Trajan Wealth LLC Grows Stake in Salesforce, Inc. (NYSE:CRM)

Trajan Wealth LLC increased its holdings in Salesforce, Inc. (NYSE:CRM) by 4.9% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 55,898 shares of the CRM provider’s stock after buying an additional 2,634 shares during the period. Salesforce accounts for approximately 1.0% of Trajan Wealth LLC’s portfolio, making the stock its 28th largest holding. Trajan Wealth LLC’s holdings in Salesforce were worth $18,688,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of Salesforce by 36.0% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,346 shares of the CRM provider’s stock worth $450,000 after purchasing an additional 356 shares in the last quarter. Kelly Lawrence W & Associates Inc. CA lifted its position in Salesforce by 0.7% during the fourth quarter. Kelly Lawrence W & Associates Inc. CA now owns 12,234 shares of the CRM provider’s stock valued at $4,090,000 after purchasing an additional 90 shares during the last quarter. Landing Point Financial Group LLC purchased a new position in Salesforce in the 4th quarter worth approximately $210,000. Mirova increased its holdings in shares of Salesforce by 18.3% in the 4th quarter. Mirova now owns 17,842 shares of the CRM provider’s stock worth $5,965,000 after buying an additional 2,758 shares during the last quarter. Finally, MML Investors Services LLC lifted its holdings in shares of Salesforce by 10.4% during the 4th quarter. MML Investors Services LLC now owns 170,816 shares of the CRM provider’s stock worth $57,109,000 after acquiring an additional 16,023 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Salesforce Trading Down 1.2 %

Salesforce stock opened at $246.93 on Friday. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The company has a market capitalization of $237.30 billion, a price-to-earnings ratio of 40.61, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. The business’s fifty day simple moving average is $281.23 and its two-hundred day simple moving average is $309.60. 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 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 10th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 0.68%. This is an increase from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 10th. Salesforce’s dividend payout ratio is 26.10%.

Insider Buying and Selling at Salesforce

In other Salesforce news, insider Parker Harris sold 652 shares of Salesforce stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $216,646.56. Following the completion of the sale, the insider now owns 121,467 shares of the company’s stock, valued at approximately $40,361,054.76. This trade represents a 0.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider R David Schmaier sold 6,959 shares of the stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total value of $1,762,784.29. Following the sale, the insider now directly owns 36,090 shares in the company, valued at $9,141,957.90. This trade represents a 16.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,654 shares of company stock worth $14,124,094. 3.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CRM. TD Cowen raised Salesforce from a “hold” rating to a “buy” rating and lifted their price target for the stock from $380.00 to $400.00 in a research note on Friday, January 17th. Jefferies Financial Group reduced their price target on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Stifel Nicolaus cut their price objective on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Morgan Stanley cut their price target on shares of Salesforce from $405.00 to $393.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, Citigroup reissued a “buy” rating on shares of Salesforce in a research note on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty have issued a buy rating and five have assigned a strong buy rating to the stock. According to MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and an average price target of $360.32.

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.