GFI Investment Counsel Ltd. Purchases 1,941 Shares of Salesforce, Inc. (NYSE:CRM)

GFI Investment Counsel Ltd. raised its holdings in Salesforce, Inc. (NYSE:CRM - Free Report) by 9.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,305 shares of the CRM provider's stock after buying an additional 1,941 shares during the period. Salesforce comprises approximately 0.9% of GFI Investment Counsel Ltd.'s investment portfolio, making the stock its 15th biggest holding. GFI Investment Counsel Ltd.'s holdings in Salesforce were worth $7,792,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Arlington Trust Co LLC raised its position in shares of 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 purchasing an additional 40 shares during the period. Compass Financial Services Inc acquired a new position in shares of Salesforce in the fourth quarter valued at approximately $30,000. Asset Planning Inc acquired a new stake in Salesforce during the 4th quarter worth approximately $31,000. Collier Financial bought a new position in Salesforce during the 4th quarter worth $32,000. Finally, Halbert Hargrove Global Advisors LLC bought a new stake in shares of Salesforce in the fourth quarter valued at about $35,000. 80.43% of the stock is currently owned by institutional investors.

Salesforce Stock Performance

Salesforce stock traded down $9.87 during mid-day trading on Friday, reaching $245.36. The company's stock had a trading volume of 4,172,265 shares, compared to its average volume of 6,670,224. The firm's fifty day moving average price is $304.32 and its two-hundred day moving average price is $311.11. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The company has a market capitalization of $235.79 billion, a P/E ratio of 40.23, a PEG ratio of 2.58 and a beta of 1.38.

Salesforce Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 10th will be issued a dividend of $0.42 per share. This is a boost from Salesforce's previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a yield of 0.68%. Salesforce's dividend payout ratio is 26.10%.

Wall Street Analysts Forecast Growth

CRM has been the topic of a number of analyst reports. Wedbush restated an "outperform" rating and set a $425.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. TD Cowen upgraded shares of Salesforce from a "hold" rating to a "buy" rating and increased their price objective for the stock from $380.00 to $400.00 in a research note on Friday, January 17th. JMP Securities reiterated a "market outperform" rating and set a $450.00 price target on shares of Salesforce in a research report on Wednesday, December 18th. DA Davidson cut their target price on Salesforce from $300.00 to $275.00 and set a "neutral" rating for the company in a research note on Thursday, February 27th. Finally, Loop Capital reduced their target price on Salesforce from $330.00 to $300.00 and set a "hold" rating on the stock in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $361.42.

Insiders Place Their Bets

In related news, insider Parker Harris sold 3,273 shares of Salesforce stock in a transaction on Monday, March 24th. The shares were sold at an average price of $284.58, for a total value of $931,430.34. Following the transaction, the insider now owns 125,146 shares in the company, valued at $35,614,048.68. This trade represents a 2.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the company's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $277.37, for a total transaction of $1,725,518.77. Following the sale, the chief financial officer now owns 46,750 shares of the company's stock, valued at approximately $12,967,047.50. The trade was a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 45,660 shares of company stock worth $14,095,336 in the last quarter. 3.20% of the stock is owned by company insiders.

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.