Norinchukin Bank The Increases Stake in Salesforce, Inc. (NYSE:CRM)

Norinchukin Bank The raised its stake in shares of Salesforce, Inc. (NYSE:CRM) by 5.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 53,664 shares of the CRM provider’s stock after purchasing an additional 2,754 shares during the period. Norinchukin Bank The’s holdings in Salesforce were worth $17,941,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Bank of Nova Scotia Trust Co. boosted its holdings in Salesforce by 4.9% in the fourth quarter. Bank of Nova Scotia Trust Co. now owns 30,690 shares of the CRM provider’s stock valued at $10,261,000 after acquiring an additional 1,422 shares during the last quarter. Claret Asset Management Corp lifted its stake in shares of Salesforce by 40.1% in the 4th quarter. Claret Asset Management Corp now owns 1,620 shares of the CRM provider’s stock valued at $542,000 after purchasing an additional 464 shares in the last quarter. Dnca Finance grew its holdings in shares of Salesforce by 0.9% during the 4th quarter. Dnca Finance now owns 34,100 shares of the CRM provider’s stock worth $11,401,000 after purchasing an additional 300 shares during the period. Epoch Investment Partners Inc. increased its position in Salesforce by 20.4% during the 4th quarter. Epoch Investment Partners Inc. now owns 925,791 shares of the CRM provider’s stock worth $309,520,000 after purchasing an additional 156,936 shares in the last quarter. Finally, Freedom Investment Management Inc. raised its holdings in Salesforce by 25.5% in the fourth quarter. Freedom Investment Management Inc. now owns 2,592 shares of the CRM provider’s stock valued at $867,000 after buying an additional 526 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Activity at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 436 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $144,874.08. Following the sale, the chief accounting officer now owns 7,057 shares in the company, valued at approximately $2,344,899.96. This trade represents a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brian Millham sold 3,937 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $284.58, for a total value of $1,120,391.46. Following the transaction, the chief executive officer now owns 5,518 shares of the company’s stock, valued at approximately $1,570,312.44. This represents a 41.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 47,654 shares of company stock worth $14,124,094 in the last ninety days. 3.20% of the stock is owned by insiders.

Salesforce Price Performance

Shares of CRM opened at $246.93 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market cap of $237.30 billion, a P/E ratio of 40.61, 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 stock has a fifty day moving average price of $281.23 and a 200 day moving average price of $309.39.

Salesforce Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 10th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date is Thursday, April 10th. This is a boost from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s dividend payout ratio (DPR) is 26.10%.

Analysts Set New Price Targets

Several research firms have recently issued reports on CRM. Robert W. Baird dropped their price objective on shares of Salesforce from $430.00 to $400.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. Oppenheimer cut their price objective on Salesforce from $415.00 to $380.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. Stephens initiated coverage on Salesforce in a research report on Wednesday, March 19th. They issued an “equal weight” rating and a $311.00 target price for the company. Bank of America dropped their target price on Salesforce from $440.00 to $400.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Salesforce in a research report on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty have assigned a buy rating and five have given a strong buy rating to the company’s stock. According to MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and a consensus price target of $360.32.

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.