moving average is $268.46 and its two-hundred day moving average is $306.58. 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 $262.51 billion, a PE ratio of 44.91, a P/E/G ratio of 2.58 and a beta of 1.42. 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 business also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were given a dividend of $0.42 per share. The ex-dividend date was Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.62%. This is an increase from Salesforce's previous quarterly dividend of $0.40. Salesforce's dividend payout ratio (DPR) is presently 26.10%.

Insider Buying and Selling

In other news, CAO Sundeep G. Reddy sold 1,909 shares of Salesforce stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $284.58, for a total value of $543,263.22. Following the completion of the transaction, the chief accounting officer now owns 11,310 shares in the company, valued at approximately $3,218,599.80. This trade represents a 14.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $301.00, for a total value of $1,872,521.00. Following the completion of the sale, the chief financial officer now owns 46,750 shares of the company's stock, valued at $14,071,750. This trade represents a 11.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 47,011 shares of company stock worth $13,038,373. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.