Public Employees Retirement Association of Colorado Sells 28,016 Shares of Salesforce, Inc. (NYSE:CRM)

Public Employees Retirement Association of Colorado trimmed its position in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 2.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,060,805 shares of the CRM provider's stock after selling 28,016 shares during the period. Salesforce comprises approximately 1.4% of Public Employees Retirement Association of Colorado's portfolio, making the stock its 12th biggest holding. Public Employees Retirement Association of Colorado owned about 0.11% of Salesforce worth $354,659,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC grew its stake in shares of Salesforce by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 19,955,353 shares of the CRM provider's stock valued at $6,656,078,000 after buying an additional 175,035 shares in the last quarter. Fisher Asset Management LLC grew its position in Salesforce by 1.4% in the fourth quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider's stock worth $4,163,703,000 after acquiring an additional 177,321 shares in the last quarter. Norges Bank acquired a new position in shares of Salesforce during the 4th quarter worth $3,599,867,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Salesforce by 23.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,938,536 shares of the CRM provider's stock valued at $2,988,422,000 after purchasing an additional 1,683,233 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in Salesforce by 42.5% in the fourth quarter. Invesco Ltd. now owns 7,791,015 shares of the CRM provider's stock worth $2,604,770,000 after purchasing an additional 2,325,156 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company's stock.

Insiders Place Their Bets

In other news, insider R David Schmaier sold 6,959 shares of the company's stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total transaction of $1,762,784.29. Following the transaction, the insider now owns 36,090 shares of the company's stock, valued at $9,141,957.90. This represents a 16.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Amy E. Weaver sold 6,221 shares of the business's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $335.94, for a total value of $2,089,882.74. Following the sale, the chief financial officer now directly owns 46,750 shares of the company's stock, valued at $15,705,195. This represents a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 52,051 shares of company stock valued at $15,027,714. Insiders own 3.20% of the company's stock.

Salesforce Price Performance

Shares of NYSE:CRM traded up $2.15 during midday trading on Tuesday, reaching $267.79. The company's stock had a trading volume of 3,139,350 shares, compared to its average volume of 6,814,865. The business's fifty day simple moving average is $272.58 and its 200-day simple moving average is $308.39. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The company has a market capitalization of $257.45 billion, a P/E ratio of 44.04, a P/E/G ratio of 2.58 and a beta of 1.38.

Salesforce Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend was Thursday, April 10th. This is a boost from Salesforce's previous quarterly dividend of $0.40. Salesforce's dividend payout ratio (DPR) is presently 26.10%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Macquarie restated a "neutral" rating and set a $320.00 target price on shares of Salesforce in a report on Thursday, March 20th. Stifel Nicolaus reduced their target price on Salesforce from $425.00 to $375.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Bank of America lowered their price target on Salesforce from $440.00 to $400.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Robert W. Baird reduced their price objective on shares of Salesforce from $430.00 to $400.00 and set an "outperform" rating for the company in a research note on Thursday, February 27th. Finally, Loop Capital lowered their target price on shares of Salesforce from $330.00 to $300.00 and set a "hold" rating on the stock in a research note on Thursday, February 27th. 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $351.37.

Salesforce 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.