Dempze Nancy E Buys New Stake in Salesforce, Inc. (NYSE:CRM)

Dempze Nancy E purchased a new position in shares of Salesforce, Inc. (NYSE:CRM) in the fourth quarter, Holdings Channel reports. The fund purchased 1,170 shares of the CRM provider’s stock, valued at approximately $391,000.

Several other institutional investors and hedge funds also recently modified their holdings of CRM. Norges Bank acquired a new stake in shares of Salesforce in the 4th quarter worth approximately $3,599,867,000. Raymond James Financial Inc. acquired a new stake in Salesforce in the fourth quarter worth approximately $1,173,564,000. Jennison Associates LLC boosted its stake in Salesforce by 52.7% during the 4th quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider’s stock valued at $1,482,347,000 after purchasing an additional 1,530,572 shares in the last quarter. Swedbank AB increased its position in shares of Salesforce by 46.7% during the 4th quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider’s stock valued at $1,280,408,000 after purchasing an additional 1,219,254 shares during the period. Finally, Franklin Resources Inc. raised its stake in shares of Salesforce by 27.4% in the 4th quarter. Franklin Resources Inc. now owns 5,598,423 shares of the CRM provider’s stock worth $1,871,721,000 after buying an additional 1,204,355 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Down 5.9 %

CRM opened at $240.26 on Friday. The firm has a market cap of $230.89 billion, a price-to-earnings ratio of 39.52, a PEG ratio of 2.58 and a beta of 1.38. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The firm’s 50-day simple moving average is $302.46 and its 200-day simple moving average is $311.00. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00.

Salesforce Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 0.70%. This is a boost from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 10th. Salesforce’s dividend payout ratio is currently 26.10%.

Insider Activity

In related news, Director Robin L. Washington acquired 1,695 shares of the firm’s stock in a transaction on Friday, February 28th. The shares were purchased at an average price of $294.61 per share, with a total value of $499,363.95. Following the acquisition, the director now directly owns 43,445 shares in the company, valued at $12,799,331.45. The trade was a 4.06 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CAO Sundeep G. Reddy sold 500 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $335.94, for a total transaction of $167,970.00. Following the completion of the transaction, the chief accounting officer now directly owns 6,557 shares of the company’s stock, valued at approximately $2,202,758.58. This represents a 7.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 45,660 shares of company stock worth $14,095,336. Insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CRM shares. Needham & Company LLC reaffirmed a “buy” rating and set a $400.00 target price on shares of Salesforce in a report on Thursday, February 27th. Jefferies Financial Group cut their target price on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a research note on Monday, March 31st. KeyCorp upgraded shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price target on the stock in a research report on Friday, December 13th. Piper Sandler reiterated an “overweight” rating on shares of Salesforce in a research report on Wednesday, March 19th. Finally, DA Davidson decreased their target price on Salesforce from $300.00 to $275.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $361.42.

Salesforce Company 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.