Salesforce, Inc. (NYSE:CRM) Shares Purchased by Federated Hermes Inc.

Federated Hermes Inc. increased its position in shares of Salesforce, Inc. (NYSE:CRM) by 13.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 397,949 shares of the CRM provider’s stock after acquiring an additional 47,478 shares during the quarter. Federated Hermes Inc.’s holdings in Salesforce were worth $133,046,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of CRM. Geode Capital Management LLC increased its holdings in shares of Salesforce by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 19,955,353 shares of the CRM provider’s stock worth $6,656,078,000 after buying an additional 175,035 shares during the last quarter. Fisher Asset Management LLC grew its position in Salesforce by 1.4% in the fourth quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider’s stock worth $4,163,703,000 after acquiring an additional 177,321 shares during the period. Norges Bank acquired a new stake in Salesforce during the fourth quarter worth $3,599,867,000. Massachusetts Financial Services Co. MA raised its position in Salesforce by 10.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 6,593,295 shares of the CRM provider’s stock valued at $2,204,336,000 after purchasing an additional 628,593 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Salesforce by 2.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,066,354 shares of the CRM provider’s stock valued at $2,028,164,000 after purchasing an additional 153,500 shares during the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Salesforce

In other Salesforce news, Director Oscar Munoz acquired 3,882 shares of the stock in a transaction on Thursday, April 3rd. The shares were bought at an average cost of $257.28 per share, with a total value of $998,760.96. Following the transaction, the director now owns 11,843 shares of the company’s stock, valued at approximately $3,046,967.04. This trade represents a 48.76 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider R David Schmaier sold 1,785 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 29,190 shares of the company’s stock, valued at $8,416,644.60. The trade was a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 45,660 shares of company stock worth $14,095,336. Corporate insiders own 3.20% of the company’s stock.

Salesforce Trading Down 5.9 %

NYSE CRM opened at $240.26 on Friday. The firm’s fifty day moving average price is $302.46 and its 200 day moving average price is $311.39. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market capitalization of $230.89 billion, a price-to-earnings ratio of 39.52, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38.

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 issued a dividend of $0.42 per share. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 10th. This represents a $1.68 annualized dividend and a dividend yield of 0.70%. Salesforce’s dividend payout ratio (DPR) is presently 26.10%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CRM. Jefferies Financial Group reduced their price objective on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Loop Capital reduced their price target on shares of Salesforce from $330.00 to $300.00 and set a “hold” rating on the stock in a research note on Thursday, February 27th. Guggenheim reaffirmed a “sell” rating and set a $247.00 price objective on shares of Salesforce in a research report on Thursday, February 27th. KeyCorp raised Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 target price on the stock in a research report on Friday, December 13th. Finally, Needham & Company LLC restated a “buy” rating and set a $400.00 price target on shares of Salesforce in a research report on Thursday, February 27th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $361.42.

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.