Brown Brothers Harriman & Co. Decreases Stake in Salesforce, Inc. (NYSE:CRM)

Brown Brothers Harriman & Co. lessened its stake in shares of Salesforce, Inc. (NYSE:CRM) by 3.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 19,128 shares of the CRM provider’s stock after selling 774 shares during the period. Brown Brothers Harriman & Co.’s holdings in Salesforce were worth $6,395,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Nvest Financial LLC increased its position 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 valued at $938,000 after acquiring an additional 31 shares during the period. OMC Financial Services LTD raised its stake 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 worth $3,808,000 after purchasing an additional 31 shares during the last quarter. Capital Advisors Ltd. LLC lifted its holdings 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 worth $263,000 after purchasing an additional 31 shares during the period. Sachetta LLC boosted its position in Salesforce by 0.3% in the fourth quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock valued at $3,684,000 after buying an additional 32 shares during the last quarter. Finally, Prossimo Advisors LLC increased its holdings in Salesforce by 1.0% in the 4th quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock worth $1,125,000 after buying an additional 32 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on CRM shares. BMO Capital Markets restated an “outperform” rating on shares of Salesforce in a research note on Wednesday, March 19th. Jefferies Financial Group upped their price objective on Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Morgan Stanley lifted their target price on shares of Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Royal Bank of Canada lifted their price target on Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Finally, Oppenheimer reduced their target price on Salesforce from $415.00 to $380.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $362.74.

Insider Activity at Salesforce

In other news, insider R David Schmaier sold 1,785 shares of Salesforce stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $288.34, for a total value of $514,686.90. Following the completion of the sale, the insider now directly owns 29,190 shares of the company’s stock, valued at approximately $8,416,644.60. The trade was a 5.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Sundeep G. Reddy sold 436 shares of the stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $144,874.08. Following the transaction, the chief accounting officer now directly owns 7,057 shares in the company, valued at approximately $2,344,899.96. The trade was a 5.82 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,660 shares of company stock worth $14,095,336. Insiders own 3.20% of the company’s stock.

Salesforce Stock Down 2.8 %

Shares of CRM opened at $270.04 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm has a market cap of $259.51 billion, a P/E ratio of 44.42, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. The company’s 50-day moving average price is $309.39 and its 200 day moving average price is $311.13. 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. Investors 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 dividend on an annualized basis and a dividend yield of 0.62%. This is a boost from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s dividend payout ratio (DPR) is presently 26.10%.

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.