NFJ Investment Group LLC Has $16.70 Million Position in Salesforce, Inc. (NYSE:CRM)

NFJ Investment Group LLC boosted its holdings in Salesforce, Inc. (NYSE:CRM - Free Report) by 19.6% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 49,945 shares of the CRM provider's stock after buying an additional 8,186 shares during the period. NFJ Investment Group LLC's holdings in Salesforce were worth $16,698,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the stock. Geode Capital Management LLC boosted its position in shares of Salesforce by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 19,955,353 shares of the CRM provider's stock worth $6,656,078,000 after buying an additional 175,035 shares during the period. Fisher Asset Management LLC increased its holdings in shares of Salesforce by 1.4% during the 4th quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider's stock worth $4,163,703,000 after purchasing an additional 177,321 shares during the period. Norges Bank acquired a new stake in Salesforce during the fourth quarter worth $3,599,867,000. Invesco Ltd. boosted its stake 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 valued at $2,604,770,000 after purchasing an additional 2,325,156 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in Salesforce by 10.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 6,593,295 shares of the CRM provider's stock worth $2,204,336,000 after buying an additional 628,593 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company's stock.

Salesforce Price Performance

NYSE:CRM traded down $2.91 during mid-day trading on Friday, reaching $246.93. 5,564,231 shares of the stock were exchanged, compared to its average volume of 6,783,193. 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 business has a fifty day moving average price of $281.23 and a 200 day moving average price of $309.80. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The firm has a market capitalization of $237.30 billion, a PE ratio of 40.61, a PEG ratio of 2.58 and a beta of 1.38.

Salesforce Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 0.68%. This is a boost from Salesforce's previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 10th. Salesforce's payout ratio is presently 26.10%.

Insider Activity at Salesforce

In other Salesforce news, insider R David Schmaier sold 6,959 shares of the firm's stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total value of $1,762,784.29. Following the sale, the insider now owns 36,090 shares of the company's stock, valued at $9,141,957.90. This trade represents a 16.17 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Sundeep G. Reddy sold 436 shares of the business's stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $144,874.08. Following the sale, the chief accounting officer now owns 7,057 shares in the company, valued at approximately $2,344,899.96. This represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 47,654 shares of company stock valued at $14,124,094. Company insiders own 3.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CRM shares. Loop Capital decreased their price objective on shares of Salesforce from $330.00 to $300.00 and set a "hold" rating for the company in a report on Thursday, February 27th. Redburn Atlantic began coverage on Salesforce in a research report on Wednesday, February 19th. They issued a "buy" rating on the stock. Robert W. Baird decreased their price objective 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. Stephens started coverage on Salesforce in a research note on Wednesday, March 19th. They set an "equal weight" rating and a $311.00 price target on the stock. Finally, Stifel Nicolaus decreased their price target on Salesforce from $425.00 to $375.00 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 have given a buy rating and five have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $360.32.

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.