Meeder Asset Management Inc. Buys 1,285 Shares of Salesforce, Inc. (NYSE:CRM)

Meeder Asset Management Inc. grew its stake in shares of Salesforce, Inc. (NYSE:CRM) by 192.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,951 shares of the CRM provider’s stock after purchasing an additional 1,285 shares during the period. Meeder Asset Management Inc.’s holdings in Salesforce were worth $652,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Arlington Trust Co LLC grew its stake in Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after acquiring an additional 40 shares during the period. Compass Financial Services Inc acquired a new stake in Salesforce in the 4th quarter valued at $30,000. Asset Planning Inc bought a new stake in Salesforce during the 4th quarter valued at $31,000. Collier Financial acquired a new position in Salesforce during the fourth quarter worth $32,000. Finally, Halbert Hargrove Global Advisors LLC bought a new position in shares of Salesforce in the fourth quarter valued at $35,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Stock Down 0.7 %

CRM stock opened at $268.05 on Tuesday. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The stock has a market cap of $257.60 billion, a price-to-earnings ratio of 44.09, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. 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 company’s 50 day moving average is $308.26 and its 200 day moving average is $311.67.

Salesforce Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 10th will be given a $0.42 dividend. 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 0.63%. Salesforce’s payout ratio is 26.10%.

Insider Activity at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 500 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $335.94, for a total value of $167,970.00. Following the completion of the sale, the chief accounting officer now owns 6,557 shares of the company’s stock, valued at $2,202,758.58. This represents a 7.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the business’s 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 $2,089,882.74. Following the completion of the sale, the chief financial officer now owns 46,750 shares of the company’s stock, valued at approximately $15,705,195. The trade was a 11.74 % decrease in their ownership of the stock. 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 over the last 90 days. 3.20% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on CRM. Royal Bank of Canada upped their target price on shares of Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Northland Securities reaffirmed an “outperform” rating and set a $440.00 target price (up previously from $400.00) on shares of Salesforce in a research report on Wednesday, December 4th. Macquarie restated a “neutral” rating and set a $320.00 price objective on shares of Salesforce in a research note on Thursday, March 20th. Jefferies Financial Group reduced their target price on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a research note on Monday. Finally, Barclays raised their price target on shares of Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. One 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 given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $361.42.

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.