Citizens Business Bank Has $6.92 Million Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Citizens Business Bank grew its stake in shares of Salesforce, Inc. (NYSE:CRM) by 97.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,710 shares of the CRM provider’s stock after purchasing an additional 10,238 shares during the period. Salesforce makes up 1.3% of Citizens Business Bank’s investment portfolio, making the stock its 24th biggest holding. Citizens Business Bank’s holdings in Salesforce were worth $6,924,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in CRM. Bernard Wealth Management Corp. bought a new position in shares of Salesforce in the fourth quarter valued at approximately $25,000. Accredited Wealth Management LLC bought a new stake in shares of Salesforce in the 4th quarter worth approximately $27,000. Arlington Trust Co LLC grew 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 acquiring an additional 40 shares during the period. Compass Financial Services Inc purchased a new position in shares of Salesforce in the fourth quarter worth about $30,000. Finally, Asset Planning Inc purchased a new position in Salesforce in the 4th quarter valued at approximately $31,000. Institutional investors own 80.43% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Robert W. Baird lowered their price target on shares of Salesforce from $430.00 to $400.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. Cantor Fitzgerald started coverage on Salesforce in a research report on Wednesday, April 23rd. They issued an “overweight” rating and a $210.00 target price for the company. Westpark Capital reaffirmed a “buy” rating and set a $320.00 price objective on shares of Salesforce in a research note on Wednesday, April 30th. BMO Capital Markets reiterated an “outperform” rating on shares of Salesforce in a report on Wednesday, March 19th. Finally, Stifel Nicolaus dropped their price objective on Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have issued a buy rating and five have issued a strong buy rating to the company’s stock. According to MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and an average target price of $350.56.

Insider Buying and Selling

In other news, CAO Sundeep G. Reddy sold 500 shares of the business’s stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $275.00, for a total value of $137,500.00. Following the transaction, the chief accounting officer now owns 11,711 shares of the company’s stock, valued at approximately $3,220,525. The trade was a 4.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $328.18, for a total value of $2,041,607.78. Following the transaction, the chief financial officer now owns 46,750 shares of the company’s stock, valued at approximately $15,342,415. The trade was a 11.74 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,830 shares of company stock valued at $12,907,361. 3.20% of the stock is owned by corporate insiders.

Salesforce Stock Up 1.8 %

CRM stock opened at $278.22 on Thursday. The business’s 50-day moving average is $267.83 and its two-hundred day moving average is $307.23. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market cap of $267.48 billion, a price-to-earnings ratio of 45.76, a P/E/G ratio of 2.58 and a beta of 1.42. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00.

Salesforce Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 0.60%. The ex-dividend date of this dividend was Thursday, April 10th. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s payout ratio is currently 26.10%.

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.