Strategic Wealth Partners Ltd. lifted its position in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 23.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 44,198 shares of the CRM provider's stock after buying an additional 8,323 shares during the quarter. Salesforce makes up 1.2% of Strategic Wealth Partners Ltd.'s investment portfolio, making the stock its 15th largest position. Strategic Wealth Partners Ltd.'s holdings in Salesforce were worth $14,578,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of CRM. Geode Capital Management LLC boosted its holdings in shares of Salesforce by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 19,955,353 shares of the CRM provider's stock worth $6,656,078,000 after purchasing an additional 175,035 shares during the last quarter. Fisher Asset Management LLC lifted its position in Salesforce by 1.4% during the fourth quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider's stock worth $4,163,703,000 after buying an additional 177,321 shares during the period. Northern Trust Corp boosted its stake in Salesforce by 18.3% in the 4th quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider's stock worth $3,752,830,000 after buying an additional 1,736,667 shares during the last quarter. Norges Bank purchased a new stake in Salesforce in the 4th quarter valued at about $3,599,867,000. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Salesforce by 23.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,938,536 shares of the CRM provider's stock valued at $2,988,422,000 after acquiring an additional 1,683,233 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company's stock.
Insider Activity at Salesforce
In related news, CAO Sundeep G. Reddy sold 1,909 shares of the firm's 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 sale, the chief accounting officer now directly owns 11,310 shares in the company, valued at $3,218,599.80. This trade represents a 14.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Miguel Milano sold 458 shares of Salesforce stock in a transaction on Monday, February 24th. The shares were sold at an average price of $307.97, for a total value of $141,050.26. Following the sale, the insider now directly owns 5,864 shares in the company, valued at $1,805,936.08. The trade was a 7.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 52,527 shares of company stock worth $14,882,976 in the last ninety days. 3.20% of the stock is owned by insiders.
Salesforce Price Performance
Shares of NYSE CRM opened at $291.00 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market capitalization of $279.76 billion, a PE ratio of 47.86, a P/E/G ratio of 2.58 and a beta of 1.42. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The business's fifty day moving average price is $268.10 and its two-hundred day moving average price is $307.10.
Salesforce Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 24th. Investors 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%. The ex-dividend date of this dividend was Thursday, April 10th. This is a boost from Salesforce's previous quarterly dividend of $0.40. Salesforce's dividend payout ratio (DPR) is 26.10%.
Wall Street Analyst Weigh In
CRM has been the topic of several research analyst reports. Stifel Nicolaus decreased their target price on shares of Salesforce from $425.00 to $375.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Jefferies Financial Group cut their price target on shares of Salesforce from $425.00 to $375.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Macquarie reissued a "neutral" rating and set a $320.00 price objective on shares of Salesforce in a research note on Thursday, March 20th. Loop Capital dropped their price objective on Salesforce from $330.00 to $300.00 and set a "hold" rating for the company in a report on Thursday, February 27th. Finally, DA Davidson reiterated an "underperform" rating and issued a $200.00 target price on shares of Salesforce in a report on Monday, April 21st. One analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have given a buy rating and five have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $352.62.
View Our Latest Analysis on Salesforce
Salesforce Profile
(
Free Report)
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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