CSM Advisors LLC Has $11.75 Million Stock Position in Salesforce, Inc. (NYSE:CRM)

CSM Advisors LLC trimmed its holdings in Salesforce, Inc. (NYSE:CRM - Free Report) by 6.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,157 shares of the CRM provider's stock after selling 2,308 shares during the quarter. CSM Advisors LLC's holdings in Salesforce were worth $11,751,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in CRM. Norges Bank acquired a new position in Salesforce in the fourth quarter worth approximately $3,599,867,000. Raymond James Financial Inc. bought a new stake in shares of Salesforce during the 4th quarter worth $1,173,564,000. Invesco Ltd. grew its holdings in shares of Salesforce by 42.5% in the 4th quarter. Invesco Ltd. now owns 7,791,015 shares of the CRM provider's stock worth $2,604,770,000 after acquiring an additional 2,325,156 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Salesforce by 23.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,938,536 shares of the CRM provider's stock worth $2,988,422,000 after purchasing an additional 1,683,233 shares during the period. Finally, Jennison Associates LLC lifted its holdings in shares of Salesforce by 52.7% during the fourth quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider's stock valued at $1,482,347,000 after purchasing an additional 1,530,572 shares during the last quarter. Institutional investors own 80.43% of the company's stock.

Salesforce Stock Performance

CRM traded up $3.17 during midday trading on Friday, reaching $267.87. The company's stock had a trading volume of 5,649,322 shares, compared to its average volume of 6,811,850. 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 company has a fifty day simple moving average of $273.75 and a 200 day simple moving average of $308.27. The stock has a market cap of $257.42 billion, a P/E ratio of 44.06, a PEG ratio of 2.58 and a beta of 1.38. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00.

Salesforce Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were paid a dividend of $0.42 per share. This is a boost from Salesforce's previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend was Thursday, April 10th. Salesforce's dividend payout ratio is presently 26.10%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CRM. Citigroup reissued a "buy" rating on shares of Salesforce in a research note on Wednesday, March 19th. Stifel Nicolaus dropped their target price on shares of Salesforce from $425.00 to $375.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Macquarie restated a "neutral" rating and issued a $320.00 price target on shares of Salesforce in a research report on Thursday, March 20th. Stephens assumed coverage on shares of Salesforce in a research report on Wednesday, March 19th. They set an "equal weight" rating and a $311.00 price objective on the stock. Finally, Bank of America reduced their target price on Salesforce from $440.00 to $400.00 and set a "buy" rating for the company in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $351.37.

Insider Buying and Selling at Salesforce

In related news, CFO Amy E. Weaver sold 6,221 shares of the firm's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $335.94, for a total value of $2,089,882.74. Following the completion of the transaction, the chief financial officer now directly owns 46,750 shares of the company's stock, valued at $15,705,195. This trade represents a 11.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Miguel Milano sold 458 shares of the business's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $307.97, for a total transaction of $141,050.26. Following the completion of the sale, the insider now directly owns 5,864 shares in the company, valued at $1,805,936.08. This trade represents a 7.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,051 shares of company stock valued at $15,027,714 in the last ninety days. Company insiders own 3.20% of the company's stock.

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.