Bcwm LLC Purchases Shares of 32,709 Salesforce, Inc. (NYSE:CRM)

Bcwm LLC acquired a new position in shares of Salesforce, Inc. (NYSE:CRM) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 32,709 shares of the CRM provider’s stock, valued at approximately $10,936,000. Salesforce makes up 3.9% of Bcwm LLC’s portfolio, making the stock its 4th biggest position.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CRM. United Bank grew its position in Salesforce by 13.2% during the fourth quarter. United Bank now owns 8,268 shares of the CRM provider’s stock valued at $2,764,000 after buying an additional 965 shares during the period. Physician Wealth Advisors Inc. acquired a new position in Salesforce in the fourth quarter valued at approximately $141,000. IPG Investment Advisors LLC grew its holdings in shares of Salesforce by 24.5% during the 4th quarter. IPG Investment Advisors LLC now owns 16,023 shares of the CRM provider’s stock worth $5,363,000 after purchasing an additional 3,157 shares during the period. RWA Wealth Partners LLC increased its position in shares of Salesforce by 26.7% during the fourth quarter. RWA Wealth Partners LLC now owns 11,026 shares of the CRM provider’s stock valued at $3,686,000 after acquiring an additional 2,324 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Salesforce by 113.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 410,057 shares of the CRM provider’s stock valued at $137,094,000 after purchasing an additional 217,689 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

CRM has been the topic of a number of research reports. KeyCorp upgraded shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 target price on the stock in a report on Friday, December 13th. DA Davidson reduced their price target on shares of Salesforce from $300.00 to $275.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. JMP Securities reaffirmed a “market outperform” rating and issued a $450.00 target price on shares of Salesforce in a report on Wednesday, December 18th. Jefferies Financial Group lifted their target price on shares of Salesforce from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, Stifel Nicolaus lowered their price target on Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock 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 given a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $362.74.

Insider Transactions at Salesforce

In other news, insider R David Schmaier sold 1,785 shares of Salesforce stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $288.34, for a total transaction of $514,686.90. Following the transaction, the insider now owns 29,190 shares in the company, valued at $8,416,644.60. This trade represents a 5.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction on 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 transaction, the chief financial officer now directly owns 45,861 shares of the company’s stock, valued at $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 45,660 shares of company stock valued at $14,095,336 in the last three months. 3.20% of the stock is currently owned by company insiders.

Salesforce Price Performance

CRM stock opened at $270.04 on Friday. The firm’s fifty day moving average is $309.39 and its 200 day moving average is $311.13. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The firm has a market cap of $259.51 billion, a P/E ratio of 44.42, a P/E/G ratio of 2.58 and a beta of 1.35. 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 Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 10th will be paid a $0.42 dividend. This is an increase from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend is Thursday, April 10th. Salesforce’s dividend payout ratio is presently 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.