Massachusetts Financial Services Co. MA Acquires 628,593 Shares of Salesforce, Inc. (NYSE:CRM)

Massachusetts Financial Services Co. MA boosted its holdings in Salesforce, Inc. (NYSE:CRM - Free Report) by 10.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,593,295 shares of the CRM provider's stock after purchasing an additional 628,593 shares during the quarter. Salesforce comprises approximately 0.7% of Massachusetts Financial Services Co. MA's portfolio, making the stock its 27th biggest position. Massachusetts Financial Services Co. MA owned approximately 0.69% of Salesforce worth $2,204,336,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. RFG Bristol Wealth Advisors LLC acquired a new stake in shares of Salesforce in the 4th quarter worth $716,000. Meeder Advisory Services Inc. raised its position in Salesforce by 7.7% during the fourth quarter. Meeder Advisory Services Inc. now owns 17,167 shares of the CRM provider's stock worth $5,739,000 after acquiring an additional 1,232 shares during the last quarter. OV Management LLC increased its stake in shares of Salesforce by 6.0% during the 4th quarter. OV Management LLC now owns 11,822 shares of the CRM provider's stock worth $3,952,000 after purchasing an additional 665 shares in the last quarter. May Hill Capital LLC acquired a new position in shares of Salesforce in the fourth quarter worth $389,000. Finally, Headlands Technologies LLC purchased a new position in Salesforce in the 4th quarter valued at about $11,305,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CRM has been the topic of several research reports. Jefferies Financial Group cut their target price on Salesforce from $425.00 to $375.00 and set a "buy" rating on the stock in a research report on Monday. Robert W. Baird cut their price objective on Salesforce from $430.00 to $400.00 and set an "outperform" rating on the stock in a research note on Thursday, February 27th. JPMorgan Chase & Co. lifted their price objective on shares of Salesforce from $340.00 to $380.00 and gave the stock an "overweight" rating in a report on Wednesday, December 4th. The Goldman Sachs Group boosted their price objective on Salesforce from $360.00 to $400.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th. Finally, JMP Securities reissued a "market outperform" rating and issued a $450.00 price objective on shares of Salesforce in a report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat.com, Salesforce has a consensus rating of "Moderate Buy" and an average target price of $361.42.

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Insider Buying and Selling

In other news, insider R David Schmaier sold 1,785 shares of the company's stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $288.34, for a total transaction of $514,686.90. Following the transaction, the insider now owns 29,190 shares in the company, valued at approximately $8,416,644.60. This represents a 5.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $277.37, for a total value of $1,725,518.77. Following the completion of the transaction, the chief financial officer now owns 46,750 shares in the company, valued at approximately $12,967,047.50. The trade was a 11.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 45,660 shares of company stock valued at $14,095,336 over the last 90 days. Company insiders own 3.20% of the company's stock.

Salesforce Trading Up 0.7 %

NYSE CRM traded up $1.86 during mid-day trading on Wednesday, reaching $272.06. 5,381,593 shares of the stock were exchanged, compared to its average volume of 6,656,096. 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 stock has a 50 day simple moving average of $305.91 and a 200-day simple moving average of $311.50. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The stock has a market cap of $261.45 billion, a P/E ratio of 44.75, a P/E/G ratio of 2.58 and a beta of 1.35.

Salesforce Increases Dividend

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