Nicolet Bankshares Inc. Decreases Stock Position in Salesforce, Inc. (NYSE:CRM)

Nicolet Bankshares Inc. decreased its position in shares of Salesforce, Inc. (NYSE:CRM) by 0.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 8,056 shares of the CRM provider’s stock after selling 69 shares during the period. Nicolet Bankshares Inc.’s holdings in Salesforce were worth $2,693,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Nvest Financial LLC raised its stake in shares of Salesforce by 1.1% during the fourth 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 position in shares of 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 period. Capital Advisors Ltd. LLC increased its stake in shares of Salesforce by 4.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock valued at $263,000 after acquiring an additional 31 shares during the last quarter. Sachetta LLC boosted 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 acquiring an additional 32 shares during the last quarter. Finally, Prossimo Advisors LLC grew its holdings in Salesforce by 1.0% during the fourth quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock valued at $1,125,000 after purchasing an additional 32 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analysts Set New Price Targets

CRM has been the subject of several research analyst reports. DA Davidson decreased their price objective on Salesforce from $300.00 to $275.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. Macquarie restated a “neutral” rating and set a $320.00 price objective on shares of Salesforce in a report on Thursday, March 20th. Jefferies Financial Group reduced their target price on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Guggenheim reissued a “sell” rating and issued a $247.00 price target on shares of Salesforce in a research note on Thursday, February 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $400.00 price objective on shares of Salesforce in a research report on Thursday, February 27th. One investment 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $361.42.

Insider Buying and Selling at Salesforce

In related news, Director Oscar Munoz acquired 3,882 shares of the company’s stock in a transaction dated Thursday, April 3rd. The shares were purchased at an average price of $257.28 per share, for a total transaction of $998,760.96. Following the completion of the acquisition, the director now owns 11,843 shares of the company’s stock, valued at approximately $3,046,967.04. This trade represents a 48.76 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Parker Harris sold 652 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $216,646.56. Following the completion of the sale, the insider now owns 121,467 shares of the company’s stock, valued at approximately $40,361,054.76. This represents a 0.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 45,660 shares of company stock valued at $14,095,336. 3.20% of the stock is currently owned by company insiders.

Salesforce Stock Performance

Shares of CRM stock opened at $254.98 on Friday. The business’s 50-day moving average price is $289.29 and its 200-day moving average price is $310.46. The firm has a market capitalization of $245.04 billion, a price-to-earnings ratio of 41.94, a PEG ratio of 2.58 and a beta of 1.38. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.66%. 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 26.10%.

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.