Jefferies Financial Group Inc. Has $12.85 Million Holdings in Salesforce, Inc. (NYSE:CRM)

Jefferies Financial Group Inc. boosted its position in shares of Salesforce, Inc. (NYSE:CRM) by 72.0% during the 4th quarter, HoldingsChannel reports. The firm owned 38,441 shares of the CRM provider’s stock after buying an additional 16,092 shares during the quarter. Jefferies Financial Group Inc.’s holdings in Salesforce were worth $12,852,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CRM. Bernard Wealth Management Corp. purchased a new stake in Salesforce in the 4th quarter worth about $25,000. Accredited Wealth Management LLC acquired a new stake in shares of Salesforce during the fourth quarter worth approximately $27,000. Arlington Trust Co LLC grew its position in 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 purchasing an additional 40 shares in the last quarter. Compass Financial Services Inc acquired a new position in Salesforce in the 4th quarter valued at approximately $30,000. Finally, Asset Planning Inc purchased a new stake in Salesforce in the 4th quarter worth approximately $31,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Miguel Milano sold 458 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $307.97, for a total value of $141,050.26. Following the sale, the insider now owns 5,864 shares of the company’s stock, valued at approximately $1,805,936.08. This represents a 7.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider R David Schmaier sold 6,959 shares of Salesforce stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total transaction of $1,762,784.29. Following the transaction, the insider now directly owns 36,090 shares of the company’s stock, valued at $9,141,957.90. This represents a 16.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 45,830 shares of company stock worth $12,907,361. Company insiders own 3.20% of the company’s stock.

Salesforce Price Performance

Shares of Salesforce stock opened at $275.38 on Friday. The firm has a market cap of $264.75 billion, a P/E ratio of 45.29, a price-to-earnings-growth ratio of 2.58 and a beta of 1.42. The firm’s 50-day simple moving average is $267.33 and its 200-day simple moving average is $307.22. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. 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 Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 0.61%. This is an increase from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, April 10th. Salesforce’s payout ratio is presently 26.10%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. TD Cowen raised shares of Salesforce from a “hold” rating to a “buy” rating and upped their price target for the stock from $380.00 to $400.00 in a research note on Friday, January 17th. Oppenheimer reduced their price target on Salesforce from $415.00 to $380.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. Cantor Fitzgerald assumed coverage on shares of Salesforce in a research report on Wednesday, April 23rd. They set an “overweight” rating and a $210.00 price objective on the stock. Loop Capital decreased their target price on shares of Salesforce from $330.00 to $300.00 and set a “hold” rating for the company in a research report on Thursday, February 27th. Finally, Stifel Nicolaus cut their price target on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. 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 given a strong buy rating to the company’s stock. According to data from MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and an average price target 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.