Meeder Asset Management Inc. Has $652,000 Stake in Salesforce, Inc. (NYSE:CRM)

Meeder Asset Management Inc. raised its holdings in Salesforce, Inc. (NYSE:CRM) by 192.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,951 shares of the CRM provider’s stock after buying an additional 1,285 shares during the period. Meeder Asset Management Inc.’s holdings in Salesforce were worth $652,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Foundations Investment Advisors LLC raised its holdings in Salesforce by 15.0% during the fourth quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock worth $12,194,000 after acquiring an additional 4,752 shares in the last quarter. Nabity Jensen Investment Management Inc acquired a new position in shares of Salesforce during the 3rd quarter worth approximately $1,215,000. Athena Investment Management bought a new stake in shares of Salesforce during the 4th quarter worth approximately $236,000. Highland Capital Management LLC acquired a new stake in shares of Salesforce in the 4th quarter valued at approximately $4,321,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Salesforce by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock valued at $5,395,132,000 after buying an additional 257,501 shares during the last quarter. 80.43% of the stock is owned by institutional investors.

Insider Transactions at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction that occurred on 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 owns 45,861 shares of the company’s stock, valued at approximately $15,128,626.68. This represents a 11.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider R David Schmaier sold 1,785 shares of the business’s stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $288.34, for a total transaction of $514,686.90. Following the completion of 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 45,660 shares of company stock worth $14,095,336. Company insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

CRM has been the topic of several analyst reports. Barclays upped their price target on shares of Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Bank of America cut their target price on shares of Salesforce from $440.00 to $400.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Stephens started coverage on Salesforce in a research note on Wednesday, March 19th. They issued an “equal weight” rating and a $311.00 price objective on the stock. Morgan Stanley lifted their target price on Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Finally, Canaccord Genuity Group dropped their price target on Salesforce from $415.00 to $400.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. One 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $361.42.

Salesforce Price Performance

Salesforce stock opened at $268.05 on Tuesday. The company has a market capitalization of $257.60 billion, a PE ratio of 44.09, a P/E/G 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 stock has a 50-day moving average price of $308.26 and a two-hundred day moving average price of $311.67. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00.

Salesforce Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th will be given a $0.42 dividend. This is a boost from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a yield of 0.63%. The ex-dividend date is Thursday, April 10th. Salesforce’s dividend payout ratio is 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.