Salesforce, Inc. (NYSE:CRM) Shares Purchased by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA boosted its holdings in Salesforce, Inc. (NYSE:CRM) by 10.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,593,295 shares of the CRM provider’s stock after buying an additional 628,593 shares during the quarter. Salesforce accounts for about 0.7% of Massachusetts Financial Services Co. MA’s investment portfolio, making the stock its 27th largest position. Massachusetts Financial Services Co. MA owned approximately 0.69% of Salesforce worth $2,204,336,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Foundations Investment Advisors LLC raised its holdings 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 valued at $12,194,000 after acquiring an additional 4,752 shares during the period. Nabity Jensen Investment Management Inc purchased a new position in Salesforce during the 3rd quarter worth approximately $1,215,000. Athena Investment Management acquired a new stake in Salesforce during the 4th quarter valued at $236,000. Highland Capital Management LLC purchased a new stake in shares of Salesforce in the fourth quarter valued at $4,321,000. Finally, Geode Capital Management LLC boosted its position in shares of Salesforce by 1.3% in the third quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock worth $5,395,132,000 after buying an additional 257,501 shares during the period. Institutional investors own 80.43% of the company’s stock.

Salesforce Trading Up 0.7 %

Shares of CRM opened at $270.18 on Wednesday. The stock’s 50-day moving average price is $307.13 and its 200 day moving average price is $311.78. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $259.64 billion, a price-to-earnings ratio of 44.44, a P/E/G ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00.

Salesforce Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders 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 is a boost from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.62%. Salesforce’s payout ratio is currently 26.10%.

Insider Activity at Salesforce

In other news, insider R David Schmaier sold 1,785 shares of the company’s stock in a transaction that occurred 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 sale, the insider now directly owns 29,190 shares in the company, valued at approximately $8,416,644.60. This represents a 5.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $277.37, for a total value of $1,725,518.77. Following the transaction, the chief financial officer now owns 46,750 shares of the company’s stock, valued at $12,967,047.50. This trade represents a 11.74 % decrease in their position. 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.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CRM. KeyCorp raised Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price objective for the company in a research note on Friday, December 13th. 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 report on Monday, March 17th. Macquarie reaffirmed a “neutral” rating and set a $320.00 price objective on shares of Salesforce in a research report on Thursday, March 20th. JMP Securities reiterated a “market outperform” rating and issued a $450.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. Finally, Needham & Company LLC reissued a “buy” rating and set a $400.00 target price on shares of Salesforce in a research note on Thursday, February 27th. One investment 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $361.42.

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.