Salesforce, Inc. (NYSE:CRM) Shares Purchased by Investment Management Corp of Ontario

Investment Management Corp of Ontario grew its position in shares of Salesforce, Inc. (NYSE:CRM) by 6.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 48,238 shares of the CRM provider’s stock after purchasing an additional 2,890 shares during the quarter. Salesforce accounts for about 0.5% of Investment Management Corp of Ontario’s holdings, making the stock its 28th biggest holding. Investment Management Corp of Ontario’s holdings in Salesforce were worth $16,127,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of CRM. Foundations Investment Advisors LLC boosted 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 worth $12,194,000 after buying an additional 4,752 shares during the period. Athena Investment Management acquired a new position in Salesforce during the 4th quarter worth $236,000. Highland Capital Management LLC bought a new position in shares of Salesforce in the fourth quarter worth $4,321,000. Jag Capital Management LLC increased its holdings in shares of 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 shares of Salesforce during the fourth quarter valued at about $2,861,000. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Down 1.6 %

CRM opened at $275.38 on Friday. The company has a market capitalization of $264.75 billion, a PE ratio of 45.29, 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 current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The business has a 50-day moving average of $267.33 and a 200-day moving average of $307.22.

Salesforce Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 0.61%. 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. Salesforce’s dividend payout ratio (DPR) is presently 26.10%.

Insiders Place Their Bets

In other Salesforce news, CAO Sundeep G. Reddy sold 500 shares of the stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $275.00, for a total transaction of $137,500.00. Following the transaction, the chief accounting officer now directly owns 11,711 shares of the company’s stock, valued at $3,220,525. This represents a 4.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider R David Schmaier sold 6,959 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 value of $1,762,784.29. Following the completion of the sale, the insider now directly owns 36,090 shares of the company’s stock, 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 45,830 shares of company stock valued at $12,907,361 over the last ninety days. Corporate insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. BMO Capital Markets reiterated an “outperform” rating on shares of Salesforce in a research report on Wednesday, March 19th. Needham & Company LLC reiterated a “buy” rating and set a $400.00 price objective on shares of Salesforce in a research note on Friday, April 25th. Westpark Capital reaffirmed a “buy” rating and set a $320.00 price target on shares of Salesforce in a research note on Wednesday, April 30th. Morgan Stanley cut their price objective on Salesforce from $405.00 to $393.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Finally, Cantor Fitzgerald initiated coverage on Salesforce in a report on Wednesday, April 23rd. They set an “overweight” rating and a $210.00 target price on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have assigned a buy rating and five have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $350.56.

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.