Smith Moore & CO. Purchases 159 Shares of Salesforce, Inc. (NYSE:CRM)

Smith Moore & CO. lifted its holdings in Salesforce, Inc. (NYSE:CRM) by 10.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,627 shares of the CRM provider’s stock after buying an additional 159 shares during the period. Smith Moore & CO.’s holdings in Salesforce were worth $544,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Arlington Trust Co LLC lifted its stake in Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after buying an additional 40 shares during the period. Compass Financial Services Inc bought a new stake in shares of Salesforce in the 4th quarter valued at $30,000. Asset Planning Inc acquired a new position in shares of Salesforce during the 4th quarter valued at $31,000. Collier Financial bought a new position in Salesforce during the fourth quarter worth $32,000. Finally, Halbert Hargrove Global Advisors LLC acquired a new stake in Salesforce in the fourth quarter worth $35,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Price Performance

Salesforce stock opened at $240.26 on Friday. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. 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 firm has a 50-day moving average price of $302.46 and a 200-day moving average price of $311.39. The firm has a market capitalization 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 firm also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend is Thursday, April 10th. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s payout ratio is 26.10%.

Insider Activity

In other Salesforce news, CAO Sundeep G. Reddy sold 500 shares of the company’s stock in a transaction on 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 $2,202,758.58. This represents a 7.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Oscar Munoz bought 3,882 shares of the firm’s stock in a transaction dated Thursday, April 3rd. The shares were acquired at an average price of $257.28 per share, with a total value of $998,760.96. Following the completion of the transaction, the director now owns 11,843 shares of the company’s stock, valued at approximately $3,046,967.04. The trade was a 48.76 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 45,660 shares of company stock valued at $14,095,336. 3.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have issued reports on CRM shares. Redburn Atlantic assumed coverage on Salesforce in a report on Wednesday, February 19th. They issued a “buy” rating on the stock. Canaccord Genuity Group reduced their price target on shares of Salesforce from $415.00 to $400.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Jefferies Financial Group decreased their price target on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a research note on Monday, March 31st. TD Cowen raised shares of Salesforce from a “hold” rating to a “buy” rating and raised their price objective for the company from $380.00 to $400.00 in a research note on Friday, January 17th. Finally, Macquarie reaffirmed a “neutral” rating and set a $320.00 target price on shares of Salesforce in a research report on Thursday, March 20th. One research 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.