Puzo Michael J Has $1.86 Million Stock Position in Salesforce, Inc. (NYSE:CRM)

Puzo Michael J grew its holdings in Salesforce, Inc. (NYSE:CRM - Free Report) by 643.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,576 shares of the CRM provider's stock after purchasing an additional 4,826 shares during the period. Puzo Michael J's holdings in Salesforce were worth $1,864,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. United Bank increased its position in shares of Salesforce by 1.1% in the third quarter. United Bank now owns 7,303 shares of the CRM provider's stock valued at $1,999,000 after acquiring an additional 76 shares during the last quarter. Royal London Asset Management Ltd. grew its stake in Salesforce by 40.0% in the third quarter. Royal London Asset Management Ltd. now owns 564,917 shares of the CRM provider's stock valued at $154,623,000 after purchasing an additional 161,373 shares in the last quarter. Quantinno Capital Management LP increased its position in shares of Salesforce by 22.3% during the 3rd quarter. Quantinno Capital Management LP now owns 85,853 shares of the CRM provider's stock worth $23,499,000 after purchasing an additional 15,675 shares during the last quarter. Stevens Capital Management LP bought a new stake in shares of Salesforce during the 3rd quarter worth approximately $5,654,000. Finally, State Street Corp boosted its holdings in shares of Salesforce by 1.8% in the 3rd quarter. State Street Corp now owns 49,007,404 shares of the CRM provider's stock valued at $13,432,855,000 after buying an additional 864,193 shares during the last quarter. Institutional investors own 80.43% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CRM shares. Bank of America lowered their target price on shares of Salesforce from $440.00 to $400.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. KeyCorp upgraded Salesforce from a "sector weight" rating to an "overweight" rating and set a $440.00 price target for the company in a report on Friday, December 13th. Redburn Atlantic initiated coverage on Salesforce in a research note on Wednesday, February 19th. They issued a "buy" rating on the stock. DA Davidson cut their price objective on Salesforce from $300.00 to $275.00 and set a "neutral" rating for the company in a research report on Thursday, February 27th. Finally, Scotiabank decreased their target price on Salesforce from $400.00 to $345.00 and set a "sector outperform" rating on the stock in a report on Monday, March 17th. 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 company. According to MarketBeat, Salesforce presently has an average rating of "Moderate Buy" and a consensus price target of $361.42.

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Salesforce Price Performance

CRM stock opened at $255.06 on Friday. The company has a market capitalization of $245.11 billion, a P/E ratio of 41.95, a PEG ratio of 2.58 and a beta of 1.38. The company has a fifty day moving average price of $304.32 and a 200-day moving average price of $311.11. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00.

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 issued 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 yield of 0.66%. Salesforce's payout ratio is presently 26.10%.

Insider Buying and Selling at Salesforce

In other news, insider R David Schmaier sold 1,785 shares of the company's stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $288.34, for a total value of $514,686.90. Following the sale, the insider now directly owns 29,190 shares of the company's stock, valued at approximately $8,416,644.60. This represents a 5.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Sundeep G. Reddy sold 436 shares of Salesforce stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $144,874.08. Following the transaction, the chief accounting officer now directly owns 7,057 shares of the company's stock, valued at $2,344,899.96. This represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 45,660 shares of company stock worth $14,095,336. Insiders own 3.20% of the company's stock.

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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