Salesforce, Inc. (NYSE:CRM) Stake Boosted by Bragg Financial Advisors Inc

Bragg Financial Advisors Inc lifted its stake in Salesforce, Inc. (NYSE:CRM - Free Report) by 11.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 38,807 shares of the CRM provider's stock after acquiring an additional 3,844 shares during the quarter. Bragg Financial Advisors Inc's holdings in Salesforce were worth $12,974,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Nvest Financial LLC boosted its position 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 period. OMC Financial Services LTD boosted its holdings in Salesforce by 0.3% during the 4th quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider's stock valued at $3,808,000 after acquiring an additional 31 shares during the period. Capital Advisors Ltd. LLC grew its position in 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 in the last quarter. Sachetta LLC increased its stake in Salesforce by 0.3% during the fourth quarter. Sachetta LLC now owns 11,018 shares of the CRM provider's stock worth $3,684,000 after purchasing an additional 32 shares during the period. Finally, Prossimo Advisors LLC lifted its holdings in Salesforce by 1.0% during the 4th quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider's stock worth $1,125,000 after buying an additional 32 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company's stock.

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Salesforce Stock Up 0.4 %

CRM stock traded up $0.95 during midday trading on Tuesday, hitting $255.50. 438,622 shares of the company's stock were exchanged, compared to its average volume of 6,796,415. The stock has a market capitalization of $245.54 billion, a price-to-earnings ratio of 42.04, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm has a 50 day moving average price of $287.42 and a 200-day moving average price of $310.55. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00.

Salesforce Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th will be given a $0.42 dividend. The ex-dividend date is Thursday, April 10th. This represents a $1.68 annualized dividend and a dividend yield of 0.66%. This is an increase from Salesforce's previous quarterly dividend of $0.40. Salesforce's payout ratio is presently 26.10%.

Analyst Upgrades and Downgrades

CRM has been the topic of a number of recent research reports. Scotiabank cut their target price on shares of Salesforce from $400.00 to $345.00 and set a "sector outperform" rating on the stock in a research note on Monday, March 17th. Wedbush reaffirmed an "outperform" rating and set a $425.00 price target on shares of Salesforce in a research report on Wednesday, December 18th. Stephens assumed coverage on shares of Salesforce in a report on Wednesday, March 19th. They issued an "equal weight" rating and a $311.00 target price on the stock. Citigroup reiterated a "buy" rating on shares of Salesforce in a research note on Wednesday, March 19th. Finally, DA Davidson decreased their target price on shares of Salesforce from $275.00 to $250.00 and set a "neutral" rating for the company in a research note on Monday. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $360.76.

Insider Transactions at Salesforce

In other news, insider Parker Harris sold 652 shares of the firm's stock in a transaction on Thursday, January 23rd. The stock was 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 $40,361,054.76. This trade represents a 0.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, 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 value of $2,052,183.48. Following the transaction, the chief financial officer now directly owns 45,861 shares in the company, valued at $15,128,626.68. The trade was a 11.94 % 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 valued at $14,095,336. Insiders own 3.20% of the company's stock.

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.