Zacks Investment Management Acquires 51,919 Shares of Salesforce, Inc. (NYSE:CRM)

Zacks Investment Management increased its position in Salesforce, Inc. (NYSE:CRM - Free Report) by 148.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 86,837 shares of the CRM provider's stock after buying an additional 51,919 shares during the period. Zacks Investment Management's holdings in Salesforce were worth $29,032,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CRM. Nvest Financial LLC raised its holdings in shares of Salesforce by 1.1% in the 4th quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider's stock worth $938,000 after acquiring an additional 31 shares during the last quarter. OMC Financial Services LTD lifted its holdings in shares of Salesforce by 0.3% in the fourth quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider's stock valued at $3,808,000 after purchasing an additional 31 shares in the last quarter. Capital Advisors Ltd. LLC boosted its position in shares of Salesforce by 4.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider's stock valued at $263,000 after buying an additional 31 shares during the last quarter. Sachetta LLC grew its holdings in Salesforce by 0.3% during the fourth quarter. Sachetta LLC now owns 11,018 shares of the CRM provider's stock worth $3,684,000 after buying an additional 32 shares in the last quarter. Finally, Prossimo Advisors LLC raised its position in Salesforce by 1.0% in the 4th quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider's stock valued at $1,125,000 after buying an additional 32 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company's stock.

Insider Buying and Selling

In related news, CFO Amy E. Weaver sold 897 shares of Salesforce stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $298,055.16. Following the transaction, the chief financial officer now owns 46,750 shares in the company, valued at $15,534,090. This trade represents a 1.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider R David Schmaier sold 6,959 shares of the company's stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total transaction of $1,762,784.29. Following the sale, the insider now owns 36,090 shares of the company's stock, valued at approximately $9,141,957.90. The trade was a 16.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,654 shares of company stock worth $14,124,094. Corporate insiders own 3.20% of the company's stock.

Salesforce Price Performance

Shares of CRM traded down $2.91 during trading hours on Friday, reaching $246.93. 5,564,231 shares of the company's stock traded hands, compared to its average volume of 6,783,193. The firm's 50 day simple moving average is $281.23 and its 200-day simple moving average is $309.60. The stock has a market cap 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 current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. 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 disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th will be given a dividend of $0.42 per share. The ex-dividend date is Thursday, April 10th. This represents a $1.68 annualized dividend and a dividend yield of 0.68%. This is a boost from Salesforce's previous quarterly dividend of $0.40. Salesforce's dividend payout ratio (DPR) is 26.10%.

Wall Street Analysts Forecast Growth

CRM has been the subject of several recent analyst reports. Morgan Stanley reduced their target price on shares of Salesforce from $405.00 to $393.00 and set an "overweight" rating for the company in a research note on Wednesday. Scotiabank decreased their price objective on shares of Salesforce from $400.00 to $345.00 and set a "sector outperform" rating for the company in a research note on Monday, March 17th. Oppenheimer cut their target price on Salesforce from $415.00 to $380.00 and set an "outperform" rating on the stock in a research note on Thursday, February 27th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Salesforce in a research report on Wednesday, March 19th. Finally, Redburn Atlantic began coverage on Salesforce in a research report on Wednesday, February 19th. They issued a "buy" rating on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty have assigned a buy rating and five have given a strong buy rating to the company's stock. According to MarketBeat, Salesforce presently has a consensus rating of "Moderate Buy" and a consensus target price of $360.32.

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.