Salesforce, Inc. (NYSE:CRM) Shares Bought by United Bank

United Bank increased its holdings in Salesforce, Inc. (NYSE:CRM) by 13.2% during the 4th quarter, HoldingsChannel reports. The fund owned 8,268 shares of the CRM provider’s stock after acquiring an additional 965 shares during the quarter. Salesforce comprises approximately 1.2% of United Bank’s investment portfolio, making the stock its 27th largest holding. United Bank’s holdings in Salesforce were worth $2,764,000 as of its most recent filing with the SEC.

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

Insider Transactions at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 436 shares of the business’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 $144,874.08. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $329.88, for a total value of $2,052,183.48. Following the completion of the sale, the chief financial officer now directly owns 45,861 shares of the company’s stock, valued at approximately $15,128,626.68. This trade represents a 11.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 45,660 shares of company stock valued at $14,095,336 over the last three months. Company insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. DA Davidson reduced their price objective on Salesforce from $300.00 to $275.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. 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. The Goldman Sachs Group increased their price objective on shares of Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Stephens started coverage on Salesforce in a research note on Wednesday, March 19th. They issued an “equal weight” rating and a $311.00 target price for the company. Finally, Redburn Atlantic started coverage on Salesforce in a research report on Wednesday, February 19th. They set a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have assigned 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 an average target price of $362.74.

Salesforce Stock Down 2.8 %

CRM stock opened at $270.04 on Friday. 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 firm has a market cap of $259.51 billion, a PE ratio of 44.42, a P/E/G ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The firm has a 50 day simple moving average of $309.39 and a 200 day simple moving average of $311.13.

Salesforce Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th will be paid a dividend of $0.42 per share. The ex-dividend date is Thursday, April 10th. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a dividend yield of 0.62%. Salesforce’s dividend payout ratio (DPR) is currently 26.10%.

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.