Hancock Whitney Corp Buys 1,260 Shares of Salesforce, Inc. (NYSE:CRM)

Hancock Whitney Corp lifted its position in Salesforce, Inc. (NYSE:CRM - Free Report) by 11.7% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 12,067 shares of the CRM provider's stock after purchasing an additional 1,260 shares during the period. Hancock Whitney Corp's holdings in Salesforce were worth $4,034,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Bernard Wealth Management Corp. bought a new stake in Salesforce in the 4th quarter worth about $25,000. Arlington Trust Co LLC increased its holdings in Salesforce by 85.1% in the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock worth $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 4th quarter valued at about $30,000. Asset Planning Inc bought a new position in shares of Salesforce in the 4th quarter worth approximately $31,000. Finally, Collier Financial bought a new stake in Salesforce during the fourth quarter valued at approximately $32,000. Institutional investors own 80.43% of the company's stock.

Insider Buying and Selling

In related news, CAO Sundeep G. Reddy sold 1,525 shares of Salesforce stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $253.66, for a total transaction of $386,831.50. Following the completion of the sale, the chief accounting officer now owns 12,211 shares in the company, valued at $3,097,442.26. This trade represents a 11.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Brian Millham sold 979 shares of Salesforce stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $253.66, for a total transaction of $248,333.14. Following the sale, the chief executive officer now owns 6,487 shares of the company's stock, valued at $1,645,492.42. The trade was a 13.11 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,051 shares of company stock valued at $15,027,714. Company insiders own 3.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CRM shares. Robert W. Baird decreased their price target on shares of Salesforce from $430.00 to $400.00 and set an "outperform" rating on the stock in a research report on Thursday, February 27th. Needham & Company LLC reiterated a "buy" rating and issued a $400.00 price target on shares of Salesforce in a research report on Friday. Piper Sandler decreased their price target on shares of Salesforce from $400.00 to $315.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Canaccord Genuity Group decreased their price target on shares of Salesforce from $415.00 to $400.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Finally, Oppenheimer decreased their price target on shares of Salesforce from $415.00 to $380.00 and set an "outperform" rating on the stock in a research report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $351.37.

Salesforce Trading Up 0.4 %

Shares of CRM stock traded up $1.13 during trading hours on Tuesday, reaching $266.77. 1,341,365 shares of the stock were exchanged, compared to its average volume of 6,795,113. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. 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's 50-day moving average price is $272.58 and its 200-day moving average price is $308.39. The firm has a market capitalization of $256.46 billion, a price-to-earnings ratio of 43.85, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38.

Salesforce Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were paid a dividend of $0.42 per share. The ex-dividend date was Thursday, April 10th. This is a boost from Salesforce's previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.63%. Salesforce's payout ratio is currently 26.10%.

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.