Westwood Holdings Group Inc. Has $92.60 Million Holdings in Salesforce, Inc. (NYSE:CRM)

Westwood Holdings Group Inc. trimmed its holdings in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 19.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 276,962 shares of the CRM provider's stock after selling 67,497 shares during the period. Westwood Holdings Group Inc.'s holdings in Salesforce were worth $92,597,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Regent Peak Wealth Advisors LLC grew its position in Salesforce by 3.6% during the fourth quarter. Regent Peak Wealth Advisors LLC now owns 2,447 shares of the CRM provider's stock worth $818,000 after buying an additional 84 shares in the last quarter. Tallon Kerry Patrick purchased a new stake in shares of Salesforce in the fourth quarter valued at about $236,000. Merit Financial Group LLC raised its position in Salesforce by 62.1% in the fourth quarter. Merit Financial Group LLC now owns 19,581 shares of the CRM provider's stock worth $6,547,000 after acquiring an additional 7,499 shares during the period. Integrated Investment Consultants LLC raised its position in shares of Salesforce by 3.6% in the fourth quarter. Integrated Investment Consultants LLC now owns 1,510 shares of the CRM provider's stock valued at $505,000 after purchasing an additional 52 shares during the period. Finally, HB Wealth Management LLC increased its position in shares of Salesforce by 11.1% during the fourth quarter. HB Wealth Management LLC now owns 26,718 shares of the CRM provider's stock valued at $8,934,000 after buying an additional 2,674 shares during the period. Institutional investors own 80.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CRM. Bank of America cut their price objective on Salesforce from $440.00 to $400.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Loop Capital lowered their target price on Salesforce from $330.00 to $300.00 and set a "hold" rating for the company in a research note on Thursday, February 27th. Scotiabank lowered their price target on Salesforce from $400.00 to $345.00 and set a "sector outperform" rating on the stock in a report on Monday, March 17th. Jefferies Financial Group lowered their price objective on Salesforce from $425.00 to $375.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Finally, Cantor Fitzgerald assumed coverage on Salesforce in a research note on Wednesday, April 23rd. They issued an "overweight" rating and a $210.00 price target for the company. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have issued a buy rating and five have given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $352.62.

Salesforce Stock Performance

Salesforce stock opened at $291.00 on Monday. 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, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The company has a market capitalization of $279.76 billion, a P/E ratio of 47.86, a P/E/G ratio of 2.58 and a beta of 1.42. The business has a 50 day moving average of $268.10 and a 200-day moving average of $307.21.

Salesforce Increases Dividend

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

Insiders Place Their Bets

In related news, insider Miguel Milano sold 458 shares of the business's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $307.97, for a total transaction of $141,050.26. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the firm's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $328.18, for a total value of $2,041,607.78. Following the sale, the chief financial officer now owns 46,750 shares in the company, valued at $15,342,415. The trade was a 11.74% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,527 shares of company stock worth $14,882,976. Corporate 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.

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