MV Capital Management Inc. Trims Stock Holdings in Salesforce, Inc. (NYSE:CRM)

MV Capital Management Inc. lowered its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 0.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 10,205 shares of the CRM provider’s stock after selling 65 shares during the quarter. MV Capital Management Inc.’s holdings in Salesforce were worth $3,412,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of CRM. Foundations Investment Advisors LLC increased its position in shares of Salesforce by 15.0% during the fourth quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock worth $12,194,000 after acquiring an additional 4,752 shares during the period. Nabity Jensen Investment Management Inc bought a new position in Salesforce in the third quarter worth approximately $1,215,000. Athena Investment Management purchased a new position in Salesforce during the 4th quarter worth $236,000. Highland Capital Management LLC bought a new stake in Salesforce during the 4th quarter valued at $4,321,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Salesforce by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock worth $5,395,132,000 after buying an additional 257,501 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Stock Down 2.8 %

CRM stock opened at $270.04 on Friday. Salesforce, Inc. has a one year low of $212.00 and a one year 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 firm’s fifty day moving average is $309.39 and its 200 day moving average is $310.68. The firm has a market cap of $259.51 billion, a PE ratio of 44.42, a P/E/G ratio of 2.58 and a beta of 1.35.

Salesforce Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 10th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend is Thursday, April 10th. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s payout ratio is currently 25.16%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Robert W. Baird cut their price target on Salesforce from $430.00 to $400.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. The Goldman Sachs Group lifted their price target on Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Wedbush restated an “outperform” rating and issued a $425.00 price target on shares of Salesforce in a report on Wednesday, December 18th. Oppenheimer reduced their price objective on shares of Salesforce from $415.00 to $380.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. Finally, Wells Fargo & Company decreased their target price on shares of Salesforce from $345.00 to $310.00 and set an “equal weight” rating for the company in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the company’s stock. According to data from MarketBeat, Salesforce has an average rating of “Moderate Buy” and an average target price of $362.74.

Insiders Place Their Bets

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $329.88, for a total transaction of $2,052,183.48. Following the completion of the transaction, the chief financial officer now directly owns 45,861 shares in the company, valued at approximately $15,128,626.68. This represents a 11.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider R David Schmaier sold 1,785 shares of the stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $288.34, for a total transaction of $514,686.90. Following the transaction, the insider now directly owns 29,190 shares in the company, valued at approximately $8,416,644.60. The trade was a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 45,660 shares of company stock worth $14,095,336. 3.20% of the stock is owned by corporate insiders.

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.