Dillon & Associates Inc. Increases Position in Salesforce, Inc. (NYSE:CRM)

Dillon & Associates Inc. increased its stake in Salesforce, Inc. (NYSE:CRM) by 0.2% during the 4th quarter, Holdings Channel.com reports. The fund owned 27,651 shares of the CRM provider’s stock after buying an additional 67 shares during the period. Salesforce accounts for approximately 1.3% of Dillon & Associates Inc.’s portfolio, making the stock its 25th largest position. Dillon & Associates Inc.’s holdings in Salesforce were worth $9,235,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new position in Salesforce in the fourth quarter worth $1,173,564,000. Jennison Associates LLC raised its stake in shares of Salesforce by 52.7% during the fourth quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider’s stock valued at $1,482,347,000 after purchasing an additional 1,530,572 shares in the last quarter. Swedbank AB raised its position in Salesforce by 46.7% in the fourth quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider’s stock worth $1,280,408,000 after acquiring an additional 1,219,254 shares in the last quarter. Proficio Capital Partners LLC raised its position in Salesforce by 56,872.2% in the fourth quarter. Proficio Capital Partners LLC now owns 933,204 shares of the CRM provider’s stock worth $311,998,000 after acquiring an additional 931,566 shares in the last quarter. Finally, State Street Corp raised its position in Salesforce by 1.8% in the third quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock worth $13,432,855,000 after acquiring an additional 864,193 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on CRM shares. Needham & Company LLC reiterated a “buy” rating and issued a $400.00 target price on shares of Salesforce in a report on Thursday, February 27th. DA Davidson lowered their price objective on Salesforce from $300.00 to $275.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. Scotiabank lowered their price objective on Salesforce from $400.00 to $345.00 and set a “sector outperform” rating on the stock in a report on Monday, March 17th. Barclays raised their target price on Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, Guggenheim reaffirmed a “sell” rating and issued a $247.00 target price on shares of Salesforce in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $362.74.

Salesforce Trading Up 0.9 %

Salesforce stock opened at $281.56 on Monday. The company has a market cap of $270.58 billion, a P/E ratio of 46.31, a PEG ratio of 2.58 and a beta of 1.35. The firm’s 50-day moving average is $313.51 and its 200-day moving average is $310.36. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00.

Insider Buying and Selling at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $277.37, for a total value of $1,725,518.77. Following the completion of the sale, the chief financial officer now owns 46,750 shares in the company, valued at approximately $12,967,047.50. This trade represents a 11.74 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider R David Schmaier sold 1,785 shares of the firm’s stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $344.00, for a total value of $614,040.00. Following the transaction, the insider now owns 19,116 shares of the company’s stock, valued at $6,575,904. This trade represents a 8.54 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,762 shares of company stock valued at $13,733,407. 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.