Okabena Investment Services Inc. Grows Position in Salesforce, Inc. (NYSE:CRM)

Okabena Investment Services Inc. raised its position in Salesforce, Inc. (NYSE:CRM) by 14.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,013 shares of the CRM provider’s stock after purchasing an additional 994 shares during the period. Salesforce accounts for 0.7% of Okabena Investment Services Inc.’s investment portfolio, making the stock its 25th largest holding. Okabena Investment Services Inc.’s holdings in Salesforce were worth $2,679,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Infrastructure Capital Advisors LLC purchased a new stake in shares of Salesforce during the 3rd quarter worth $27,000. Arlington Trust Co LLC grew its position in shares of 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 purchasing an additional 40 shares during the last quarter. Compass Financial Services Inc acquired a new position in shares of Salesforce during the 4th quarter worth approximately $30,000. Asset Planning Inc purchased a new stake in Salesforce in the 4th quarter valued at approximately $31,000. Finally, Collier Financial acquired a new stake in Salesforce during the 4th quarter valued at $32,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Wedbush reiterated an “outperform” rating and set a $425.00 price objective on shares of Salesforce in a research report on Wednesday, December 18th. Jefferies Financial Group raised their target price on shares of Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Wells Fargo & Company reduced their price target on Salesforce from $345.00 to $310.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 27th. Needham & Company LLC reaffirmed a “buy” rating and issued a $400.00 price objective on shares of Salesforce in a research report on Thursday, February 27th. Finally, Bank of America lowered their price target on Salesforce from $440.00 to $400.00 and set a “buy” rating for the company in a report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the stock. According to MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and a consensus price target of $362.74.

Insider Buying and Selling

In other news, insider Parker Harris sold 652 shares of Salesforce stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $216,646.56. Following the completion of the transaction, the insider now directly owns 121,467 shares of the company’s stock, valued at approximately $40,361,054.76. This trade represents a 0.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $329.88, for a total value of $2,052,183.48. Following the sale, the chief financial officer now owns 45,861 shares in the company, 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. In the last 90 days, insiders sold 45,660 shares of company stock valued at $14,095,336. Company insiders own 3.20% of the company’s stock.

Salesforce Stock Down 2.8 %

CRM opened at $270.04 on Friday. 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’s fifty day simple moving average is $309.39 and its 200 day simple moving average is $310.68. 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 $259.51 billion, a PE ratio of 44.42, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35.

Salesforce Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date is Thursday, April 10th. This is a boost from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s dividend payout ratio (DPR) is currently 25.16%.

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.