Salesforce, Inc. (NYSE:CRM) Stake Raised by Kelly Lawrence W & Associates Inc. CA

Kelly Lawrence W & Associates Inc. CA increased its holdings in Salesforce, Inc. (NYSE:CRM) by 0.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,234 shares of the CRM provider’s stock after purchasing an additional 90 shares during the quarter. Salesforce accounts for 1.0% of Kelly Lawrence W & Associates Inc. CA’s holdings, making the stock its 27th biggest position. Kelly Lawrence W & Associates Inc. CA’s holdings in Salesforce were worth $4,090,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its position in shares of Salesforce by 0.9% in the fourth 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 period. Fisher Asset Management LLC increased its holdings in shares of Salesforce by 1.4% in the 4th quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider’s stock valued at $4,163,703,000 after purchasing an additional 177,321 shares during the period. Norges Bank purchased a new stake in shares of Salesforce in the fourth quarter worth approximately $3,599,867,000. Invesco Ltd. increased its stake in Salesforce by 42.5% in the 4th quarter. Invesco Ltd. now owns 7,791,015 shares of the CRM provider’s stock valued at $2,604,770,000 after buying an additional 2,325,156 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Salesforce by 10.5% during the 4th 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 buying an additional 628,593 shares during the period. 80.43% of the stock is currently owned by institutional investors.

Salesforce Stock Performance

Shares of NYSE:CRM opened at $246.93 on Friday. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The business has a 50-day moving average price of $281.23 and a two-hundred day moving average price of $309.60. 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 stock has a market capitalization of $237.30 billion, a P/E ratio of 40.61, a P/E/G 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. Stockholders of record on Thursday, April 10th will be given a $0.42 dividend. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a dividend yield of 0.68%. The ex-dividend date is Thursday, April 10th. Salesforce’s dividend payout ratio (DPR) is currently 26.10%.

Wall Street Analysts Forecast Growth

CRM has been the topic of several research reports. Citigroup reaffirmed a “buy” rating on shares of Salesforce in a research report on Wednesday, March 19th. Guggenheim reaffirmed a “sell” rating and set a $247.00 target price on shares of Salesforce in a research report on Thursday, February 27th. DA Davidson lowered their price target on Salesforce from $275.00 to $250.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Salesforce in a research report on Wednesday, March 19th. Finally, Canaccord Genuity Group cut their price target on Salesforce from $415.00 to $400.00 and set a “buy” rating for the company in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty have assigned a buy rating and five have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and an average target price of $360.32.

Insider Transactions at Salesforce

In related news, CFO Amy E. Weaver sold 897 shares of the business’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $298,055.16. Following the sale, the chief financial officer now directly owns 46,750 shares of the company’s stock, valued at approximately $15,534,090. The trade was a 1.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Sundeep G. Reddy sold 500 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $335.94, for a total value of $167,970.00. Following the transaction, the chief accounting officer now owns 6,557 shares of the company’s stock, valued at approximately $2,202,758.58. This trade represents a 7.09 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,654 shares of company stock worth $14,124,094. 3.20% of the stock is currently owned by company insiders.

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.