Capital Square LLC Purchases Shares of 610 Salesforce, Inc. (NYSE:CRM)

Capital Square LLC acquired a new position in Salesforce, Inc. (NYSE:CRM) during the fourth quarter, HoldingsChannel reports. The firm acquired 610 shares of the CRM provider’s stock, valued at approximately $204,000.

Several other hedge funds and other institutional investors have also modified their holdings of CRM. Bernard Wealth Management Corp. acquired a new position in Salesforce during the fourth quarter valued at approximately $25,000. Arlington Trust Co LLC lifted its holdings in shares of Salesforce by 85.1% during the 4th 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 acquired a new position in shares of Salesforce during the 4th quarter valued at $30,000. Asset Planning Inc purchased a new stake in Salesforce during the 4th quarter worth $31,000. Finally, Collier Financial purchased a new position in Salesforce in the fourth quarter valued at about $32,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Price Performance

NYSE CRM opened at $246.93 on Friday. The company has a 50-day moving average price of $282.78 and a two-hundred day moving average price of $309.56. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The stock has a market cap of $237.30 billion, a price-to-earnings ratio of 40.61, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 10th will be given a $0.42 dividend. This is a boost from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend is Thursday, April 10th. Salesforce’s dividend payout ratio (DPR) is currently 26.10%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CRM. Canaccord Genuity Group lowered their target price on Salesforce from $415.00 to $400.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Loop Capital lowered their price objective 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. Morgan Stanley reduced their target price on shares of Salesforce from $405.00 to $393.00 and set an “overweight” rating on the stock in a research report on Wednesday. Citigroup reaffirmed a “buy” rating on shares of Salesforce in a report on Wednesday, March 19th. Finally, Piper Sandler reiterated an “overweight” rating on shares of Salesforce in a report on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirty have issued a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and an average price target of $360.32.

Insider Buying and Selling at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 897 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $298,055.16. Following the transaction, the chief financial officer now owns 46,750 shares of the company’s stock, valued at approximately $15,534,090. This trade represents a 1.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Sundeep G. Reddy sold 436 shares of the company’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $144,874.08. Following the completion of the sale, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at approximately $2,344,899.96. This represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 47,654 shares of company stock valued at $14,124,094 in the last quarter. Corporate insiders own 3.20% of the company’s stock.

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.