MainStreet Investment Advisors LLC Grows Stock Position in Salesforce, Inc. (NYSE:CRM)

MainStreet Investment Advisors LLC grew its position in Salesforce, Inc. (NYSE:CRM) by 6.2% during the fourth quarter, Holdings Channel reports. The firm owned 1,129 shares of the CRM provider’s stock after acquiring an additional 66 shares during the period. MainStreet Investment Advisors LLC’s holdings in Salesforce were worth $377,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of the company. Nvest Financial LLC grew its stake in Salesforce by 1.1% during the 4th quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock worth $938,000 after buying an additional 31 shares during the last quarter. OMC Financial Services LTD grew its stake in Salesforce by 0.3% during the 4th quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock worth $3,808,000 after buying an additional 31 shares during the last quarter. Capital Advisors Ltd. LLC grew its stake in Salesforce by 4.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock worth $263,000 after buying an additional 31 shares during the last quarter. Sachetta LLC grew its stake in Salesforce by 0.3% during the 4th quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock worth $3,684,000 after buying an additional 32 shares during the last quarter. Finally, Prossimo Advisors LLC grew its stake in Salesforce by 1.0% during the 4th quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock worth $1,125,000 after buying an additional 32 shares during the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CRM has been the topic of a number of research reports. Stifel Nicolaus dropped their price target on Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Jefferies Financial Group dropped their price target on Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Needham & Company LLC restated a “buy” rating and set a $400.00 price target on shares of Salesforce in a research note on Friday, April 25th. Stephens started coverage on Salesforce in a research report on Wednesday, March 19th. They set an “equal weight” rating and a $311.00 price objective for the company. Finally, TD Cowen raised Salesforce from a “hold” rating to a “buy” rating and boosted their target price for the company from $380.00 to $400.00 in a report on Friday, January 17th. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have given a buy rating and five have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $350.56.

Salesforce Stock Performance

Shares of NYSE CRM opened at $289.18 on Wednesday. The company has a 50-day simple moving average of $267.33 and a 200-day simple moving average of $307.23. 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 cap of $278.01 billion, a PE ratio of 47.56, a price-to-earnings-growth ratio of 2.58 and a beta of 1.42. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00.

Salesforce Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a yield of 0.58%. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s dividend payout ratio (DPR) is 26.10%.

Insiders Place Their Bets

In other Salesforce news, insider R David Schmaier sold 6,959 shares of Salesforce stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total value of $1,762,784.29. Following the completion of the sale, the insider now directly 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Sundeep G. Reddy sold 500 shares of Salesforce stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $275.00, for a total transaction of $137,500.00. Following the completion of the sale, the chief accounting officer now directly owns 11,711 shares of the company’s stock, valued at $3,220,525. The trade was a 4.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 45,830 shares of company stock valued at $12,907,361. Company insiders own 3.20% of the company’s stock.

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.