Salesforce, Inc. (NYSE:CRM) Shares Acquired by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in Salesforce, Inc. (NYSE:CRM - Free Report) by 1.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 229,478 shares of the CRM provider's stock after buying an additional 4,111 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Salesforce were worth $76,721,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Foundations Investment Advisors LLC raised its position in shares of Salesforce by 15.0% in the fourth quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider's stock worth $12,194,000 after acquiring an additional 4,752 shares during the period. Athena Investment Management purchased a new position in Salesforce in the 4th quarter worth approximately $236,000. Highland Capital Management LLC purchased a new position in Salesforce during the fourth quarter worth approximately $4,321,000. Jag Capital Management LLC boosted its position in shares of Salesforce by 2,507.9% during the 4th quarter. Jag Capital Management LLC now owns 23,706 shares of the CRM provider's stock valued at $7,926,000 after acquiring an additional 22,797 shares during the last quarter. Finally, Lecap Asset Management Ltd. purchased a new stake in shares of Salesforce in the 4th quarter valued at approximately $2,861,000. Institutional investors and hedge funds own 80.43% of the company's stock.

Salesforce Stock Performance

Shares of CRM opened at $287.64 on Wednesday. The firm has a market cap of $276.53 billion, a price-to-earnings ratio of 47.31, a PEG 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, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The business's 50 day moving average is $268.48 and its two-hundred day moving average is $307.02.

Salesforce Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.58%. This is an increase from Salesforce's previous quarterly dividend of $0.40. The ex-dividend date was Thursday, April 10th. Salesforce's payout ratio is 26.10%.

Insider Buying and Selling at Salesforce

In other news, insider Miguel Milano sold 458 shares of the company's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $307.97, for a total value of $141,050.26. Following the completion of the sale, the insider now owns 5,864 shares in the company, valued at $1,805,936.08. This represents a 7.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider R David Schmaier sold 6,959 shares of the business's stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total transaction of $1,762,784.29. Following the completion of the sale, the insider now owns 36,090 shares in the company, valued at $9,141,957.90. The trade was a 16.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 46,306 shares of company stock worth $12,841,368 over the last ninety days. Company insiders own 3.20% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Mizuho reduced their price objective on shares of Salesforce from $425.00 to $380.00 and set an "outperform" rating on the stock in a report on Thursday, May 15th. 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 note on Tuesday, April 22nd. Bank of America dropped their price target on shares of Salesforce from $440.00 to $400.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Stifel Nicolaus cut their price target on shares of Salesforce from $425.00 to $375.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Finally, Morgan Stanley lowered their target price on Salesforce from $405.00 to $393.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have assigned a buy rating and five have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Salesforce currently has a consensus rating of "Moderate Buy" and a consensus target price of $352.62.

Salesforce 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.

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