McIlrath & Eck LLC Buys 171 Shares of Salesforce, Inc. (NYSE:CRM)

McIlrath & Eck LLC increased its stake in shares of Salesforce, Inc. (NYSE:CRM) by 62.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 443 shares of the CRM provider’s stock after buying an additional 171 shares during the quarter. McIlrath & Eck LLC’s holdings in Salesforce were worth $148,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Foundations Investment Advisors LLC raised its stake in Salesforce by 15.0% in the fourth quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock valued at $12,194,000 after purchasing an additional 4,752 shares in the last quarter. Athena Investment Management acquired a new position in shares of Salesforce in the 4th quarter valued at approximately $236,000. Highland Capital Management LLC bought a new stake in shares of Salesforce during the 4th quarter worth approximately $4,321,000. Jag Capital Management LLC boosted its position in shares of Salesforce by 2,507.9% during the 4th quarter. Jag Capital Management LLC now owns 23,706 shares of the CRM provider’s stock worth $7,926,000 after acquiring an additional 22,797 shares in the last quarter. Finally, Lecap Asset Management Ltd. bought a new position in Salesforce in the fourth quarter valued at approximately $2,861,000. Institutional investors own 80.43% of the company’s stock.

Insider Activity

In related news, insider Miguel Milano sold 458 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $307.97, for a total transaction of $141,050.26. Following the completion of the sale, the insider now owns 5,864 shares in the company, valued at approximately $1,805,936.08. This trade represents a 7.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $301.00, for a total transaction of $1,872,521.00. Following the completion of the sale, the chief financial officer now directly owns 46,750 shares in the company, valued at approximately $14,071,750. This represents a 11.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 46,306 shares of company stock valued at $12,841,368 in the last ninety days. 3.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CRM shares. Robert W. Baird lowered their price target on Salesforce from $430.00 to $400.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. Stephens assumed coverage on Salesforce in a research note on Wednesday, March 19th. They set an “equal weight” rating and a $311.00 target price for the company. 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. Needham & Company LLC reiterated a “buy” rating and set a $400.00 price objective on shares of Salesforce in a research report on Friday, April 25th. Finally, Canaccord Genuity Group dropped their price objective on shares of Salesforce from $415.00 to $400.00 and set a “buy” 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-two have assigned a buy rating and five have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $352.62.

Salesforce Stock Performance

NYSE CRM opened at $287.64 on Wednesday. The company has a fifty day moving average price of $268.48 and a 200-day moving average price of $307.02. The firm has a market cap of $276.53 billion, a price-to-earnings ratio of 47.31, a PEG ratio of 2.58 and a beta of 1.42. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00.

Salesforce Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date was Thursday, April 10th. This is an increase from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s dividend payout ratio is 26.10%.

About Salesforce

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.