M&T Bank Corp Has $64.34 Million Position in Salesforce, Inc. (NYSE:CRM)

M&T Bank Corp reduced its position in Salesforce, Inc. (NYSE:CRM) by 0.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 192,452 shares of the CRM provider’s stock after selling 862 shares during the period. M&T Bank Corp’s holdings in Salesforce were worth $64,343,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CRM. Atria Investments Inc raised its position in shares of Salesforce by 12.1% in the fourth quarter. Atria Investments Inc now owns 88,528 shares of the CRM provider’s stock worth $29,598,000 after buying an additional 9,549 shares in the last quarter. Assetmark Inc. lifted its position in Salesforce by 32.7% during the 4th quarter. Assetmark Inc. now owns 174,240 shares of the CRM provider’s stock valued at $58,254,000 after acquiring an additional 42,903 shares during the period. Triad Wealth Partners LLC bought a new position in Salesforce in the 4th quarter worth about $565,000. Carrera Capital Advisors grew its position in Salesforce by 9.7% during the fourth quarter. Carrera Capital Advisors now owns 837 shares of the CRM provider’s stock valued at $280,000 after buying an additional 74 shares during the period. Finally, Keybank National Association OH raised its position in shares of Salesforce by 3.9% during the fourth quarter. Keybank National Association OH now owns 34,299 shares of the CRM provider’s stock valued at $11,467,000 after buying an additional 1,287 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors.

Salesforce Stock Performance

Shares of CRM opened at $287.10 on Wednesday. The stock has a market capitalization of $274.76 billion, a price-to-earnings ratio of 47.22, a PEG ratio of 2.58 and a beta of 1.31. The firm has a fifty day simple moving average of $326.96 and a 200 day simple moving average of $308.33. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. 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 (NYSE:CRM) last posted its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.03). The business had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.62 earnings per share. Research analysts forecast that Salesforce, Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were paid a $0.40 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.56%. Salesforce’s dividend payout ratio is 25.16%.

Insider Transactions at Salesforce

In other Salesforce news, Director G Mason Morfit sold 722,300 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $346.11, for a total transaction of $249,995,253.00. Following the completion of the sale, the director now directly owns 3,192,009 shares of the company’s stock, valued at $1,104,786,234.99. This trade represents a 18.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $301.00, for a total value of $1,872,521.00. Following the sale, the chief financial officer now owns 46,750 shares of the company’s stock, valued at approximately $14,071,750. This trade represents a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,108,793 shares of company stock valued at $383,156,227 in the last quarter. Insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

CRM has been the topic of several research analyst reports. Robert W. Baird reduced their price objective on Salesforce from $430.00 to $400.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. Macquarie decreased their price target on shares of Salesforce from $370.00 to $320.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Loop Capital dropped their price target 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. Bank of America decreased their target price on Salesforce from $440.00 to $400.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Finally, 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 note on Friday, December 13th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-two have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $365.32.

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.