Himension Capital Singapore PTE. LTD. Buys Shares of 3,111 Salesforce, Inc. (NYSE:CRM)

Himension Capital Singapore PTE. LTD. purchased a new position in Salesforce, Inc. (NYSE:CRM) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,111 shares of the CRM provider’s stock, valued at approximately $1,040,000.

Other large investors also recently modified their holdings of the company. Norges Bank purchased a new stake in Salesforce in the 4th quarter worth approximately $3,599,867,000. Raymond James Financial Inc. bought a new position in shares of Salesforce in the fourth quarter worth $1,173,564,000. Jennison Associates LLC raised its position in shares of Salesforce by 52.7% in the fourth quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider’s stock worth $1,482,347,000 after buying an additional 1,530,572 shares in the last quarter. Swedbank AB boosted its stake in Salesforce by 46.7% during the fourth quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider’s stock valued at $1,280,408,000 after buying an additional 1,219,254 shares during the period. Finally, Franklin Resources Inc. grew its position in Salesforce by 27.4% during the fourth quarter. Franklin Resources Inc. now owns 5,598,423 shares of the CRM provider’s stock worth $1,871,721,000 after buying an additional 1,204,355 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors.

Salesforce Stock Performance

Shares of CRM stock opened at $240.26 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 52-week low of $212.00 and a 52-week high of $369.00. The business has a 50-day simple moving average of $302.46 and a 200-day simple moving average of $311.39. The stock has a market cap of $230.89 billion, a PE ratio of 39.52, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38.

Salesforce Increases Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a yield of 0.70%. This is a boost from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s dividend payout ratio (DPR) is currently 26.10%.

Insider Transactions at Salesforce

In other news, insider R David Schmaier sold 1,785 shares of the stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $288.34, for a total value of $514,686.90. Following the sale, the insider now directly owns 29,190 shares in the company, valued at approximately $8,416,644.60. This trade represents a 5.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Oscar Munoz purchased 3,882 shares of the firm’s stock in a transaction that occurred on Thursday, April 3rd. The stock was purchased at an average price of $257.28 per share, with a total value of $998,760.96. Following the purchase, the director now directly owns 11,843 shares of the company’s stock, valued at $3,046,967.04. The trade was a 48.76 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 45,660 shares of company stock valued at $14,095,336 over the last 90 days. Corporate insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CRM shares. JMP Securities reiterated a “market outperform” rating and set a $450.00 price target on shares of Salesforce in a research report on Wednesday, December 18th. Redburn Atlantic initiated coverage on shares of Salesforce in a research report on Wednesday, February 19th. They set a “buy” rating for the company. Wedbush reissued an “outperform” rating and issued a $425.00 price target on shares of Salesforce in a report on Wednesday, December 18th. DA Davidson dropped their price objective on shares of Salesforce from $300.00 to $275.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $400.00 target price on shares of Salesforce in a research note on Thursday, February 27th. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $361.42.

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.