Bank of Nova Scotia Has $299.28 Million Stock Position in Salesforce, Inc. (NYSE:CRM)

Bank of Nova Scotia raised its position in Salesforce, Inc. (NYSE:CRM) by 28.8% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 895,128 shares of the CRM provider’s stock after acquiring an additional 199,938 shares during the period. Bank of Nova Scotia owned approximately 0.09% of Salesforce worth $299,279,000 as of its most recent filing with the SEC.

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

Salesforce Trading Up 1.4 %

Shares of NYSE CRM opened at $244.16 on Tuesday. The stock has a market capitalization of $234.63 billion, a P/E ratio of 40.16, a PEG ratio of 2.58 and a beta of 1.38. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The business’s 50 day moving average is $300.39 and its two-hundred day moving average is $311.65. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00.

Salesforce Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th will be given a dividend of $0.42 per share. This is a boost from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a yield of 0.69%. Salesforce’s payout ratio is 26.10%.

Analyst Ratings Changes

CRM has been the topic of several analyst reports. JMP Securities reaffirmed a “market outperform” rating and set a $450.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. Stephens assumed coverage on shares of Salesforce in a research report on Wednesday, March 19th. They set an “equal weight” rating and a $311.00 price target on the stock. Stifel Nicolaus reduced their price objective on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Citigroup reissued a “buy” rating on shares of Salesforce in a research report on Wednesday, March 19th. Finally, Canaccord Genuity Group cut their price objective on Salesforce from $415.00 to $400.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $361.42.

Insider Transactions at Salesforce

In other news, CFO Amy E. Weaver sold 897 shares of the firm’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 $298,055.16. Following the transaction, the chief financial officer now directly owns 46,750 shares of the company’s stock, valued at approximately $15,534,090. This trade represents a 1.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Oscar Munoz acquired 3,882 shares of the company’s stock in a transaction that occurred on Thursday, April 3rd. The stock was purchased at an average cost of $257.28 per share, for a total transaction of $998,760.96. Following the purchase, the director now owns 11,843 shares of the company’s stock, valued at $3,046,967.04. This represents a 48.76 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders sold 45,660 shares of company stock worth $14,095,336. 3.20% of the stock is currently owned by insiders.

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.