Salesforce, Inc. (NYSE:CRM) Holdings Lifted by Meeder Asset Management Inc.

Meeder Asset Management Inc. boosted its holdings in Salesforce, Inc. (NYSE:CRM - Free Report) by 192.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,951 shares of the CRM provider's stock after buying an additional 1,285 shares during the period. Meeder Asset Management Inc.'s holdings in Salesforce were worth $652,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Arlington Trust Co LLC grew its position in Salesforce by 85.1% during the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock valued at $29,000 after acquiring an additional 40 shares during the period. Compass Financial Services Inc purchased a new stake in shares of Salesforce during the 4th quarter worth about $30,000. Asset Planning Inc acquired a new stake in Salesforce during the 4th quarter worth approximately $31,000. Collier Financial purchased a new position in Salesforce in the fourth quarter valued at approximately $32,000. Finally, Halbert Hargrove Global Advisors LLC acquired a new position in Salesforce during the fourth quarter valued at approximately $35,000. Hedge funds and other institutional investors own 80.43% of the company's stock.

Insider Buying and Selling

In related news, insider R David Schmaier sold 1,785 shares of the stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $288.34, for a total value of $514,686.90. Following the completion of the transaction, the insider now owns 29,190 shares in the company, valued at $8,416,644.60. This represents a 5.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Sundeep G. Reddy sold 436 shares of the business's stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $144,874.08. Following the sale, the chief accounting officer now owns 7,057 shares in the company, valued at $2,344,899.96. This trade represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 45,660 shares of company stock valued at $14,095,336 in the last three months. 3.20% of the stock is currently owned by corporate insiders.

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Analysts Set New Price Targets

CRM has been the topic of a number of research reports. Macquarie reissued a "neutral" rating and issued a $320.00 target price on shares of Salesforce in a research note on Thursday, March 20th. Needham & Company LLC restated a "buy" rating and set a $400.00 price objective on shares of Salesforce in a research note on Thursday, February 27th. The Goldman Sachs Group increased their target price on Salesforce from $360.00 to $400.00 and gave the company a "buy" rating in a research note on Wednesday, December 4th. Scotiabank reduced their price target on Salesforce from $400.00 to $345.00 and set a "sector outperform" rating on the stock in a research report on Monday, March 17th. Finally, TD Cowen raised shares of Salesforce from a "hold" rating to a "buy" rating and increased their price objective for the company from $380.00 to $400.00 in a research report on Friday, January 17th. 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $361.42.

Salesforce Stock Performance

NYSE:CRM traded up $1.82 during mid-day trading on Tuesday, hitting $270.18. The stock had a trading volume of 4,596,911 shares, compared to its average volume of 6,653,506. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week 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 stock has a market capitalization of $259.64 billion, a price-to-earnings ratio of 44.44, a P/E/G ratio of 2.58 and a beta of 1.35. The company has a 50 day simple moving average of $307.13 and a 200-day simple moving average of $311.78.

Salesforce Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, April 10th. This is an increase from Salesforce's previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a dividend yield of 0.62%. Salesforce's payout ratio is currently 26.10%.

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.