Salesforce, Inc. (NYSE:CRM) Shares Sold by KCM Investment Advisors LLC

KCM Investment Advisors LLC reduced its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 2.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,457 shares of the CRM provider’s stock after selling 409 shares during the period. KCM Investment Advisors LLC’s holdings in Salesforce were worth $4,499,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in CRM. Geode Capital Management LLC increased its position in shares of Salesforce by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 19,955,353 shares of the CRM provider’s stock worth $6,656,078,000 after acquiring an additional 175,035 shares during the period. Fisher Asset Management LLC increased its holdings in Salesforce by 1.4% during the 4th quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider’s stock worth $4,163,703,000 after purchasing an additional 177,321 shares during the period. Norges Bank acquired a new stake in Salesforce in the 4th quarter valued at about $3,599,867,000. Massachusetts Financial Services Co. MA boosted its stake in shares of Salesforce by 10.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 6,593,295 shares of the CRM provider’s stock valued at $2,204,336,000 after buying an additional 628,593 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Salesforce by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,066,354 shares of the CRM provider’s stock worth $2,028,164,000 after buying an additional 153,500 shares in the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Stock Performance

Shares of CRM opened at $240.26 on Friday. 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, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The company has a 50-day simple moving average of $302.46 and a 200-day simple moving average of $311.00. The company has a market capitalization of $230.89 billion, a PE ratio of 39.52, a P/E/G ratio of 2.58 and a beta of 1.38.

Salesforce Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders 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 dividend yield of 0.70%. This is an increase from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 10th. Salesforce’s dividend payout ratio (DPR) is presently 26.10%.

Insider Transactions at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 897 shares of the company’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $298,055.16. Following the sale, the chief financial officer now owns 46,750 shares of the company’s stock, valued at approximately $15,534,090. This represents a 1.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Parker Harris sold 652 shares of the firm’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $216,646.56. Following the completion of the transaction, the insider now owns 121,467 shares of the company’s stock, valued at approximately $40,361,054.76. This represents a 0.53 % 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 in the last quarter. 3.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

CRM has been the subject of a number of recent research reports. Redburn Atlantic began coverage on shares of Salesforce in a research note on Wednesday, February 19th. They issued a “buy” rating for the company. Stephens began coverage on Salesforce in a report on Wednesday, March 19th. They issued an “equal weight” rating and a $311.00 target price on the stock. Oppenheimer decreased their price target on Salesforce from $415.00 to $380.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. Macquarie reissued a “neutral” rating and set a $320.00 target price on shares of Salesforce in a research report on Thursday, March 20th. Finally, Canaccord Genuity Group decreased their target price on Salesforce from $415.00 to $400.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. One research 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and an average target price of $361.42.

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.