Nuveen Asset Management LLC Has $2.87 Billion Position in Salesforce, Inc. (NYSE:CRM)

Nuveen Asset Management LLC raised its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 1.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,598,989 shares of the CRM provider’s stock after purchasing an additional 114,278 shares during the quarter. Salesforce accounts for approximately 0.8% of Nuveen Asset Management LLC’s portfolio, making the stock its 16th largest position. Nuveen Asset Management LLC’s holdings in Salesforce were worth $2,874,900,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Regent Peak Wealth Advisors LLC lifted its stake in Salesforce by 3.6% during the 4th quarter. Regent Peak Wealth Advisors LLC now owns 2,447 shares of the CRM provider’s stock valued at $818,000 after acquiring an additional 84 shares in the last quarter. Capital Investment Advisors LLC boosted its holdings in Salesforce by 1.6% during the fourth quarter. Capital Investment Advisors LLC now owns 6,745 shares of the CRM provider’s stock worth $2,255,000 after purchasing an additional 106 shares during the last quarter. Claro Advisors LLC boosted its holdings in Salesforce by 2.2% during the fourth quarter. Claro Advisors LLC now owns 5,598 shares of the CRM provider’s stock worth $1,872,000 after purchasing an additional 122 shares during the last quarter. Persium Advisors LLC bought a new stake in Salesforce in the 4th quarter worth about $608,000. Finally, Consilio Wealth Advisors LLC increased its stake in Salesforce by 5.4% in the 4th quarter. Consilio Wealth Advisors LLC now owns 1,096 shares of the CRM provider’s stock valued at $366,000 after buying an additional 56 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on CRM shares. Scotiabank cut their target price on Salesforce from $400.00 to $345.00 and set a “sector outperform” rating on the stock in a research note on Monday, March 17th. Jefferies Financial Group dropped their price target on Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Piper Sandler reduced their price objective on Salesforce from $400.00 to $315.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. Guggenheim raised Salesforce from a “sell” rating to a “neutral” rating in a research report on Monday, April 21st. Finally, Macquarie reissued a “neutral” rating and issued a $320.00 price target on shares of Salesforce in a report on Thursday, March 20th. One research 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $350.56.

Salesforce Stock Up 0.1%

Shares of NYSE CRM opened at $289.18 on Wednesday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The business has a 50-day moving average of $267.33 and a 200-day moving average of $307.23. The firm has a market capitalization of $278.01 billion, a price-to-earnings ratio of 47.56, a PEG ratio of 2.58 and a beta of 1.42. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00.

Salesforce Increases Dividend

The business also recently announced 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 was Thursday, April 10th. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a yield of 0.58%. Salesforce’s payout ratio is presently 26.10%.

Insiders Place Their Bets

In other news, CAO Sundeep G. Reddy sold 500 shares of Salesforce stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $275.00, for a total transaction of $137,500.00. Following the completion of the sale, the chief accounting officer now directly owns 11,711 shares of the company’s stock, valued at approximately $3,220,525. The trade was a 4.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $328.18, for a total transaction of $2,041,607.78. Following the completion of the transaction, the chief financial officer now owns 46,750 shares of the company’s stock, valued at $15,342,415. This trade represents a 11.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 45,830 shares of company stock valued at $12,907,361 in the last quarter. Corporate insiders own 3.20% of the company’s stock.

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.