First Manhattan CO. LLC. Buys 15,899 Shares of Salesforce, Inc. (NYSE:CRM)

First Manhattan CO. LLC. increased its position in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 1.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,558,586 shares of the CRM provider's stock after buying an additional 15,899 shares during the quarter. Salesforce comprises about 1.5% of First Manhattan CO. LLC.'s portfolio, making the stock its 11th biggest position. First Manhattan CO. LLC. owned approximately 0.16% of Salesforce worth $527,792,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bernard Wealth Management Corp. bought a new stake in Salesforce during the fourth quarter worth $25,000. Accredited Wealth Management LLC bought a new stake in Salesforce in the fourth quarter worth about $27,000. Arlington Trust Co LLC boosted its stake in Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock valued at $29,000 after acquiring an additional 40 shares during the last quarter. Compass Financial Services Inc purchased a new stake in shares of Salesforce during the 4th quarter worth approximately $30,000. Finally, Asset Planning Inc purchased a new stake in shares of Salesforce during the 4th quarter worth approximately $31,000. Institutional investors own 80.43% of the company's stock.

Salesforce Trading Up 0.5 %

NYSE:CRM opened at $279.54 on Friday. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The company has a market cap of $268.75 billion, a PE ratio of 45.98, a price-to-earnings-growth ratio of 2.58 and a beta of 1.42. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The company has a 50 day simple moving average of $267.57 and a two-hundred day simple moving average of $307.15.

Salesforce Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were paid 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 boost from Salesforce's previous quarterly dividend of $0.40. Salesforce's dividend payout ratio (DPR) is currently 26.10%.

Wall Street Analysts Forecast Growth

CRM has been the topic of several research reports. Redburn Atlantic began coverage on Salesforce in a research note on Wednesday, February 19th. They issued a "buy" rating on the stock. Needham & Company LLC reissued a "buy" rating and issued a $400.00 price target on shares of Salesforce in a research report on Friday, April 25th. Stephens assumed coverage on shares of Salesforce in a research note on Wednesday, March 19th. They issued an "equal weight" rating and a $311.00 price objective for the company. Loop Capital cut their price target on Salesforce from $330.00 to $300.00 and set a "hold" rating for the company in a report on Thursday, February 27th. Finally, Bank of America cut their target price on Salesforce from $440.00 to $400.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. 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 stock. According to MarketBeat.com, Salesforce has an average rating of "Moderate Buy" and a consensus target price of $350.56.

Insider Transactions at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $328.18, for a total transaction of $2,041,607.78. Following the completion of the transaction, the chief financial officer now owns 46,750 shares of the company's stock, valued at $15,342,415. This represents a 11.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider R David Schmaier sold 6,959 shares of the firm's stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total value of $1,762,784.29. Following the transaction, the insider now owns 36,090 shares of the company's stock, valued at approximately $9,141,957.90. The trade was a 16.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 45,830 shares of company stock worth $12,907,361 in the last three months. Corporate insiders own 3.20% of the company's stock.

About Salesforce

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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