Salesforce, Inc. (NYSE:CRM) Shares Acquired by Integrated Wealth Concepts LLC

Integrated Wealth Concepts LLC boosted its stake in Salesforce, Inc. (NYSE:CRM) by 12.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,159 shares of the CRM provider’s stock after acquiring an additional 2,379 shares during the period. Integrated Wealth Concepts LLC’s holdings in Salesforce were worth $7,074,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Invst LLC grew its position in shares of Salesforce by 4.2% in the 3rd quarter. Invst LLC now owns 17,003 shares of the CRM provider’s stock worth $4,654,000 after acquiring an additional 685 shares in the last quarter. Passumpsic Savings Bank lifted its stake in Salesforce by 1.2% during the third quarter. Passumpsic Savings Bank now owns 7,332 shares of the CRM provider’s stock worth $2,007,000 after purchasing an additional 87 shares during the last quarter. Anchor Investment Management LLC boosted its holdings in Salesforce by 15.7% in the third quarter. Anchor Investment Management LLC now owns 4,290 shares of the CRM provider’s stock worth $1,174,000 after purchasing an additional 581 shares during the period. Pine Valley Investments Ltd Liability Co increased its stake in Salesforce by 14.0% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 7,047 shares of the CRM provider’s stock valued at $1,930,000 after purchasing an additional 866 shares during the last quarter. Finally, World Investment Advisors LLC raised its holdings in shares of Salesforce by 570.4% during the third quarter. World Investment Advisors LLC now owns 54,446 shares of the CRM provider’s stock worth $14,903,000 after purchasing an additional 46,324 shares during the period. 80.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on CRM shares. Canaccord Genuity Group decreased their price target on shares of Salesforce from $415.00 to $400.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Citigroup restated a “buy” rating on shares of Salesforce in a research note on Wednesday, March 19th. Scotiabank dropped their price target on Salesforce from $400.00 to $345.00 and set a “sector outperform” rating on the stock in a research report on Monday, March 17th. Stephens initiated coverage on Salesforce in a research report on Wednesday, March 19th. They set an “equal weight” rating and a $311.00 price objective for the company. Finally, Oppenheimer dropped their target price on Salesforce from $415.00 to $380.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and an average price target of $351.37.

Insiders Place Their Bets

In other news, CAO Sundeep G. Reddy sold 500 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $335.94, for a total value of $167,970.00. Following the completion of the sale, the chief accounting officer now owns 6,557 shares in the company, valued at $2,202,758.58. This represents a 7.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider R David Schmaier sold 6,959 shares of Salesforce stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total value of $1,762,784.29. Following the transaction, the insider now owns 36,090 shares in the company, valued at $9,141,957.90. This represents a 16.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,051 shares of company stock worth $15,027,714 over the last ninety days. 3.20% of the stock is currently owned by company insiders.

Salesforce Stock Performance

Shares of NYSE CRM opened at $264.29 on Friday. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The stock has a market capitalization of $253.98 billion, a price-to-earnings ratio of 43.47, a PEG ratio of 2.58 and a beta of 1.38. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock’s fifty day simple moving average is $274.96 and its 200 day simple moving average is $308.44.

Salesforce Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Thursday, April 10th. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a yield of 0.64%. Salesforce’s dividend payout ratio is currently 26.10%.

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.