Stifel Financial Corp Boosts Holdings in Salesforce, Inc. (NYSE:CRM)

Stifel Financial Corp grew its holdings in Salesforce, Inc. (NYSE:CRM) by 3.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,245,383 shares of the CRM provider’s stock after purchasing an additional 46,498 shares during the quarter. Stifel Financial Corp owned approximately 0.13% of Salesforce worth $416,403,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the stock. Bernard Wealth Management Corp. purchased a new stake in shares of Salesforce in the fourth quarter valued at $25,000. Arlington Trust Co LLC boosted its position in shares of Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after acquiring an additional 40 shares during the last quarter. Compass Financial Services Inc acquired a new stake in shares of Salesforce during the 4th quarter worth $30,000. Asset Planning Inc purchased a new stake in Salesforce during the fourth quarter valued at about $31,000. Finally, Collier Financial purchased a new stake in shares of Salesforce during the 4th quarter worth about $32,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Salesforce

In other news, insider R David Schmaier sold 6,959 shares of the business’s stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total value of $1,762,784.29. Following the sale, the insider now owns 36,090 shares of the company’s stock, valued at approximately $9,141,957.90. The trade was a 16.17 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Sundeep G. Reddy sold 500 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $335.94, for a total transaction of $167,970.00. Following the completion of the sale, the chief accounting officer now directly owns 6,557 shares of the company’s stock, valued at $2,202,758.58. The trade was a 7.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 47,654 shares of company stock valued at $14,124,094 in the last ninety days. Company insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

CRM has been the topic of several research reports. TD Cowen upgraded shares of Salesforce from a “hold” rating to a “buy” rating and raised their price target for the company from $380.00 to $400.00 in a report on Friday, January 17th. Citigroup restated a “buy” rating on shares of Salesforce in a report on Wednesday, March 19th. Wells Fargo & Company lowered their price target on Salesforce from $345.00 to $310.00 and set an “equal weight” rating for the company in a report on Thursday, February 27th. Stifel Nicolaus decreased their target price on Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Finally, Oppenheimer lowered their target price on Salesforce from $415.00 to $380.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirty have given a buy rating and five have given a strong buy rating to the company. Based on data from MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and an average target price of $360.32.

Salesforce Trading Down 1.2 %

NYSE CRM opened at $246.93 on Monday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The company has a 50-day simple moving average of $281.23 and a 200-day simple moving average of $309.80. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The firm has a market capitalization of $237.30 billion, a PE ratio of 40.61, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38.

Salesforce Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th will be issued a dividend of $0.42 per share. This is an increase 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 0.68%. Salesforce’s payout ratio is 26.10%.

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.