Salesforce, Inc. (NYSE:CRM) Shares Bought by Strategic Investment Solutions Inc. IL

Strategic Investment Solutions Inc. IL lifted its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 297.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 401 shares of the CRM provider’s stock after buying an additional 300 shares during the period. Strategic Investment Solutions Inc. IL’s holdings in Salesforce were worth $134,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Foundations Investment Advisors LLC increased its stake in shares of Salesforce by 15.0% during the fourth quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock valued at $12,194,000 after acquiring an additional 4,752 shares during the period. Athena Investment Management purchased a new stake in Salesforce during the fourth quarter valued at about $236,000. Highland Capital Management LLC purchased a new position in Salesforce during the 4th quarter worth approximately $4,321,000. Nordea Investment Management AB grew its holdings in shares of Salesforce by 11.9% during the fourth quarter. Nordea Investment Management AB now owns 2,288,803 shares of the CRM provider’s stock valued at $766,566,000 after buying an additional 243,008 shares in the last quarter. Finally, CWA Asset Management Group LLC increased its holdings in shares of Salesforce by 14.1% in the 4th quarter. CWA Asset Management Group LLC now owns 15,708 shares of the CRM provider’s stock valued at $5,252,000 after purchasing an additional 1,936 shares during the period. 80.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on CRM. TD Cowen upgraded shares of Salesforce from a “hold” rating to a “buy” rating and boosted their price target for the company from $380.00 to $400.00 in a report on Friday, January 17th. Wells Fargo & Company dropped their target price on Salesforce from $345.00 to $310.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 27th. Morgan Stanley lowered their price target on Salesforce from $405.00 to $393.00 and set an “overweight” rating for the company in a research note on Wednesday. DA Davidson cut their price objective on shares of Salesforce from $275.00 to $250.00 and set a “neutral” rating on the stock in a research report on Monday. Finally, Jefferies Financial Group decreased their target price on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a research report on Monday, March 31st. One analyst has rated the stock with a sell rating, five have given a hold rating, thirty have given a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $360.32.

Insider Activity

In other news, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $335.94, for a total value of $2,089,882.74. Following the sale, the chief financial officer now owns 46,750 shares of the company’s stock, valued at approximately $15,705,195. This represents a 11.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Sundeep G. Reddy sold 436 shares of the stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $144,874.08. Following the sale, the chief accounting officer now owns 7,057 shares of the company’s stock, valued at $2,344,899.96. This trade represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 39,439 shares of company stock worth $12,043,153. Company insiders own 3.20% of the company’s stock.

Salesforce Price Performance

NYSE:CRM opened at $249.50 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The company has a 50-day moving average of $284.38 and a 200-day moving average of $309.74. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The company has a market capitalization of $239.77 billion, a price-to-earnings ratio of 41.04, a PEG ratio of 2.58 and a beta of 1.38.

Salesforce Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 0.67%. 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 payout ratio is presently 26.10%.

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.