Salesforce, Inc. (NYSE:CRM) Shares Purchased by Kelly Lawrence W & Associates Inc. CA

Kelly Lawrence W & Associates Inc. CA raised its position in Salesforce, Inc. (NYSE:CRM) by 0.7% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 12,234 shares of the CRM provider’s stock after purchasing an additional 90 shares during the period. Salesforce comprises approximately 1.0% of Kelly Lawrence W & Associates Inc. CA’s portfolio, making the stock its 27th biggest holding. Kelly Lawrence W & Associates Inc. CA’s holdings in Salesforce were worth $4,090,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in CRM. Bernard Wealth Management Corp. purchased a new stake in shares of Salesforce in the fourth quarter valued at $25,000. Arlington Trust Co LLC boosted its stake 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 worth $29,000 after purchasing an additional 40 shares during the last quarter. Compass Financial Services Inc purchased a new stake in Salesforce in the 4th quarter worth approximately $30,000. Asset Planning Inc purchased a new stake in shares of Salesforce in the fourth quarter valued at $31,000. Finally, Collier Financial acquired a new position in Salesforce in the fourth quarter valued at $32,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on CRM. Macquarie restated a “neutral” rating and issued a $320.00 price target on shares of Salesforce in a report on Thursday, March 20th. Scotiabank lowered their target price on shares of Salesforce from $400.00 to $345.00 and set a “sector outperform” rating for the company in a report on Monday, March 17th. Piper Sandler reaffirmed an “overweight” rating on shares of Salesforce in a research note on Wednesday, March 19th. Needham & Company LLC reiterated a “buy” rating and issued a $400.00 price target on shares of Salesforce in a report on Thursday, February 27th. Finally, Citigroup restated a “buy” rating on shares of Salesforce in a report on Wednesday, March 19th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty have issued a buy rating and five have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $360.32.

Insider Buying and Selling

In related news, CAO Sundeep G. Reddy sold 436 shares of the company’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $144,874.08. Following the completion of the transaction, the chief accounting officer now directly owns 7,057 shares in the company, valued at $2,344,899.96. This represents a 5.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Parker Harris sold 652 shares of the business’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $216,646.56. Following the transaction, the insider now directly owns 121,467 shares of the company’s stock, valued at $40,361,054.76. The trade was a 0.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 47,654 shares of company stock worth $14,124,094 over the last ninety days. 3.20% of the stock is owned by insiders.

Salesforce Price Performance

CRM opened at $246.93 on Friday. The company has a market capitalization of $237.30 billion, a P/E ratio of 40.61, a PEG ratio of 2.58 and a beta of 1.38. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The company has a 50-day moving average of $281.23 and a 200-day moving average of $309.60. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

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 $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.68%. This is an increase from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 10th. Salesforce’s payout ratio is 26.10%.

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.