Invesco Ltd. Boosts Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Invesco Ltd. raised its position in Salesforce, Inc. (NYSE:CRM - Free Report) by 42.5% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 7,791,015 shares of the CRM provider's stock after purchasing an additional 2,325,156 shares during the period. Salesforce comprises approximately 0.5% of Invesco Ltd.'s portfolio, making the stock its 17th biggest holding. Invesco Ltd. owned 0.81% of Salesforce worth $2,604,770,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in CRM. Concentrum Wealth Management acquired a new stake in shares of Salesforce during the 4th quarter worth about $1,004,000. Trek Financial LLC boosted its holdings in Salesforce by 1,402.7% in the fourth quarter. Trek Financial LLC now owns 11,240 shares of the CRM provider's stock valued at $3,758,000 after acquiring an additional 10,492 shares during the last quarter. Polymer Capital Management HK LTD purchased a new stake in Salesforce during the fourth quarter valued at about $1,688,000. Ashburton Jersey Ltd purchased a new position in shares of Salesforce in the 4th quarter worth about $4,084,000. Finally, Aster Capital Management DIFC Ltd increased its position in Salesforce by 3,052.3% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 4,035 shares of the CRM provider's stock worth $1,349,000 after purchasing an additional 3,907 shares in the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Stock Performance

NYSE CRM opened at $240.26 on Monday. The stock has a market cap of $230.89 billion, a P/E ratio of 39.52, 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. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The company's 50-day simple moving average is $302.46 and its 200 day simple moving average is $311.80.

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 issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 0.70%. This is a boost from Salesforce's previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 10th. Salesforce's dividend payout ratio (DPR) is currently 26.10%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CRM shares. Stephens began coverage on shares of Salesforce in a research report on Wednesday, March 19th. They issued an "equal weight" rating and a $311.00 price objective for the company. KeyCorp raised shares of Salesforce from a "sector weight" rating to an "overweight" rating and set a $440.00 price target for the company in a report on Friday, December 13th. Needham & Company LLC restated a "buy" rating and set a $400.00 target price on shares of Salesforce in a research note on Thursday, February 27th. DA Davidson dropped their price target on shares of Salesforce from $300.00 to $275.00 and set a "neutral" rating for the company in a research note on Thursday, February 27th. Finally, Robert W. Baird cut their target price on shares of Salesforce from $430.00 to $400.00 and set an "outperform" rating on the stock in a research note on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $361.42.

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Insider Buying and Selling at Salesforce

In related news, Director Oscar Munoz acquired 3,882 shares of the firm's stock in a transaction that occurred on Thursday, April 3rd. The stock was acquired at an average cost of $257.28 per share, with a total value of $998,760.96. Following the completion of the purchase, the director now directly owns 11,843 shares in the company, valued at approximately $3,046,967.04. This trade represents a 48.76 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Sundeep G. Reddy sold 500 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $335.94, for a total transaction of $167,970.00. Following the completion of the sale, the chief accounting officer now owns 6,557 shares in the company, valued at approximately $2,202,758.58. This trade represents a 7.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,660 shares of company stock worth $14,095,336. 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.

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