Envestnet Asset Management Inc. Buys 94,229 Shares of Salesforce, Inc. (NYSE:CRM)

Envestnet Asset Management Inc. boosted its position in Salesforce, Inc. (NYSE:CRM) by 6.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,493,493 shares of the CRM provider’s stock after acquiring an additional 94,229 shares during the quarter. Envestnet Asset Management Inc. owned 0.16% of Salesforce worth $499,320,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Arlington Trust Co LLC raised its holdings in shares of Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after buying an additional 40 shares in the last quarter. Compass Financial Services Inc purchased a new position in shares of Salesforce during the fourth quarter worth approximately $30,000. Asset Planning Inc bought a new stake in shares of Salesforce in the 4th quarter worth approximately $31,000. Collier Financial bought a new stake in shares of Salesforce in the 4th quarter worth approximately $32,000. Finally, Halbert Hargrove Global Advisors LLC bought a new position in shares of Salesforce during the 4th quarter valued at $35,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Stock Performance

Shares of CRM stock opened at $240.26 on Friday. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. 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 company has a 50 day moving average price of $302.46 and a 200-day moving average price of $311.00. The firm has a market capitalization of $230.89 billion, a PE ratio of 39.52, a P/E/G ratio of 2.58 and a beta of 1.38.

Salesforce Increases Dividend

The company also recently declared 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 0.70%. This is a boost from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 10th. Salesforce’s dividend payout ratio is presently 26.10%.

Wall Street Analysts Forecast Growth

Several analysts have 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 for the company in a research note on Thursday, February 27th. Needham & Company LLC reissued a “buy” rating and issued a $400.00 target price on shares of Salesforce in a research note on Thursday, February 27th. Scotiabank reduced their price target on Salesforce from $400.00 to $345.00 and set a “sector outperform” rating on the stock in a research report on Monday, March 17th. Citigroup reiterated a “buy” rating on shares of Salesforce in a research report on Wednesday, March 19th. Finally, JMP Securities restated a “market outperform” rating and issued a $450.00 target price on shares of Salesforce in a report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $361.42.

Insider Transactions at Salesforce

In other Salesforce news, Director Oscar Munoz acquired 3,882 shares of the company’s stock in a transaction that occurred on Thursday, April 3rd. The shares were bought at an average price of $257.28 per share, with a total value of $998,760.96. Following the completion of the acquisition, the director now owns 11,843 shares in the company, valued at $3,046,967.04. This represents a 48.76 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Sundeep G. Reddy sold 436 shares of the company’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $144,874.08. Following the sale, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at approximately $2,344,899.96. This represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 45,660 shares of company stock worth $14,095,336 in the last ninety days. Insiders own 3.20% of the company’s stock.

Salesforce Company 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.