Public Employees Retirement Association of Colorado Sells 28,016 Shares of Salesforce, Inc. (NYSE:CRM)

Public Employees Retirement Association of Colorado cut its holdings in Salesforce, Inc. (NYSE:CRM - Free Report) by 2.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,060,805 shares of the CRM provider's stock after selling 28,016 shares during the quarter. Salesforce comprises approximately 1.4% of Public Employees Retirement Association of Colorado's holdings, making the stock its 12th largest position. Public Employees Retirement Association of Colorado owned about 0.11% of Salesforce worth $354,659,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of CRM. Bernard Wealth Management Corp. acquired a new stake in Salesforce in the 4th quarter worth $25,000. Arlington Trust Co LLC lifted its stake 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 buying an additional 40 shares during the period. Compass Financial Services Inc bought a new stake in shares of Salesforce in the fourth quarter valued at about $30,000. Asset Planning Inc bought a new stake in shares of Salesforce in the fourth quarter valued at about $31,000. Finally, Collier Financial bought a new stake in shares of Salesforce in the fourth quarter valued at about $32,000. Institutional investors own 80.43% of the company's stock.

Salesforce Trading Up 1.0 %

Shares of CRM traded up $2.67 during trading hours on Thursday, reaching $271.38. The stock had a trading volume of 2,489,035 shares, compared to its average volume of 6,795,591. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm has a 50-day moving average of $270.74 and a 200 day moving average of $307.83. The company has a market cap of $260.90 billion, a P/E ratio of 44.63, a P/E/G ratio of 2.58 and a beta of 1.38. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00.

Salesforce Increases Dividend

The firm also recently announced 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 is an increase from Salesforce's previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend was Thursday, April 10th. Salesforce's payout ratio is currently 26.10%.

Insider Transactions at Salesforce

In related news, CAO Sundeep G. Reddy sold 500 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $335.94, for a total value of $167,970.00. Following the completion of the transaction, the chief accounting officer now owns 6,557 shares in the company, valued at $2,202,758.58. This trade represents a 7.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider R David Schmaier sold 6,959 shares of the firm's stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total transaction 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. In the last three months, insiders sold 52,051 shares of company stock worth $15,027,714. 3.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Macquarie reiterated a "neutral" rating and issued a $320.00 target price on shares of Salesforce in a research note on Thursday, March 20th. Loop Capital cut their price target on shares of Salesforce from $330.00 to $300.00 and set a "hold" rating for the company in a research note on Thursday, February 27th. Needham & Company LLC restated a "buy" rating and set a $400.00 price target on shares of Salesforce in a research note on Friday, April 25th. Citigroup restated a "buy" rating on shares of Salesforce in a research note on Wednesday, March 19th. Finally, Westpark Capital restated a "buy" rating and set a $320.00 price target on shares of Salesforce in a research note on Wednesday. One equities research 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. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $350.56.

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.