Williams Jones Wealth Management LLC. Acquires 117 Shares of Salesforce, Inc. (NYSE:CRM)

Williams Jones Wealth Management LLC. grew its holdings in Salesforce, Inc. (NYSE:CRM) by 4.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,507 shares of the CRM provider’s stock after purchasing an additional 117 shares during the period. Williams Jones Wealth Management LLC.’s holdings in Salesforce were worth $838,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of CRM. Foundations Investment Advisors LLC increased its holdings in Salesforce by 15.0% during the 4th quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock worth $12,194,000 after acquiring an additional 4,752 shares during the period. Athena Investment Management bought a new stake in Salesforce during the 4th quarter worth approximately $236,000. Highland Capital Management LLC bought a new stake in Salesforce during the 4th quarter worth approximately $4,321,000. Jag Capital Management LLC increased its holdings in Salesforce by 2,507.9% during the 4th quarter. Jag Capital Management LLC now owns 23,706 shares of the CRM provider’s stock worth $7,926,000 after acquiring an additional 22,797 shares during the period. Finally, Lecap Asset Management Ltd. bought a new stake in Salesforce during the 4th quarter worth approximately $2,861,000. Institutional investors own 80.43% of the company’s stock.

Salesforce Trading Up 0.0%

Shares of CRM opened at $287.64 on Wednesday. The stock has a market capitalization of $276.53 billion, a P/E ratio of 47.31, a PEG ratio of 2.58 and a beta of 1.42. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm has a fifty day simple moving average of $268.48 and a two-hundred day simple moving average of $307.02. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00.

Salesforce Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.68 annualized dividend and a yield of 0.58%. This is a boost from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s dividend payout ratio is presently 26.10%.

Insider Buying and Selling at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $301.00, for a total value of $1,872,521.00. Following the completion of the transaction, the chief financial officer now directly owns 46,750 shares in the company, valued at approximately $14,071,750. This represents a 11.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Sundeep G. Reddy sold 1,909 shares of the company’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $284.58, for a total transaction of $543,263.22. Following the completion of the transaction, the chief accounting officer now owns 11,310 shares of the company’s stock, valued at $3,218,599.80. This trade represents a 14.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 46,306 shares of company stock valued at $12,841,368 in the last quarter. Company insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CRM. Morgan Stanley decreased their target price on shares of Salesforce from $405.00 to $393.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Canaccord Genuity Group decreased their target price on shares of Salesforce from $415.00 to $400.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Redburn Atlantic began coverage on shares of Salesforce in a report on Wednesday, February 19th. They set a “buy” rating on the stock. Citigroup reaffirmed a “buy” rating on shares of Salesforce in a report on Wednesday, March 19th. Finally, Cantor Fitzgerald began coverage on shares of Salesforce in a report on Wednesday, April 23rd. They set an “overweight” rating and a $210.00 target price on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have issued a buy rating and five have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $352.62.

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.