1,964 Shares in Salesforce, Inc. (NYSE:CRM) Purchased by Triumph Capital Management

Triumph Capital Management bought a new position in Salesforce, Inc. (NYSE:CRM - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,964 shares of the CRM provider's stock, valued at approximately $657,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bernard Wealth Management Corp. bought a new position in shares of Salesforce during the fourth quarter valued at $25,000. Arlington Trust Co LLC increased its holdings in shares of Salesforce by 85.1% during 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 in the last quarter. Compass Financial Services Inc bought a new position in shares of Salesforce during the fourth quarter valued at $30,000. Asset Planning Inc bought a new position in shares of Salesforce during the fourth quarter valued at $31,000. Finally, Collier Financial bought a new position in shares of Salesforce during the fourth quarter valued at $32,000. 80.43% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Salesforce news, insider R David Schmaier sold 6,959 shares of Salesforce stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total value of $1,762,784.29. Following the sale, the insider now owns 36,090 shares of the company's stock, valued at $9,141,957.90. The trade was a 16.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Sundeep G. Reddy sold 1,525 shares of Salesforce stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $253.66, for a total value of $386,831.50. Following the completion of the sale, the chief accounting officer now directly owns 12,211 shares in the company, valued at approximately $3,097,442.26. The trade was a 11.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 52,051 shares of company stock valued at $15,027,714 in the last quarter. 3.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on CRM. Stephens began coverage on Salesforce in a research report on Wednesday, March 19th. They set an "equal weight" rating and a $311.00 price objective on the stock. Oppenheimer dropped their price objective on Salesforce from $415.00 to $380.00 and set an "outperform" rating on the stock in a research report on Thursday, February 27th. Guggenheim raised Salesforce from a "sell" rating to a "neutral" rating in a research report on Monday, April 21st. Morgan Stanley dropped their price objective on Salesforce from $405.00 to $393.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Finally, Citigroup reissued a "buy" rating on shares of Salesforce in a research report on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have assigned a buy rating and five have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $350.56.

Salesforce Price Performance

NYSE:CRM traded up $0.46 during trading hours on Thursday, reaching $269.17. The stock had a trading volume of 5,204,423 shares, compared to its average volume of 6,818,280. 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 52 week low of $212.00 and a 52 week high of $369.00. The company has a 50 day moving average price of $269.95 and a two-hundred day moving average price of $307.67. The stock has a market capitalization of $258.78 billion, a PE ratio of 44.27, a PEG ratio of 2.58 and a beta of 1.38.

Salesforce Increases Dividend

The company also recently disclosed 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. The ex-dividend date was Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a yield of 0.62%. Salesforce's payout ratio is presently 26.10%.

Salesforce 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.