Claret Asset Management Corp Buys 464 Shares of Salesforce, Inc. (NYSE:CRM)

Claret Asset Management Corp grew its stake in shares of Salesforce, Inc. (NYSE:CRM) by 40.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,620 shares of the CRM provider’s stock after purchasing an additional 464 shares during the quarter. Claret Asset Management Corp’s holdings in Salesforce were worth $542,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Bernard Wealth Management Corp. purchased a new position in shares of Salesforce during the 4th quarter worth approximately $25,000. Arlington Trust Co LLC grew its position in shares of 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 during the period. Compass Financial Services Inc bought a new stake in Salesforce during the fourth quarter worth about $30,000. Asset Planning Inc bought a new position in shares of Salesforce during the fourth quarter valued at approximately $31,000. Finally, Collier Financial bought a new stake in shares of Salesforce in the 4th quarter worth approximately $32,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Stock Performance

Shares of NYSE CRM opened at $246.93 on Friday. The stock’s fifty day simple moving average is $281.23 and its 200 day simple moving average is $309.39. The stock has a market capitalization of $237.30 billion, a price-to-earnings ratio of 40.61, a PEG 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. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th will be given a $0.42 dividend. This is an increase from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a yield of 0.68%. Salesforce’s dividend payout ratio is presently 26.10%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Loop Capital dropped their target price on shares of Salesforce from $330.00 to $300.00 and set a “hold” rating on the stock in a research note on Thursday, February 27th. Stifel Nicolaus dropped 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. Oppenheimer cut their target price on shares of Salesforce from $415.00 to $380.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. Bank of America cut their price objective on Salesforce from $440.00 to $400.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Finally, TD Cowen raised shares of Salesforce from a “hold” rating to a “buy” rating and upped their price target for the company from $380.00 to $400.00 in a research report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirty have assigned a buy rating and five have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $360.32.

Insider Transactions at Salesforce

In other Salesforce news, insider R David Schmaier sold 6,959 shares of the firm’s stock in a transaction dated 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 directly owns 36,090 shares in the company, valued at $9,141,957.90. This trade represents a 16.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $335.94, for a total value of $2,089,882.74. Following the transaction, the chief financial officer now directly owns 46,750 shares in the company, valued at approximately $15,705,195. This represents a 11.74 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 47,654 shares of company stock valued at $14,124,094. 3.20% of the stock is owned by insiders.

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.