Vista Cima Wealth Management LLC Buys New Stake in Salesforce, Inc. (NYSE:CRM)

Vista Cima Wealth Management LLC acquired a new position in Salesforce, Inc. (NYSE:CRM - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,027 shares of the CRM provider's stock, valued at approximately $678,000. Salesforce makes up 0.7% of Vista Cima Wealth Management LLC's investment portfolio, making the stock its 29th largest position.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Bernard Wealth Management Corp. purchased a new stake in shares of Salesforce during the fourth quarter worth about $25,000. Accredited Wealth Management LLC bought a new position in Salesforce in the 4th quarter worth approximately $27,000. Arlington Trust Co LLC grew its holdings in Salesforce by 85.1% during the 4th 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 in the last quarter. Compass Financial Services Inc bought a new stake in shares of Salesforce during the fourth quarter valued at approximately $30,000. Finally, Asset Planning Inc purchased a new position in shares of Salesforce in the fourth quarter worth $31,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 1,909 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $284.58, for a total transaction of $543,263.22. Following the sale, the chief accounting officer now owns 11,310 shares of the company's stock, 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 this hyperlink. Also, insider Srinivas Tallapragada sold 6,697 shares of the business's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $295.00, for a total value of $1,975,615.00. Following the completion of the transaction, the insider now directly owns 41,422 shares of the company's stock, valued at approximately $12,219,490. The trade was a 13.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 46,306 shares of company stock valued at $12,841,368. 3.20% of the stock is currently owned by corporate insiders.

Salesforce Trading Up 0.0%

Shares of NYSE CRM traded up $0.01 during trading hours on Tuesday, reaching $287.64. The stock had a trading volume of 4,026,816 shares, compared to its average volume of 6,889,264. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The firm has a market cap of $276.53 billion, a price-to-earnings ratio of 47.31, a P/E/G ratio of 2.58 and a beta of 1.42. The business's fifty day moving average price is $268.48 and its two-hundred day moving average price is $307.02. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce Increases Dividend

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

Analysts Set New Price Targets

Several research firms recently weighed in on CRM. Guggenheim raised shares of Salesforce from a "sell" rating to a "neutral" rating in a research note on Monday, April 21st. Oppenheimer cut their price objective on Salesforce from $415.00 to $380.00 and set an "outperform" rating for the company in a research report on Thursday, February 27th. Morgan Stanley decreased their target price on Salesforce from $405.00 to $393.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Citigroup restated a "buy" rating on shares of Salesforce in a report on Wednesday, March 19th. Finally, Jefferies Financial Group decreased their price objective on Salesforce from $425.00 to $375.00 and set a "buy" rating on the stock in a report on Monday, March 31st. One 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 company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $352.62.

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.