Salesforce, Inc. (NYSE:CRM) Shares Bought by Sterling Capital Management LLC

Sterling Capital Management LLC grew its holdings in Salesforce, Inc. (NYSE:CRM) by 1.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,457 shares of the CRM provider’s stock after acquiring an additional 834 shares during the period. Sterling Capital Management LLC’s holdings in Salesforce were worth $15,198,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of CRM. Bernard Wealth Management Corp. purchased a new stake in shares of Salesforce in the 4th quarter valued at approximately $25,000. 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 stake in Salesforce in the fourth quarter valued at $30,000. Asset Planning Inc purchased a new stake in Salesforce during the 4th quarter worth about $31,000. Finally, Collier Financial acquired a new position in shares of Salesforce during the 4th quarter worth about $32,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Price Performance

CRM stock opened at $254.87 on Friday. The company has a market cap of $244.93 billion, a price-to-earnings ratio of 41.92, a PEG ratio of 2.58 and a beta of 1.38. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm has a 50 day moving average of $291.07 and a 200-day moving average of $310.59. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00.

Salesforce Increases Dividend

The company 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 dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 0.66%. This is an increase from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 10th. Salesforce’s payout ratio is presently 26.10%.

Wall Street Analyst Weigh In

CRM has been the subject of a number of research analyst reports. BMO Capital Markets reaffirmed an “outperform” rating on shares of Salesforce in a report on Wednesday, March 19th. JMP Securities reaffirmed a “market outperform” rating and issued a $450.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. Redburn Atlantic started coverage on shares of Salesforce in a research note on Wednesday, February 19th. They set a “buy” rating on the stock. Scotiabank decreased their price objective on shares of Salesforce from $400.00 to $345.00 and set a “sector outperform” rating for the company in a research note on Monday, March 17th. Finally, Citigroup reiterated a “buy” rating on shares of Salesforce in a research report on Wednesday, March 19th. One research 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and an average target price of $361.42.

Insider Buying and Selling at Salesforce

In related news, CAO Sundeep G. Reddy sold 436 shares of the stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $144,874.08. Following the sale, the chief accounting officer now owns 7,057 shares of the company’s stock, valued at $2,344,899.96. This trade represents a 5.82 % 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, Director Oscar Munoz bought 3,882 shares of the business’s stock in a transaction that occurred on Thursday, April 3rd. The stock was purchased at an average cost of $257.28 per share, with a total value of $998,760.96. Following the purchase, the director now directly owns 11,843 shares in the company, valued at $3,046,967.04. The trade was a 48.76 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 45,660 shares of company stock valued at $14,095,336. Insiders own 3.20% of the company’s stock.

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.