Trajan Wealth LLC Buys 2,634 Shares of Salesforce, Inc. (NYSE:CRM)

Trajan Wealth LLC grew 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 SEC. The fund owned 55,898 shares of the CRM provider's stock after purchasing an additional 2,634 shares during the period. Salesforce makes up about 1.0% of Trajan Wealth LLC's portfolio, making the stock its 28th biggest position. Trajan Wealth LLC's holdings in Salesforce were worth $18,688,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. 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 boosted its holdings in shares of Salesforce by 1.4% during 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 acquiring an additional 177,321 shares in the last quarter. Norges Bank bought a new stake in Salesforce during the 4th quarter worth $3,599,867,000. Invesco Ltd. increased its holdings in Salesforce by 42.5% in the 4th 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 position in Salesforce by 10.5% in the fourth 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 purchasing an additional 628,593 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company's stock.

Wall Street Analysts Forecast Growth

CRM has been the topic of several research reports. Wells Fargo & Company reduced their price target on Salesforce from $310.00 to $255.00 and set an "equal weight" rating on the stock in a report on Tuesday. Jefferies Financial Group decreased their price target on shares of Salesforce from $425.00 to $375.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Guggenheim upgraded shares of Salesforce from a "sell" rating to a "neutral" rating in a report on Monday. Morgan Stanley decreased their price objective on Salesforce from $405.00 to $393.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Finally, Stifel Nicolaus cut their target price on Salesforce from $425.00 to $375.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. One 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 assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $355.19.

Insider Transactions at Salesforce

In other news, CEO Brian Millham sold 3,937 shares of Salesforce stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $284.58, for a total value of $1,120,391.46. Following the completion of the transaction, the chief executive officer now owns 5,518 shares in the company, valued at $1,570,312.44. This trade represents a 41.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $335.94, for a total transaction of $2,089,882.74. Following the completion of the sale, the chief financial officer now directly owns 46,750 shares in the company, valued at approximately $15,705,195. This trade represents a 11.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 44,961 shares of company stock worth $13,229,264 in the last quarter. Insiders own 3.20% of the company's stock.

Salesforce Stock Performance

Shares of Salesforce stock traded up $13.39 during trading hours on Thursday, hitting $263.87. 4,117,365 shares of the company's stock traded hands, compared to its average volume of 7,030,512. The company has a fifty day simple moving average of $276.19 and a 200-day simple moving average of $308.58. 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 market capitalization of $253.58 billion, a price-to-earnings ratio of 43.45, a PEG ratio of 2.58 and a beta of 1.38. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month 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 paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 0.64%. This is a boost from Salesforce's previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 10th. Salesforce's 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.