Thames Capital Management LLC Acquires 8,068 Shares of Salesforce, Inc. (NYSE:CRM)

Thames Capital Management LLC grew its holdings in Salesforce, Inc. (NYSE:CRM) by 20.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 47,266 shares of the CRM provider’s stock after buying an additional 8,068 shares during the quarter. Salesforce comprises approximately 4.3% of Thames Capital Management LLC’s portfolio, making the stock its 9th largest holding. Thames Capital Management LLC’s holdings in Salesforce were worth $15,802,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. United Bank increased its holdings in shares of Salesforce by 1.1% in the third quarter. United Bank now owns 7,303 shares of the CRM provider’s stock valued at $1,999,000 after purchasing an additional 76 shares in the last quarter. Weiss Asset Management LP acquired a new stake in shares of Salesforce in the 3rd quarter valued at $3,048,000. EP Wealth Advisors LLC raised its position in shares of Salesforce by 241.0% during the third quarter. EP Wealth Advisors LLC now owns 102,393 shares of the CRM provider’s stock worth $28,026,000 after acquiring an additional 72,362 shares during the last quarter. Glen Eagle Advisors LLC lifted its stake in shares of Salesforce by 28.4% during the third quarter. Glen Eagle Advisors LLC now owns 4,683 shares of the CRM provider’s stock valued at $1,282,000 after acquiring an additional 1,037 shares during the period. Finally, National Bank of Canada FI boosted its holdings in Salesforce by 11.7% in the third quarter. National Bank of Canada FI now owns 974,566 shares of the CRM provider’s stock valued at $266,748,000 after acquiring an additional 102,122 shares during the last quarter. 80.43% of the stock is owned by institutional investors.

Insider Activity

In other Salesforce news, CAO Sundeep G. Reddy sold 436 shares of the stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $144,874.08. Following the transaction, the chief accounting officer now owns 7,057 shares in the company, valued at $2,344,899.96. This trade represents a 5.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $329.88, for a total transaction of $2,052,183.48. Following the completion of the sale, the chief financial officer now directly owns 45,861 shares of the company’s stock, valued at approximately $15,128,626.68. The trade was a 11.94 % 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 three months. Insiders own 3.20% of the company’s stock.

Salesforce Trading Down 5.9 %

Shares of Salesforce stock opened at $240.26 on Friday. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The business’s 50 day moving average is $302.46 and its 200-day moving average is $311.39. The stock has a market cap of $230.89 billion, a P/E ratio of 39.52, a P/E/G ratio of 2.58 and a beta of 1.38.

Salesforce Increases Dividend

The company also recently announced 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 annualized dividend and a yield of 0.70%. The ex-dividend date is Thursday, April 10th. Salesforce’s dividend payout ratio (DPR) is 26.10%.

Analyst Ratings Changes

Several analysts have weighed in on the company. DA Davidson dropped their price objective on Salesforce from $300.00 to $275.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. KeyCorp raised shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price target for the company in a research note on Friday, December 13th. Loop Capital reduced their price objective on shares of Salesforce from $330.00 to $300.00 and set a “hold” rating on the stock in a research note on Thursday, February 27th. TD Cowen upgraded shares of Salesforce from a “hold” rating to a “buy” rating and upped their target price for the company from $380.00 to $400.00 in a research report on Friday, January 17th. Finally, Canaccord Genuity Group reduced their price target on Salesforce from $415.00 to $400.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $361.42.

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.