Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. Invests $23.54 Million in Salesforce, Inc. (NYSE:CRM)

Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. purchased a new stake in shares of Salesforce, Inc. (NYSE:CRM) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 70,395 shares of the CRM provider’s stock, valued at approximately $23,535,000. Salesforce accounts for approximately 2.8% of Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A.’s portfolio, making the stock its 14th largest position.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CRM. Foundations Investment Advisors LLC increased its position in shares of Salesforce by 15.0% during the fourth quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock valued at $12,194,000 after acquiring an additional 4,752 shares in the last quarter. Athena Investment Management purchased a new position in shares of Salesforce during the fourth quarter valued at approximately $236,000. Highland Capital Management LLC bought a new position in Salesforce during the fourth quarter valued at approximately $4,321,000. Jag Capital Management LLC lifted its position in Salesforce by 2,507.9% during the fourth quarter. Jag Capital Management LLC now owns 23,706 shares of the CRM provider’s stock valued at $7,926,000 after purchasing an additional 22,797 shares during the period. Finally, Lecap Asset Management Ltd. bought a new stake in Salesforce in the 4th quarter worth approximately $2,861,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Trading Down 1.4%

Salesforce stock opened at $287.03 on Tuesday. The firm’s 50 day moving average price is $268.15 and its two-hundred day moving average price is $307.16. The firm has a market cap of $275.95 billion, a price-to-earnings ratio of 47.21, a price-to-earnings-growth ratio of 2.58 and a beta of 1.42. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00.

Salesforce Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.59%. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date was Thursday, April 10th. Salesforce’s dividend payout ratio is 26.10%.

Wall Street Analysts Forecast Growth

CRM has been the topic of a number of recent research reports. Stephens assumed coverage on Salesforce in a report on Wednesday, March 19th. They issued an “equal weight” rating and a $311.00 target price on the stock. Canaccord Genuity Group decreased their target price on shares of Salesforce from $415.00 to $400.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. DA Davidson reaffirmed an “underperform” rating and set a $200.00 price target on shares of Salesforce in a research note on Monday, April 21st. BMO Capital Markets reiterated an “outperform” rating on shares of Salesforce in a research note on Wednesday, March 19th. Finally, Westpark Capital reiterated a “buy” rating and set a $320.00 price objective on shares of Salesforce in a report on Wednesday, April 30th. One 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, the company currently has an average rating of “Moderate Buy” and an average price target of $352.62.

Insider Activity at Salesforce

In related news, insider Miguel Milano sold 458 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $307.97, for a total value of $141,050.26. Following the completion of the sale, the insider now owns 5,864 shares in the company, valued at approximately $1,805,936.08. This trade represents a 7.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Sundeep G. Reddy sold 1,909 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $284.58, for a total transaction of $543,263.22. Following the completion of the transaction, the chief accounting officer now owns 11,310 shares of the company’s stock, valued at approximately $3,218,599.80. This represents a 14.44% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,306 shares of company stock valued at $12,841,368. Corporate insiders own 3.20% of the company’s stock.

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.