Pioneer Trust Bank N A OR Has $8.28 Million Position in Salesforce, Inc. (NYSE:CRM)

Pioneer Trust Bank N A OR lifted its position in shares of Salesforce, Inc. (NYSE:CRM) by 3.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,779 shares of the CRM provider’s stock after purchasing an additional 780 shares during the period. Salesforce accounts for 2.1% of Pioneer Trust Bank N A OR’s portfolio, making the stock its 17th largest holding. Pioneer Trust Bank N A OR’s holdings in Salesforce were worth $8,284,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Salesforce during the 4th quarter worth about $3,599,867,000. Raymond James Financial Inc. bought a new stake in shares of Salesforce during the fourth quarter worth approximately $1,173,564,000. Jennison Associates LLC grew its position in shares of Salesforce by 52.7% in 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 during the last quarter. Swedbank AB grew its position in shares of Salesforce by 46.7% in the fourth quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider’s stock valued at $1,280,408,000 after purchasing an additional 1,219,254 shares during the last quarter. Finally, Franklin Resources Inc. lifted its holdings in Salesforce by 27.4% during the 4th quarter. Franklin Resources Inc. now owns 5,598,423 shares of the CRM provider’s stock worth $1,871,721,000 after purchasing an additional 1,204,355 shares during the last quarter. 80.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on CRM shares. TD Cowen raised Salesforce from a “hold” rating to a “buy” rating and upped their price objective for the company from $380.00 to $400.00 in a report on Friday, January 17th. JMP Securities reiterated a “market outperform” rating and issued a $450.00 price objective on shares of Salesforce in a research note on Wednesday, December 18th. Loop Capital decreased their target price on shares of Salesforce from $330.00 to $300.00 and set a “hold” rating on the stock in a research report on Thursday, February 27th. Stephens initiated coverage on shares of Salesforce in a research report on Wednesday, March 19th. They issued an “equal weight” rating and a $311.00 price target for the company. Finally, Jefferies Financial Group reduced their price target on Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $361.42.

Insider Transactions at Salesforce

In related news, CAO Sundeep G. Reddy sold 436 shares of Salesforce stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $144,874.08. Following the completion of the transaction, the chief accounting officer now owns 7,057 shares of the company’s stock, valued at $2,344,899.96. This trade represents a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robin L. Washington purchased 1,695 shares of the business’s stock in a transaction on Friday, February 28th. The shares were purchased at an average cost of $294.61 per share, for a total transaction of $499,363.95. Following the transaction, the director now directly owns 43,445 shares of the company’s stock, valued at approximately $12,799,331.45. The trade was a 4.06 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 45,660 shares of company stock worth $14,095,336 over the last ninety days. 3.20% of the stock is owned by insiders.

Salesforce Price Performance

CRM stock opened at $240.26 on Friday. 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 52-week low of $212.00 and a 52-week high of $369.00. The company has a market capitalization of $230.89 billion, a P/E ratio of 39.52, a PEG ratio of 2.58 and a beta of 1.38. The company has a fifty day moving average price of $302.46 and a 200-day moving average price of $311.00.

Salesforce Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th will be paid a $0.42 dividend. This is a boost from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 10th. This represents a $1.68 annualized dividend and a dividend yield of 0.70%. Salesforce’s dividend payout ratio is presently 26.10%.

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.