Teza Capital Management LLC Takes Position in Salesforce, Inc. (NYSE:CRM)

Teza Capital Management LLC bought a new stake in Salesforce, Inc. (NYSE:CRM - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 5,997 shares of the CRM provider's stock, valued at approximately $2,005,000.

Other institutional investors have also recently modified their holdings of the company. Nvest Financial LLC raised its stake in shares of Salesforce by 1.1% during the 4th quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider's stock worth $938,000 after purchasing an additional 31 shares in the last quarter. OMC Financial Services LTD boosted its stake in shares of Salesforce by 0.3% during the 4th 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 in the last quarter. Capital Advisors Ltd. LLC boosted its stake in shares of Salesforce by 4.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider's stock worth $263,000 after acquiring an additional 31 shares in the last quarter. Sachetta LLC boosted its stake in shares of Salesforce by 0.3% during the 4th quarter. Sachetta LLC now owns 11,018 shares of the CRM provider's stock worth $3,684,000 after acquiring an additional 32 shares in the last quarter. Finally, Prossimo Advisors LLC boosted its stake in shares of Salesforce by 1.0% during the 4th 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 in the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Wells Fargo & Company cut their price objective on Salesforce from $310.00 to $255.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. Westpark Capital reiterated a "buy" rating and set a $320.00 target price on shares of Salesforce in a research note on Wednesday, April 30th. Cantor Fitzgerald assumed coverage on shares of Salesforce in a research note on Wednesday, April 23rd. They set an "overweight" rating and a $210.00 target price for the company. Stifel Nicolaus cut their target price on shares of Salesforce from $425.00 to $375.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Finally, Jefferies Financial Group reduced their price objective on Salesforce from $425.00 to $375.00 and set a "buy" rating for the company in a research report on Monday, March 31st. One investment 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 assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $351.59.

Salesforce Trading Up 1.4%

Shares of NYSE CRM traded up $3.95 during midday trading on Thursday, hitting $286.23. The stock had a trading volume of 2,871,014 shares, compared to its average volume of 6,882,488. The company's 50-day simple moving average is $268.53 and its 200 day simple moving average is $306.85. The firm has a market cap of $275.18 billion, a P/E ratio of 47.07, a price-to-earnings-growth 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 current ratio of 1.11 and a quick ratio of 1.11.

Salesforce Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were paid a $0.42 dividend. This is a boost from Salesforce's previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a dividend yield of 0.59%. The ex-dividend date was Thursday, April 10th. Salesforce's dividend payout ratio (DPR) is 26.10%.

Insider Activity

In other Salesforce news, insider Srinivas Tallapragada sold 6,697 shares of the business's stock in a transaction that occurred 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 transaction, the insider now owns 41,422 shares of the company's stock, valued at $12,219,490. The trade was a 13.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Miguel Milano sold 458 shares of the business's stock in a transaction that occurred 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 transaction, the insider now directly owns 5,864 shares in the company, valued at approximately $1,805,936.08. This trade represents a 7.24% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,306 shares of company stock valued at $12,841,368. Company 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.