Nicolet Bankshares Inc. Lowers Holdings in Salesforce, Inc. (NYSE:CRM)

Nicolet Bankshares Inc. reduced its position in shares of Salesforce, Inc. (NYSE:CRM) by 0.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,056 shares of the CRM provider’s stock after selling 69 shares during the quarter. Nicolet Bankshares Inc.’s holdings in Salesforce were worth $2,693,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. NFP Retirement Inc. raised its position in Salesforce by 6.5% in the fourth quarter. NFP Retirement Inc. now owns 1,111 shares of the CRM provider’s stock worth $371,000 after acquiring an additional 68 shares during the period. Sterling Capital Management LLC boosted its stake in shares of Salesforce by 1.9% in the fourth quarter. Sterling Capital Management LLC now owns 45,457 shares of the CRM provider’s stock worth $15,198,000 after acquiring an additional 834 shares during the period. Schiavi & Co LLC bought a new position in shares of Salesforce during the 4th quarter valued at about $217,000. Hobbs Wealth Management LLC bought a new stake in shares of Salesforce in the 4th quarter worth about $291,000. Finally, Coign Capital Advisors LLC bought a new stake in shares of Salesforce in the 4th quarter valued at approximately $718,000. Institutional investors own 80.43% of the company’s stock.

Salesforce Trading Down 0.1 %

Shares of Salesforce stock opened at $254.98 on Friday. The company has a market capitalization of $245.04 billion, a P/E ratio of 41.94, a P/E/G ratio of 2.58 and a beta of 1.38. The business has a 50 day moving average price of $289.29 and a 200 day moving average price of $310.46. Salesforce, Inc. has a 1 year low of $212.00 and a 1 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.

Salesforce Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th will be issued a dividend of $0.42 per share. This is a boost from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $1.68 annualized dividend and a dividend yield of 0.66%. Salesforce’s dividend payout ratio (DPR) is 26.10%.

Analysts Set New Price Targets

Several equities analysts have recently commented on CRM shares. Robert W. Baird cut their price target on Salesforce from $430.00 to $400.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Salesforce in a research report on Wednesday, March 19th. Guggenheim reissued a “sell” rating and issued a $247.00 price objective on shares of Salesforce in a research note on Thursday, February 27th. Stifel Nicolaus dropped their target price on Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Finally, Macquarie restated a “neutral” rating and set a $320.00 price objective on shares of Salesforce in a research note on Thursday, March 20th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $361.42.

Insider Activity

In other news, Director Oscar Munoz bought 3,882 shares of the business’s stock in a transaction that occurred on Thursday, April 3rd. The shares were acquired at an average cost of $257.28 per share, with a total value of $998,760.96. Following the transaction, the director now owns 11,843 shares of the company’s stock, valued at $3,046,967.04. This represents a 48.76 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Sundeep G. Reddy sold 436 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 value of $144,874.08. Following the sale, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at approximately $2,344,899.96. This trade represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 45,660 shares of company stock valued at $14,095,336 over the last quarter. Company insiders own 3.20% of the company’s stock.

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.