PFC Capital Group Inc. Boosts Stock Holdings in Salesforce, Inc. (NYSE:CRM)

PFC Capital Group Inc. raised its position in Salesforce, Inc. (NYSE:CRM) by 0.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,870 shares of the CRM provider’s stock after buying an additional 50 shares during the quarter. Salesforce comprises about 1.3% of PFC Capital Group Inc.’s holdings, making the stock its 18th largest position. PFC Capital Group Inc.’s holdings in Salesforce were worth $2,631,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CRM. 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 in the last quarter. Compass Financial Services Inc purchased a new position in Salesforce during the 4th quarter valued at about $30,000. Asset Planning Inc bought a new stake in shares of Salesforce during the fourth quarter valued at about $31,000. Collier Financial bought a new stake in Salesforce during the 4th quarter worth approximately $32,000. Finally, Halbert Hargrove Global Advisors LLC bought a new stake in Salesforce during the 4th quarter worth approximately $35,000. Institutional investors own 80.43% of the company’s stock.

Salesforce Price Performance

Shares of CRM stock opened at $268.05 on Tuesday. 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 fifty-two week low of $212.00 and a fifty-two week high of $369.00. The firm has a market cap of $257.60 billion, a P/E ratio of 44.09, a P/E/G ratio of 2.58 and a beta of 1.35. The business’s 50 day moving average price is $308.26 and its 200-day moving average price is $311.67.

Salesforce Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 10th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $1.68 annualized dividend and a yield of 0.63%. This is a boost from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s payout ratio is 26.10%.

Analyst Ratings Changes

A number of research firms have recently commented on CRM. The Goldman Sachs Group boosted their price target on shares of Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. JMP Securities restated a “market outperform” rating and issued a $450.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. Stephens assumed coverage on Salesforce in a research report on Wednesday, March 19th. They set an “equal weight” rating and a $311.00 price target for the company. Truist Financial restated a “buy” rating and issued a $400.00 price objective (up from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. Finally, Morgan Stanley raised their target price on shares of Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. One 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’s stock. Based on data from MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and an average target price of $361.42.

Insider Buying and Selling at Salesforce

In related news, CAO Sundeep G. Reddy sold 436 shares of the business’s stock in a transaction dated Thursday, January 23rd. The shares were 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. The trade was 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 through this hyperlink. Also, insider R David Schmaier sold 1,785 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 29,190 shares of the company’s stock, valued at $8,416,644.60. This trade represents a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 45,660 shares of company stock valued at $14,095,336. 3.20% of the stock is currently owned by company insiders.

Salesforce 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.