Quadrant Capital Group LLC Boosts Holdings in Salesforce, Inc. (NYSE:CRM)

Quadrant Capital Group LLC raised its position in Salesforce, Inc. (NYSE:CRM) by 2.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 7,785 shares of the CRM provider’s stock after acquiring an additional 167 shares during the period. Quadrant Capital Group LLC’s holdings in Salesforce were worth $2,603,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new stake in Salesforce in the 4th quarter valued at approximately $3,599,867,000. Raymond James Financial Inc. purchased a new stake in shares of Salesforce in the fourth quarter valued at approximately $1,173,564,000. Jennison Associates LLC grew its holdings in Salesforce by 52.7% during the fourth quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider’s stock worth $1,482,347,000 after acquiring an additional 1,530,572 shares during the period. Swedbank AB raised its position in Salesforce by 46.7% in the fourth quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider’s stock worth $1,280,408,000 after acquiring an additional 1,219,254 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in Salesforce by 27.4% in the fourth quarter. Franklin Resources Inc. now owns 5,598,423 shares of the CRM provider’s stock valued at $1,871,721,000 after acquiring an additional 1,204,355 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 436 shares of the business’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $144,874.08. Following the transaction, the chief accounting officer now owns 7,057 shares in the company, valued at $2,344,899.96. The trade was a 5.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 45,861 shares of the company’s stock, valued at approximately $15,128,626.68. This trade represents a 11.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 45,660 shares of company stock valued at $14,095,336 over the last quarter. Company insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Stifel Nicolaus lowered their price target on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. BMO Capital Markets restated an “outperform” rating on shares of Salesforce in a research report on Wednesday, March 19th. Macquarie reiterated a “neutral” rating and set a $320.00 price target on shares of Salesforce in a research report on Thursday, March 20th. Piper Sandler restated an “overweight” rating on shares of Salesforce in a report on Wednesday, March 19th. Finally, Scotiabank reduced their price objective on Salesforce from $400.00 to $345.00 and set a “sector outperform” rating for the company in a report on Monday, March 17th. One 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $361.42.

Salesforce Stock Performance

NYSE:CRM opened at $240.26 on Friday. The firm’s fifty day simple moving average is $302.46 and its 200 day simple moving average is $311.39. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The firm has a market capitalization of $230.89 billion, a price-to-earnings ratio of 39.52, a PEG ratio of 2.58 and a beta of 1.38.

Salesforce Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date is Thursday, April 10th. This is a boost from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s payout ratio is currently 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.