SageView Advisory Group LLC Has $3.37 Million Stock Position in Salesforce, Inc. (NYSE:CRM)

SageView Advisory Group LLC increased its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 40.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,091 shares of the CRM provider’s stock after buying an additional 2,905 shares during the quarter. SageView Advisory Group LLC’s holdings in Salesforce were worth $3,374,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CRM. Bernard Wealth Management Corp. acquired a new stake in shares of Salesforce in the 4th quarter valued at approximately $25,000. Arlington Trust Co LLC lifted its stake in 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 during the last quarter. Compass Financial Services Inc acquired a new stake in Salesforce in the fourth quarter valued at approximately $30,000. Asset Planning Inc bought a new stake in shares of Salesforce during the fourth quarter worth $31,000. Finally, Collier Financial bought a new position in shares of Salesforce in the 4th quarter valued at $32,000. Institutional investors own 80.43% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Sundeep G. Reddy sold 500 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $335.94, for a total transaction of $167,970.00. Following the completion of the sale, the chief accounting officer now directly owns 6,557 shares of the company’s stock, valued at $2,202,758.58. This trade represents a 7.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction dated 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 sale, the chief financial officer now directly owns 45,861 shares in the company, valued at approximately $15,128,626.68. This represents a 11.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 45,660 shares of company stock valued at $14,095,336 in the last 90 days. 3.20% of the stock is currently owned by corporate insiders.

Salesforce Price Performance

Shares of NYSE:CRM opened at $254.98 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. The stock has a market cap of $245.04 billion, a PE ratio of 41.94, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. The stock’s fifty day simple moving average is $289.29 and its two-hundred day simple moving average is $310.46. 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 $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 0.66%. This is an increase from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 10th. Salesforce’s dividend payout ratio is presently 26.10%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CRM. Stephens started coverage on Salesforce in a research report on Wednesday, March 19th. They set an “equal weight” rating and a $311.00 price objective on the stock. Loop Capital lowered their price objective on Salesforce from $330.00 to $300.00 and set a “hold” rating for the company in a research note on Thursday, February 27th. Scotiabank dropped their price objective 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. Citigroup reissued a “buy” rating on shares of Salesforce in a report on Wednesday, March 19th. Finally, Oppenheimer dropped their price target on shares of Salesforce from $415.00 to $380.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and an average target price of $361.42.

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.