Salesforce, Inc. (NYSE:CRM) Shares Acquired by Bank of Nova Scotia Trust Co.

Bank of Nova Scotia Trust Co. boosted its holdings in Salesforce, Inc. (NYSE:CRM - Free Report) by 4.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,690 shares of the CRM provider's stock after acquiring an additional 1,422 shares during the quarter. Bank of Nova Scotia Trust Co.'s holdings in Salesforce were worth $10,261,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. M&T Bank Corp increased its stake in Salesforce by 5.5% during the 3rd quarter. M&T Bank Corp now owns 193,314 shares of the CRM provider's stock valued at $52,912,000 after buying an additional 10,084 shares during the period. Invst LLC increased its stake in shares of Salesforce by 4.2% during the third quarter. Invst LLC now owns 17,003 shares of the CRM provider's stock valued at $4,654,000 after acquiring an additional 685 shares during the period. Passumpsic Savings Bank raised its holdings in Salesforce by 1.2% during the third quarter. Passumpsic Savings Bank now owns 7,332 shares of the CRM provider's stock worth $2,007,000 after purchasing an additional 87 shares in the last quarter. Anchor Investment Management LLC lifted its position in Salesforce by 15.7% in the third quarter. Anchor Investment Management LLC now owns 4,290 shares of the CRM provider's stock worth $1,174,000 after purchasing an additional 581 shares during the period. Finally, Pine Valley Investments Ltd Liability Co boosted its stake in Salesforce by 14.0% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 7,047 shares of the CRM provider's stock valued at $1,930,000 after purchasing an additional 866 shares in the last quarter. Institutional investors own 80.43% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. DA Davidson decreased their target price on Salesforce from $275.00 to $250.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Citigroup restated a "buy" rating on shares of Salesforce in a research report on Wednesday, March 19th. Morgan Stanley dropped their target price on shares of Salesforce from $405.00 to $393.00 and set an "overweight" rating on the stock in a report on Wednesday. Scotiabank reduced their target price on shares of Salesforce from $400.00 to $345.00 and set a "sector outperform" rating for the company in a report on Monday, March 17th. Finally, Stephens started coverage on Salesforce in a report on Wednesday, March 19th. They issued an "equal weight" rating and a $311.00 price target on the stock. 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 given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $360.32.

Insiders Place Their Bets

In other Salesforce news, CAO Sundeep G. Reddy sold 500 shares of Salesforce stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $335.94, for a total transaction of $167,970.00. Following the completion of the transaction, the chief accounting officer now directly owns 6,557 shares of the company's stock, valued at approximately $2,202,758.58. This trade represents a 7.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Parker Harris sold 652 shares of the business's stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $216,646.56. Following the completion of the sale, the insider now owns 121,467 shares in the company, valued at $40,361,054.76. This represents a 0.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,654 shares of company stock worth $14,124,094 over the last quarter. Company insiders own 3.20% of the company's stock.

Salesforce Trading Down 1.2 %

Shares of Salesforce stock opened at $246.93 on Friday. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The firm has a market capitalization of $237.30 billion, a PE ratio of 40.61, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. 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 company's fifty day moving average price is $281.23 and its two-hundred day moving average price is $309.39.

Salesforce Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 10th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 0.68%. The ex-dividend date is Thursday, April 10th. This is a positive change from Salesforce's previous quarterly dividend of $0.40. Salesforce's dividend payout ratio is 26.10%.

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.

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