Scotia Capital Inc. Buys 18,525 Shares of Salesforce, Inc. (NYSE:CRM)

Scotia Capital Inc. increased its stake in Salesforce, Inc. (NYSE:CRM - Free Report) by 12.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 166,795 shares of the CRM provider's stock after acquiring an additional 18,525 shares during the period. Scotia Capital Inc.'s holdings in Salesforce were worth $55,768,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC increased its position in Salesforce by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 19,955,353 shares of the CRM provider's stock worth $6,656,078,000 after purchasing an additional 175,035 shares in the last quarter. Fisher Asset Management LLC increased its holdings in Salesforce by 1.4% in the 4th quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider's stock valued at $4,163,703,000 after purchasing an additional 177,321 shares in the last quarter. Norges Bank purchased a new position in Salesforce in the fourth quarter valued at about $3,599,867,000. Invesco Ltd. lifted its stake in shares of Salesforce by 42.5% during 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. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of 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 valued at $2,204,336,000 after buying an additional 628,593 shares during the period. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Insider Activity at Salesforce

In related news, insider Parker Harris sold 652 shares of the firm'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 $216,646.56. Following the sale, the insider now owns 121,467 shares in the company, valued at approximately $40,361,054.76. This trade represents a 0.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $329.88, for a total value of $2,052,183.48. Following the transaction, the chief financial officer now directly owns 45,861 shares in the company, valued at $15,128,626.68. The trade was a 11.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,660 shares of company stock valued at $14,095,336. 3.20% of the stock is owned by corporate insiders.

Salesforce Stock Down 0.3 %

NYSE CRM traded down $0.79 during trading hours on Monday, reaching $254.21. 2,232,284 shares of the company's stock traded hands, compared to its average volume of 6,806,232. 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 firm has a 50-day simple moving average of $289.29 and a 200 day simple moving average of $310.70. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The firm has a market cap of $244.30 billion, a PE ratio of 41.81, a PEG ratio of 2.58 and a beta of 1.38.

Salesforce Increases Dividend

The company 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 dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $1.68 annualized dividend and a dividend yield of 0.66%. This is an increase from Salesforce's previous quarterly dividend of $0.40. Salesforce's dividend payout ratio (DPR) is 26.10%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CRM shares. Robert W. Baird lowered their price target on shares of Salesforce from $430.00 to $400.00 and set an "outperform" rating for the company in a report on Thursday, February 27th. Citigroup reiterated a "buy" rating on shares of Salesforce in a research note on Wednesday, March 19th. Needham & Company LLC restated a "buy" rating and set a $400.00 price objective on shares of Salesforce in a research note on Thursday, February 27th. Bank of America reduced their target price on Salesforce from $440.00 to $400.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Finally, Canaccord Genuity Group cut their price target on shares of Salesforce from $415.00 to $400.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $361.42.

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.