Voya Investment Management LLC Has $1.18 Billion Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Voya Investment Management LLC increased its position in Salesforce, Inc. (NYSE:CRM - Free Report) by 56.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,527,095 shares of the CRM provider's stock after purchasing an additional 1,267,669 shares during the quarter. Salesforce makes up 1.2% of Voya Investment Management LLC's portfolio, making the stock its 11th largest holding. Voya Investment Management LLC owned approximately 0.37% of Salesforce worth $1,179,150,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Bernard Wealth Management Corp. acquired a new position in Salesforce in the fourth quarter worth about $25,000. Arlington Trust Co LLC lifted its position in shares of Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock worth $29,000 after buying an additional 40 shares during the period. Compass Financial Services Inc bought a new stake in Salesforce in the fourth quarter valued at $30,000. Asset Planning Inc acquired a new position in Salesforce during the fourth quarter worth $31,000. Finally, Collier Financial bought a new position in shares of Salesforce during the fourth quarter valued at $32,000. Institutional investors own 80.43% of the company's stock.

Insider Buying and Selling

In other news, CAO Sundeep G. Reddy sold 1,256 shares of the business's stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total transaction of $318,157.36. Following the completion of the transaction, the chief accounting officer now owns 12,826 shares of the company's stock, valued at approximately $3,248,954.06. The trade was a 8.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Miguel Milano sold 458 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $307.97, for a total transaction of $141,050.26. Following the completion of the transaction, the insider now directly owns 5,864 shares in the company, valued at $1,805,936.08. The trade was a 7.24 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,961 shares of company stock valued at $13,229,264. Company insiders own 3.20% of the company's stock.

Salesforce Stock Up 2.9 %

CRM opened at $250.57 on Thursday. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The company has a 50 day moving average of $276.19 and a 200 day moving average of $308.58. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The company has a market cap of $240.79 billion, a PE ratio of 41.21, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38.

Salesforce Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 10th will be paid 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 yield of 0.67%. This is a boost from Salesforce's previous quarterly dividend of $0.40. Salesforce's payout ratio is currently 26.10%.

Analyst Upgrades and Downgrades

CRM has been the subject of a number of recent analyst reports. Wells Fargo & Company dropped their target price on shares of Salesforce from $310.00 to $255.00 and set an "equal weight" rating for the company in a research report on Tuesday. Piper Sandler reduced their price objective on Salesforce from $400.00 to $315.00 and set an "overweight" rating on the stock in a research note on Wednesday. Needham & Company LLC restated a "buy" rating and issued a $400.00 price objective on shares of Salesforce in a research report on Thursday, February 27th. Stifel Nicolaus decreased their price target on shares of Salesforce from $425.00 to $375.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Finally, Guggenheim upgraded shares of Salesforce from a "sell" rating to a "neutral" rating in a research report on Monday. One 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 given a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $355.19.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.