CSM Advisors LLC Sells 2,308 Shares of Salesforce, Inc. (NYSE:CRM)

CSM Advisors LLC lessened its stake in shares of Salesforce, Inc. (NYSE:CRM) by 6.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,157 shares of the CRM provider’s stock after selling 2,308 shares during the quarter. CSM Advisors LLC’s holdings in Salesforce were worth $11,751,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Foundations Investment Advisors LLC raised its holdings in Salesforce by 15.0% in the fourth quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock worth $12,194,000 after purchasing an additional 4,752 shares in the last quarter. Athena Investment Management bought a new position in shares of Salesforce during the 4th quarter worth approximately $236,000. Highland Capital Management LLC purchased a new stake in Salesforce during the fourth quarter valued at approximately $4,321,000. Nordea Investment Management AB boosted its stake in Salesforce by 11.9% in the fourth quarter. Nordea Investment Management AB now owns 2,288,803 shares of the CRM provider’s stock valued at $766,566,000 after acquiring an additional 243,008 shares in the last quarter. Finally, CWA Asset Management Group LLC grew its holdings in Salesforce by 14.1% in the fourth quarter. CWA Asset Management Group LLC now owns 15,708 shares of the CRM provider’s stock worth $5,252,000 after purchasing an additional 1,936 shares during the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Stock Up 2.9 %

Salesforce stock opened at $243.10 on Wednesday. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The stock has a market capitalization of $233.62 billion, a PE ratio of 39.98, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The business has a 50 day simple moving average of $277.69 and a 200-day simple moving average of $308.98.

Salesforce Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 0.69%. This is an increase from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 10th. Salesforce’s dividend payout ratio (DPR) is presently 26.10%.

Insider Activity

In other news, COO Brian Millham sold 708 shares of the company’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $235,254.24. Following the completion of the sale, the chief operating officer now owns 1,239 shares of the company’s stock, valued at $411,694.92. This represents a 36.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Amy E. Weaver sold 897 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $298,055.16. Following the completion of the transaction, the chief financial officer now directly owns 46,750 shares in the company, valued at approximately $15,534,090. This represents a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 47,654 shares of company stock worth $14,124,094 over the last 90 days. 3.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

CRM has been the subject of several analyst reports. Loop Capital decreased their price objective on Salesforce from $330.00 to $300.00 and set a “hold” rating for the company in a report on Thursday, February 27th. Robert W. Baird lowered their price target on Salesforce from $430.00 to $400.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. Macquarie restated a “neutral” rating and set a $320.00 price objective on shares of Salesforce in a report on Thursday, March 20th. Stephens began coverage on shares of Salesforce in a research report on Wednesday, March 19th. They issued an “equal weight” rating and a $311.00 price objective for the company. Finally, Scotiabank dropped their target price on shares of Salesforce from $400.00 to $345.00 and set a “sector outperform” rating on the stock in a research report on Monday, March 17th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty have issued a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and a consensus target price of $357.49.

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.