Meeder Advisory Services Inc. Raises Position in Salesforce, Inc. (NYSE:CRM)

Meeder Advisory Services Inc. grew its position in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 7.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,167 shares of the CRM provider's stock after purchasing an additional 1,232 shares during the quarter. Meeder Advisory Services Inc.'s holdings in Salesforce were worth $5,739,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Foundations Investment Advisors LLC increased its holdings in shares of Salesforce by 15.0% in the fourth quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider's stock worth $12,194,000 after buying an additional 4,752 shares during the period. Nabity Jensen Investment Management Inc bought a new position in Salesforce during the 3rd quarter worth approximately $1,215,000. Athena Investment Management purchased a new position in Salesforce in the 4th quarter worth approximately $236,000. Highland Capital Management LLC bought a new stake in Salesforce in the fourth quarter valued at approximately $4,321,000. Finally, Geode Capital Management LLC boosted its stake in shares of Salesforce by 1.3% during the third quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider's stock valued at $5,395,132,000 after purchasing an additional 257,501 shares during the period. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Stock Performance

Salesforce stock traded up $1.86 during mid-day trading on Wednesday, reaching $272.06. 5,381,593 shares of the stock traded hands, compared to its average volume of 6,656,096. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The business's 50-day moving average is $305.91 and its 200-day moving average is $311.50. 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 stock has a market capitalization of $261.45 billion, a PE ratio of 44.75, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35.

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Salesforce Increases Dividend

The business also recently announced 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 is a boost from Salesforce's previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend is Thursday, April 10th. Salesforce's dividend payout ratio (DPR) is currently 26.10%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Redburn Atlantic started coverage on shares of Salesforce in a report on Wednesday, February 19th. They set a "buy" rating for the company. Needham & Company LLC restated a "buy" rating and set a $400.00 price target on shares of Salesforce in a report on Thursday, February 27th. Northland Securities reiterated an "outperform" rating and issued a $440.00 price objective (up previously from $400.00) on shares of Salesforce in a report on Wednesday, December 4th. Bank of America cut their price objective on Salesforce from $440.00 to $400.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Finally, Guggenheim restated a "sell" rating and set a $247.00 target price on shares of Salesforce in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $361.42.

Insider Transactions at Salesforce

In other news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $329.88, for a total transaction of $2,052,183.48. Following the completion of the sale, the chief financial officer now directly owns 45,861 shares in the company, valued at approximately $15,128,626.68. The trade was a 11.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 transaction, 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 position. The disclosure for this sale can be found here. Insiders have sold 45,660 shares of company stock valued at $14,095,336 over the last quarter. 3.20% of the stock is currently owned by company 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.