Kidder Stephen W Buys New Position in Salesforce, Inc. (NYSE:CRM)

Kidder Stephen W purchased a new position in Salesforce, Inc. (NYSE:CRM - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 3,928 shares of the CRM provider's stock, valued at approximately $1,313,000.

Other large investors also recently modified their holdings of the company. Leeward Financial Partners LLC bought a new position in Salesforce during the fourth quarter worth $223,000. Somerville Kurt F bought a new position in shares of Salesforce during the 4th quarter worth about $2,859,000. Puzo Michael J raised its position in shares of Salesforce by 643.5% during the fourth quarter. Puzo Michael J now owns 5,576 shares of the CRM provider's stock valued at $1,864,000 after buying an additional 4,826 shares during the last quarter. Smith Moore & CO. lifted its stake in shares of Salesforce by 10.8% in the fourth quarter. Smith Moore & CO. now owns 1,627 shares of the CRM provider's stock valued at $544,000 after buying an additional 159 shares during the period. Finally, Broderick Brian C acquired a new stake in Salesforce during the fourth quarter worth about $2,261,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Stock Performance

Shares of Salesforce stock opened at $255.06 on Friday. The company has a 50 day moving average of $304.32 and a 200-day moving average of $311.11. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year 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. The company has a market cap of $245.11 billion, a PE ratio of 41.95, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38.

Salesforce Increases Dividend

The business also recently announced 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. The ex-dividend date is Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a yield of 0.66%. This is a positive change from Salesforce's previous quarterly dividend of $0.40. Salesforce's dividend payout ratio (DPR) is currently 26.10%.

Analyst Ratings Changes

CRM has been the topic of a number of research reports. Stifel Nicolaus lowered their price objective on Salesforce from $425.00 to $375.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. JMP Securities reissued a "market outperform" rating and issued a $450.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. DA Davidson cut 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. KeyCorp upgraded Salesforce from a "sector weight" rating to an "overweight" rating and set a $440.00 price objective on the stock in a research note on Friday, December 13th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $425.00 price target on shares of Salesforce in a research note on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $361.42.

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Insiders Place Their Bets

In other news, CFO Amy E. Weaver sold 6,221 shares of the business's stock in a transaction that occurred 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 owns 45,861 shares in the company, valued at approximately $15,128,626.68. The trade was a 11.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider R David Schmaier sold 1,785 shares of the stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $288.34, for a total transaction of $514,686.90. Following the sale, the insider now owns 29,190 shares of the company's stock, valued at approximately $8,416,644.60. This trade represents a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 45,660 shares of company stock valued at $14,095,336. 3.20% of the stock is currently owned by insiders.

Salesforce Company 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.

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