Premier Fund Managers Ltd Buys Shares of 29,120 Salesforce, Inc. (NYSE:CRM)

Premier Fund Managers Ltd purchased a new position in Salesforce, Inc. (NYSE:CRM) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 29,120 shares of the CRM provider’s stock, valued at approximately $9,782,000.

Several other institutional investors and hedge funds have also modified their holdings of CRM. Nvest Financial LLC grew its position in shares of Salesforce by 1.1% in the fourth quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock valued at $938,000 after purchasing an additional 31 shares during the period. OMC Financial Services LTD raised its stake in shares of Salesforce by 0.3% in the 4th 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 period. Capital Advisors Ltd. LLC lifted its stake in shares of Salesforce by 4.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock worth $263,000 after purchasing an additional 31 shares in the last quarter. Sachetta LLC grew its stake in shares of Salesforce by 0.3% in the fourth quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock valued at $3,684,000 after buying an additional 32 shares in the last quarter. Finally, Prossimo Advisors LLC raised its holdings 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 buying an additional 32 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling

In other Salesforce news, insider R David Schmaier sold 1,785 shares of the business’s stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $288.34, for a total transaction of $514,686.90. Following the completion of the transaction, the insider now owns 29,190 shares of the company’s stock, valued at $8,416,644.60. The trade was a 5.76 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Sundeep G. Reddy sold 436 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the sale, the chief accounting officer now directly owns 7,057 shares in the company, valued at approximately $2,344,899.96. This represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,660 shares of company stock worth $14,095,336. 3.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Wells Fargo & Company dropped their price objective on shares of Salesforce from $345.00 to $310.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 27th. Loop Capital decreased their price objective on shares of Salesforce from $330.00 to $300.00 and set a “hold” rating for the company in a report on Thursday, February 27th. JPMorgan Chase & Co. upped their target price on shares of Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Piper Sandler restated an “overweight” rating on shares of Salesforce in a research note on Wednesday, March 19th. Finally, Macquarie reiterated a “neutral” rating and issued a $320.00 price target on shares of Salesforce in a report on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $362.74.

Salesforce Stock Performance

Shares of CRM opened at $277.88 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 12 month low of $212.00 and a 12 month high of $369.00. The company’s fifty day moving average is $310.49 and its 200-day moving average is $310.51. The firm has a market cap 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.

Salesforce Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 10th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend 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%.

Salesforce Company 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.