Nomura Asset Management Co. Ltd. Boosts Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Nomura Asset Management Co. Ltd. lifted its stake in Salesforce, Inc. (NYSE:CRM) by 10.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 564,783 shares of the CRM provider’s stock after acquiring an additional 55,424 shares during the period. Salesforce makes up about 0.6% of Nomura Asset Management Co. Ltd.’s holdings, making the stock its 26th largest holding. Nomura Asset Management Co. Ltd. owned 0.06% of Salesforce worth $188,824,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of CRM. Infrastructure Capital Advisors LLC purchased a new position in shares of Salesforce during the 3rd quarter valued at about $27,000. Arlington Trust Co LLC boosted its stake in shares of Salesforce by 85.1% in the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after purchasing an additional 40 shares in the last quarter. Compass Financial Services Inc bought a new position in shares of Salesforce during the 4th quarter valued at $30,000. Asset Planning Inc purchased a new stake in Salesforce during the 4th quarter valued at about $31,000. Finally, Collier Financial bought a new position in Salesforce during the 4th quarter worth approximately $32,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on CRM. The Goldman Sachs Group increased their price objective on Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Robert W. Baird lowered their price objective on shares of Salesforce from $430.00 to $400.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. Wells Fargo & Company cut their target price on Salesforce from $345.00 to $310.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 27th. JMP Securities reiterated a “market outperform” rating and issued a $450.00 price objective on shares of Salesforce in a research report on Wednesday, December 18th. Finally, Redburn Atlantic began coverage on Salesforce in a research note on Wednesday, February 19th. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and an average price target of $362.74.

Salesforce Trading Down 1.1 %

Shares of NYSE:CRM opened at $277.88 on Friday. 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 12-month low of $212.00 and a 12-month high of $369.00. The company has a market cap of $267.04 billion, a PE ratio of 45.70, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. The stock has a 50 day moving average of $310.49 and a 200 day moving average of $310.51.

Salesforce Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th will be issued a dividend of $0.42 per share. 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 yield of 0.60%. Salesforce’s dividend payout ratio (DPR) is currently 25.16%.

Insider Activity

In other Salesforce news, CAO Sundeep G. Reddy sold 436 shares of the 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 completion of the sale, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at $2,344,899.96. This trade represents 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 business’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $329.88, for a total transaction of $2,052,183.48. Following the completion of the transaction, the chief financial officer now directly owns 45,861 shares in the company, valued at $15,128,626.68. This trade represents a 11.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 45,660 shares of company stock worth $14,095,336 over the last ninety days. Corporate 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.