Focus Partners Wealth Boosts Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Focus Partners Wealth grew its stake in shares of Salesforce, Inc. (NYSE:CRM) by 412.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 220,519 shares of the CRM provider’s stock after buying an additional 177,510 shares during the period. Focus Partners Wealth’s holdings in Salesforce were worth $74,124,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Bernard Wealth Management Corp. acquired a new stake in Salesforce during the fourth quarter worth about $25,000. Accredited Wealth Management LLC purchased a new stake in shares of Salesforce during the 4th quarter worth about $27,000. Arlington Trust Co LLC increased its position in 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 purchasing an additional 40 shares in the last quarter. Compass Financial Services Inc acquired a new position in Salesforce during the fourth quarter valued at approximately $30,000. Finally, Asset Planning Inc purchased a new stake in Salesforce during the fourth quarter worth approximately $31,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CRM. DA Davidson reissued an “underperform” rating and issued a $200.00 target price on shares of Salesforce in a research note on Monday, April 21st. Macquarie restated a “neutral” rating and set a $320.00 price objective on shares of Salesforce in a research note on Thursday, March 20th. Westpark Capital reiterated a “buy” rating and issued a $320.00 target price on shares of Salesforce in a research note on Wednesday, April 30th. Citigroup reissued a “buy” rating on shares of Salesforce in a research report on Wednesday, March 19th. Finally, Morgan Stanley lowered their price objective on shares of Salesforce from $405.00 to $393.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have given a buy rating and five have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and an average price target of $350.56.

Insider Buying and Selling

In other Salesforce news, CAO Sundeep G. Reddy sold 1,909 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $284.58, for a total value of $543,263.22. Following the completion of the sale, the chief accounting officer now directly owns 11,310 shares in the company, valued at $3,218,599.80. This represents a 14.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 approximately $9,141,957.90. This trade represents a 16.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 45,830 shares of company stock valued at $12,907,361 over the last 90 days. 3.20% of the stock is currently owned by company insiders.

Salesforce Stock Down 1.6 %

CRM opened at $275.38 on Friday. The stock’s 50 day moving average price is $267.33 and its 200 day moving average price is $307.06. 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 cap of $264.75 billion, a P/E ratio of 45.29, a P/E/G ratio of 2.58 and a beta of 1.42. 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 was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were paid a dividend of $0.42 per share. This is a boost from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date was Thursday, April 10th. Salesforce’s 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.