Paloma Partners Management Co Purchases 61,700 Shares of Salesforce, Inc. (NYSE:CRM)

Paloma Partners Management Co raised its position in shares of Salesforce, Inc. (NYSE:CRM) by 224.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 89,200 shares of the CRM provider’s stock after buying an additional 61,700 shares during the period. Salesforce comprises 1.3% of Paloma Partners Management Co’s portfolio, making the stock its 18th biggest position. Paloma Partners Management Co’s holdings in Salesforce were worth $29,822,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Nvest Financial LLC increased its holdings in shares of Salesforce by 1.1% in the fourth quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock valued at $938,000 after purchasing an additional 31 shares in the last quarter. OMC Financial Services LTD increased its stake in Salesforce by 0.3% in the 4th quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock valued at $3,808,000 after buying an additional 31 shares during the last quarter. Capital Advisors Ltd. LLC increased its stake in shares of 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 purchasing an additional 31 shares during the last quarter. Sachetta LLC lifted its position in shares of Salesforce by 0.3% in the fourth quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock valued at $3,684,000 after buying an additional 32 shares during the last quarter. Finally, Prossimo Advisors LLC lifted its position in shares of Salesforce by 1.0% in the fourth quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock valued at $1,125,000 after buying an additional 32 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Stock Performance

Shares of CRM stock opened at $265.61 on Tuesday. The company has a market cap of $255.35 billion, a price-to-earnings ratio of 43.69, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm has a 50 day moving average of $272.58 and a 200-day moving average of $308.39.

Salesforce Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were given a dividend of $0.42 per share. This is an increase from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.68 annualized dividend and a dividend yield of 0.63%. Salesforce’s dividend payout ratio (DPR) is 26.10%.

Wall Street Analysts Forecast Growth

CRM has been the subject of several research reports. Jefferies Financial Group dropped their price target on Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a report on Monday, March 31st. Wells Fargo & Company lowered their price objective on Salesforce from $310.00 to $255.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 22nd. Bank of America decreased their price target on Salesforce from $440.00 to $400.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Stifel Nicolaus decreased 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. Finally, Stephens started coverage on Salesforce in a research note on Wednesday, March 19th. They issued an “equal weight” rating and a $311.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and an average price target of $351.37.

Insider Activity at Salesforce

In related news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $335.94, for a total value of $2,089,882.74. Following the completion of the sale, the chief financial officer now owns 46,750 shares of the company’s stock, valued at approximately $15,705,195. This trade represents a 11.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Sundeep G. Reddy sold 500 shares of Salesforce stock in a transaction on 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 approximately $2,202,758.58. The trade was a 7.09 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 52,051 shares of company stock valued at $15,027,714. 3.20% of the stock is owned by company insiders.

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.