Concentrum Wealth Management Invests $1 Million in Salesforce, Inc. (NYSE:CRM)

Concentrum Wealth Management acquired a new position in Salesforce, Inc. (NYSE:CRM) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,003 shares of the CRM provider’s stock, valued at approximately $1,004,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Arlington Trust Co LLC lifted its position in shares of Salesforce by 85.1% in 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 bought a new position in Salesforce in the fourth quarter worth $30,000. Asset Planning Inc acquired a new stake in Salesforce during the fourth quarter worth $31,000. Collier Financial bought a new stake in Salesforce in the 4th quarter valued at $32,000. Finally, Halbert Hargrove Global Advisors LLC acquired a new position in shares of Salesforce in the 4th quarter valued at $35,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analyst Ratings Changes

CRM has been the topic of a number of analyst reports. Canaccord Genuity Group lowered their target price on shares of Salesforce from $415.00 to $400.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Jefferies Financial Group lowered their price objective on Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Oppenheimer cut their target price on Salesforce from $415.00 to $380.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. Scotiabank lowered their price target on Salesforce from $400.00 to $345.00 and set a “sector outperform” rating on the stock in a research report on Monday, March 17th. Finally, Robert W. Baird cut their price objective on Salesforce from $430.00 to $400.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the company. According to MarketBeat, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus price target of $361.42.

Insider Buying and Selling at Salesforce

In related news, CAO Sundeep G. Reddy sold 500 shares of the stock in a transaction that occurred 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 approximately $2,202,758.58. This represents a 7.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Oscar Munoz purchased 3,882 shares of the business’s stock in a transaction on Thursday, April 3rd. The stock was bought 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 approximately $3,046,967.04. This represents a 48.76 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 45,660 shares of company stock valued at $14,095,336. Company insiders own 3.20% of the company’s stock.

Salesforce Trading Down 5.9 %

CRM opened at $240.26 on Monday. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The firm has a market cap of $230.89 billion, a PE ratio of 39.52, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. 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 firm’s fifty day moving average is $302.46 and its two-hundred day moving average is $311.80.

Salesforce Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, April 10th. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a yield of 0.70%. Salesforce’s payout ratio is currently 26.10%.

About Salesforce

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.