Clark Capital Management Group Inc. Has $9.03 Million Stake in Salesforce, Inc. (NYSE:CRM)

Clark Capital Management Group Inc. lifted its holdings in Salesforce, Inc. (NYSE:CRM) by 13.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,018 shares of the CRM provider’s stock after acquiring an additional 3,185 shares during the period. Clark Capital Management Group Inc.’s holdings in Salesforce were worth $9,033,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Bernard Wealth Management Corp. bought a new position in shares of Salesforce during the 4th quarter worth approximately $25,000. Accredited Wealth Management LLC bought a new position in Salesforce during the fourth quarter worth $27,000. Arlington Trust Co LLC grew its holdings in Salesforce by 85.1% in the fourth 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 period. Compass Financial Services Inc bought a new stake in Salesforce in the fourth quarter valued at $30,000. Finally, Asset Planning Inc acquired a new position in shares of Salesforce during the fourth quarter valued at about $31,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on CRM. Jefferies Financial Group cut their price target on Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Guggenheim raised shares of Salesforce from a “sell” rating to a “neutral” rating in a research report on Monday, April 21st. Bank of America dropped their price objective on shares of Salesforce from $440.00 to $400.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Robert W. Baird decreased their target price on shares of Salesforce from $430.00 to $400.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. Finally, Oppenheimer dropped their price target on shares of Salesforce from $415.00 to $380.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have assigned a buy rating and five have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and a consensus target price of $350.56.

Insider Transactions at Salesforce

In related news, CAO Sundeep G. Reddy sold 1,909 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $284.58, for a total value of $543,263.22. Following the sale, the chief accounting officer now owns 11,310 shares in the company, valued at approximately $3,218,599.80. This trade represents a 14.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was 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 directly owns 46,750 shares of the company’s stock, valued at $15,342,415. The trade was a 11.74 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 45,830 shares of company stock valued at $12,907,361. 3.20% of the stock is currently owned by corporate insiders.

Salesforce Price Performance

Salesforce stock opened at $279.54 on Friday. The firm has a market capitalization of $268.75 billion, a P/E ratio of 45.98, a PEG ratio of 2.58 and a beta of 1.42. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. 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 has a fifty day moving average price of $267.57 and a 200-day moving average price of $307.15.

Salesforce Increases Dividend

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