Meeder Advisory Services Inc. Increases Stock Position in Salesforce, Inc. (NYSE:CRM)

Meeder Advisory Services Inc. increased its position in shares of Salesforce, Inc. (NYSE:CRM) by 7.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,167 shares of the CRM provider’s stock after buying an additional 1,232 shares during the period. Meeder Advisory Services Inc.’s holdings in Salesforce were worth $5,739,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in CRM. Nvest Financial LLC increased its stake in shares of Salesforce by 1.1% during the 4th quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock worth $938,000 after purchasing an additional 31 shares during the last quarter. OMC Financial Services LTD boosted its holdings in 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 in the last quarter. Capital Advisors Ltd. LLC increased its position in 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 buying an additional 31 shares during the last quarter. Sachetta LLC raised its holdings in 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 buying an additional 32 shares in the last quarter. Finally, Prossimo Advisors LLC lifted its position in shares of Salesforce by 1.0% in the fourth 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 last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insiders Place Their Bets

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $277.37, for a total value of $1,725,518.77. Following the sale, the chief financial officer now directly owns 46,750 shares in the company, valued at approximately $12,967,047.50. This trade represents a 11.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider R David Schmaier sold 1,785 shares of the business’s stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $288.34, for a total transaction of $514,686.90. Following the completion of the transaction, the insider now directly owns 29,190 shares of the company’s stock, valued at $8,416,644.60. This trade represents a 5.76 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 45,660 shares of company stock worth $14,095,336. Insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on CRM shares. TD Cowen raised Salesforce from a “hold” rating to a “buy” rating and raised their price objective for the company from $380.00 to $400.00 in a research note on Friday, January 17th. Citigroup reissued a “buy” rating on shares of Salesforce in a research report on Wednesday, March 19th. Redburn Atlantic initiated coverage on shares of Salesforce in a report on Wednesday, February 19th. They set a “buy” rating for the company. Bank of America dropped their target price on shares of Salesforce from $440.00 to $400.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Finally, Guggenheim restated a “sell” rating and set a $247.00 price target on shares of Salesforce in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the company’s stock. According to MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and an average price target of $361.42.

Salesforce Stock Performance

Shares of Salesforce stock opened at $270.18 on Wednesday. The firm has a fifty day moving average of $307.13 and a two-hundred day moving average of $311.78. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a market capitalization of $259.64 billion, a price-to-earnings ratio of 44.44, a PEG ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00.

Salesforce Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th will be paid a $0.42 dividend. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 10th. This represents a $1.68 annualized dividend and a yield of 0.62%. Salesforce’s dividend payout ratio 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.