Notis McConarty Edward Buys New Holdings in Salesforce, Inc. (NYSE:CRM)

Notis McConarty Edward purchased a new position in shares of Salesforce, Inc. (NYSE:CRM) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,240 shares of the CRM provider’s stock, valued at approximately $749,000.

A number of other large investors also recently modified their holdings of the company. Arlington Trust Co LLC increased its holdings in Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after buying an additional 40 shares during the last quarter. Compass Financial Services Inc acquired a new position in shares of Salesforce during the 4th quarter worth about $30,000. Asset Planning Inc purchased a new position in shares of Salesforce in the 4th quarter valued at about $31,000. Collier Financial acquired a new stake in shares of Salesforce during the 4th quarter worth about $32,000. Finally, Halbert Hargrove Global Advisors LLC purchased a new stake in Salesforce during the fourth quarter worth approximately $35,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Trading Down 5.9 %

NYSE:CRM opened at $240.26 on Friday. The company has a market capitalization of $230.89 billion, a PE ratio of 39.52, a price-to-earnings-growth 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 stock has a fifty day simple moving average of $302.46 and a 200-day simple moving average of $311.00. 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 firm also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend is Thursday, April 10th. This is an increase from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s dividend payout ratio is 26.10%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. 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 research note on Thursday, February 27th. Stephens initiated coverage on shares of Salesforce in a research report on Wednesday, March 19th. They issued an “equal weight” rating and a $311.00 target price on the stock. Wells Fargo & Company reduced their price target on shares of Salesforce from $345.00 to $310.00 and set an “equal weight” rating for the company in a research report on Thursday, February 27th. Bank of America dropped their price objective on Salesforce from $440.00 to $400.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Finally, Canaccord Genuity Group reduced their target price on Salesforce from $415.00 to $400.00 and set a “buy” rating for the company in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $361.42.

Insider Activity

In related news, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $329.88, for a total transaction of $2,052,183.48. Following the sale, the chief financial officer now owns 45,861 shares of the company’s stock, valued at $15,128,626.68. This trade represents a 11.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Sundeep G. Reddy sold 436 shares of the business’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 $144,874.08. Following the completion of the transaction, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at $2,344,899.96. The trade was a 5.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 45,660 shares of company stock worth $14,095,336 over the last ninety days. 3.20% of the stock is currently owned by insiders.

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.