Silvercrest Asset Management Group LLC Increases Position in Salesforce, Inc. (NYSE:CRM)

Silvercrest Asset Management Group LLC raised its holdings in Salesforce, Inc. (NYSE:CRM - Free Report) by 584.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,025 shares of the CRM provider's stock after acquiring an additional 10,269 shares during the period. Silvercrest Asset Management Group LLC's holdings in Salesforce were worth $4,020,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Bernard Wealth Management Corp. acquired a new position in shares of Salesforce during the 4th quarter valued at $25,000. Accredited Wealth Management LLC bought a new position in shares of Salesforce in the fourth quarter valued at $27,000. Arlington Trust Co LLC grew its holdings in shares of Salesforce by 85.1% during the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock valued at $29,000 after buying an additional 40 shares during the last quarter. Compass Financial Services Inc bought a new stake in shares of Salesforce during the fourth quarter worth about $30,000. Finally, Asset Planning Inc bought a new stake in shares of Salesforce during the fourth quarter worth about $31,000. Institutional investors own 80.43% of the company's stock.

Salesforce Trading Down 2.0%

Shares of NYSE CRM traded down $5.71 during trading on Wednesday, reaching $282.35. The stock had a trading volume of 5,688,153 shares, compared to its average volume of 6,898,054. The company has a market cap of $271.45 billion, a P/E ratio of 46.44, a PEG ratio of 2.58 and a beta of 1.42. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week 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 business's 50-day moving average price is $268.53 and its 200-day moving average price is $306.85.

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 given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 0.60%. The ex-dividend date was Thursday, April 10th. This is a positive change from Salesforce's previous quarterly dividend of $0.40. Salesforce's dividend payout ratio (DPR) is 26.10%.

Insider Buying and Selling

In other Salesforce news, CAO Sundeep G. Reddy sold 1,909 shares of the business's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $284.58, for a total value of $543,263.22. Following the transaction, the chief accounting officer now directly owns 11,310 shares of the company's stock, valued at approximately $3,218,599.80. The trade was a 14.44% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Srinivas Tallapragada sold 6,697 shares of the firm's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $295.00, for a total transaction of $1,975,615.00. Following the completion of the sale, the insider now owns 41,422 shares of the company's stock, valued at $12,219,490. This trade represents a 13.92% decrease in their position. 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 90 days. 3.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on CRM shares. Westpark Capital reissued a "buy" rating and issued a $320.00 price objective on shares of Salesforce in a research note on Wednesday, April 30th. BMO Capital Markets restated an "outperform" rating on shares of Salesforce in a research note on Wednesday, March 19th. 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 report on Thursday, February 27th. Mizuho cut their price target 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. Finally, Macquarie reiterated a "neutral" rating and set a $320.00 price target on shares of Salesforce in a report on Thursday, March 20th. One 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 given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $351.59.

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.