AssuredPartners Investment Advisors LLC Takes $758,000 Position in Salesforce, Inc. (NYSE:CRM)

AssuredPartners Investment Advisors LLC purchased a new position in shares of Salesforce, Inc. (NYSE:CRM) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,268 shares of the CRM provider’s stock, valued at approximately $758,000.

A number of other institutional investors and hedge funds have also bought and sold shares of CRM. Nvest Financial LLC boosted its holdings in shares of Salesforce by 1.1% during the 4th quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock valued at $938,000 after acquiring an additional 31 shares during the last quarter. OMC Financial Services LTD increased its position in Salesforce by 0.3% during the fourth quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock valued at $3,808,000 after acquiring an additional 31 shares during the last quarter. Capital Advisors Ltd. LLC lifted its holdings in Salesforce by 4.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock valued at $263,000 after acquiring an additional 31 shares during the period. Sachetta LLC boosted its position in Salesforce by 0.3% in the fourth quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock worth $3,684,000 after purchasing an additional 32 shares during the last quarter. Finally, Prossimo Advisors LLC grew its stake in shares of Salesforce by 1.0% during the 4th quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock valued at $1,125,000 after purchasing an additional 32 shares during the period. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Trading Down 1.1 %

CRM stock opened at $277.88 on Friday. The firm’s fifty day simple moving average is $310.49 and its two-hundred day simple moving average is $310.51. The stock has a market capitalization of $267.04 billion, a price-to-earnings ratio of 45.70, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. 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 twelve month low of $212.00 and a twelve month high of $369.00.

Salesforce Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 0.60%. This is an increase from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s dividend payout ratio (DPR) is presently 25.16%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CRM. Guggenheim reiterated a “sell” rating and issued a $247.00 price objective on shares of Salesforce in a research note on Thursday, February 27th. Citigroup reiterated a “buy” rating on shares of Salesforce in a research note on Wednesday, March 19th. Needham & Company LLC restated a “buy” rating and issued a $400.00 price objective on shares of Salesforce in a research note on Thursday, February 27th. JPMorgan Chase & Co. raised their target price on Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Finally, Truist Financial reissued a “buy” rating and set a $400.00 price target (up previously from $380.00) on shares of Salesforce in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and a consensus price target of $362.74.

Insider Buying and Selling at Salesforce

In related news, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $277.37, for a total transaction of $1,725,518.77. Following the completion of the transaction, the chief financial officer now owns 46,750 shares in the company, valued at $12,967,047.50. The trade was a 11.74 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Brian Millham sold 708 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 value of $235,254.24. Following the completion of the sale, the chief operating officer now owns 1,239 shares in the company, valued at approximately $411,694.92. The trade was a 36.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 45,660 shares of company stock worth $14,095,336 over the last 90 days. Company insiders own 3.20% of the company’s stock.

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.