Nemes Rush Group LLC Raises Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Nemes Rush Group LLC increased its stake in shares of Salesforce, Inc. (NYSE:CRM) by 7.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,411 shares of the CRM provider’s stock after purchasing an additional 2,478 shares during the quarter. Salesforce makes up approximately 1.5% of Nemes Rush Group LLC’s holdings, making the stock its 21st largest holding. Nemes Rush Group LLC’s holdings in Salesforce were worth $12,173,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Nvest Financial LLC grew its holdings in Salesforce by 1.1% in the 4th quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock worth $938,000 after buying an additional 31 shares in the last quarter. OMC Financial Services LTD boosted its position in Salesforce by 0.3% during the 4th quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock worth $3,808,000 after acquiring an additional 31 shares during the period. Capital Advisors Ltd. LLC grew its stake in shares of Salesforce by 4.1% in 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 in the last quarter. Sachetta LLC increased its holdings in shares of Salesforce by 0.3% during the fourth quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock valued at $3,684,000 after purchasing an additional 32 shares during the period. Finally, Prossimo Advisors LLC raised its stake in shares of Salesforce by 1.0% during the fourth quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock valued at $1,125,000 after purchasing an additional 32 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CRM. Scotiabank reduced their price target on shares of Salesforce from $400.00 to $345.00 and set a “sector outperform” rating for the company in a research note on Monday, March 17th. Bank of America cut their target price on Salesforce from $440.00 to $400.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Oppenheimer lowered their price target on Salesforce from $415.00 to $380.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. Stephens started coverage on Salesforce in a report on Wednesday, March 19th. They issued an “equal weight” rating and a $311.00 price objective for the company. Finally, Citigroup reaffirmed a “buy” rating on shares of Salesforce in a report on Wednesday, March 19th. One investment 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 assigned a strong buy rating to the stock. According to MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and a consensus price target of $361.42.

Insider Activity

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $329.88, for a total value of $2,052,183.48. Following the completion of the sale, the chief financial officer now owns 45,861 shares in the company, valued at approximately $15,128,626.68. This trade represents a 11.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Brian Millham sold 3,937 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 transaction of $1,120,391.46. Following the transaction, the chief executive officer now owns 5,518 shares in the company, valued at $1,570,312.44. The trade was a 41.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 45,660 shares of company stock worth $14,095,336. 3.20% of the stock is owned by corporate insiders.

Salesforce Stock Down 0.7 %

Shares of CRM opened at $268.05 on Tuesday. The business’s 50 day simple moving average is $308.26 and its 200-day simple moving average is $311.67. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The company has a market capitalization of $257.60 billion, a P/E ratio of 44.09, a PEG ratio of 2.58 and a beta of 1.35. 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 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 0.63%. The ex-dividend date of this dividend is Thursday, April 10th. This is a boost from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s dividend payout ratio is presently 26.10%.

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.