SGL Investment Advisors Inc. Increases Stake in Salesforce, Inc. (NYSE:CRM)

SGL Investment Advisors Inc. raised its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 7.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 738 shares of the CRM provider’s stock after purchasing an additional 51 shares during the quarter. SGL Investment Advisors Inc.’s holdings in Salesforce were worth $241,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Shell Asset Management Co. lifted its stake in shares of Salesforce by 1.9% during the 4th quarter. Shell Asset Management Co. now owns 27,758 shares of the CRM provider’s stock valued at $9,280,000 after buying an additional 510 shares in the last quarter. Sherbrooke Park Advisers LLC bought a new stake in Salesforce during the 4th quarter valued at $268,000. Silvercrest Asset Management Group LLC lifted its position in shares of Salesforce by 584.8% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 12,025 shares of the CRM provider’s stock worth $4,020,000 after acquiring an additional 10,269 shares in the last quarter. Sora Investors LLC boosted its holdings in shares of Salesforce by 86.7% in the fourth quarter. Sora Investors LLC now owns 56,001 shares of the CRM provider’s stock worth $18,723,000 after acquiring an additional 26,001 shares during the period. Finally, Raiffeisen Bank International AG bought a new position in shares of Salesforce in the fourth quarter worth $65,988,000. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Performance

Shares of CRM stock opened at $290.48 on Friday. The company has a market capitalization of $279.26 billion, a P/E ratio of 47.78, a PEG ratio of 2.58 and a beta of 1.42. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. 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 stock has a 50 day moving average price of $267.83 and a two-hundred day moving average price of $307.08.

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 paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 0.58%. This is an increase from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, April 10th. Salesforce’s payout ratio is presently 26.10%.

Analysts Set New Price Targets

A number of analysts recently issued reports on CRM shares. BMO Capital Markets reissued an “outperform” rating on shares of Salesforce in a report on Wednesday, March 19th. Stephens assumed coverage on shares of Salesforce in a report on Wednesday, March 19th. They issued an “equal weight” rating and a $311.00 price target on the stock. Scotiabank cut their price objective on shares of Salesforce from $400.00 to $345.00 and set a “sector outperform” rating for the company in a research report on Monday, March 17th. Jefferies Financial Group decreased their target price on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Finally, Macquarie reissued a “neutral” rating and issued a $320.00 price target on shares of Salesforce in a report on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have assigned a buy rating and five have given a strong buy rating to the stock. According to MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and a consensus price target of $352.62.

Insider Activity at Salesforce

In related news, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $328.18, for a total transaction of $2,041,607.78. Following the completion of the transaction, the chief financial officer now owns 46,750 shares in the company, valued at $15,342,415. This represents a 11.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Sundeep G. Reddy sold 1,909 shares of the firm’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $284.58, for a total value of $543,263.22. Following the completion of the sale, the chief accounting officer now directly owns 11,310 shares of the company’s stock, valued at $3,218,599.80. The trade was a 14.44% decrease in their position. The disclosure for this sale can be found here. Insiders sold 52,527 shares of company stock worth $14,882,976 in the last three months. 3.20% of the stock is owned by 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.