Hilltop Holdings Inc. Grows Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Hilltop Holdings Inc. raised its holdings in Salesforce, Inc. (NYSE:CRM) by 138.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 10,597 shares of the CRM provider’s stock after acquiring an additional 6,148 shares during the period. Hilltop Holdings Inc.’s holdings in Salesforce were worth $2,900,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in CRM. Piscataqua Savings Bank lifted its position in Salesforce by 2,400.0% during the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after buying an additional 96 shares during the period. Infrastructure Capital Advisors LLC acquired a new position in shares of Salesforce during the 3rd quarter valued at about $27,000. Clear Investment Research LLC lifted its holdings in shares of Salesforce by 816.7% during the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after acquiring an additional 98 shares during the period. Godsey & Gibb Inc. boosted its position in shares of Salesforce by 300.0% in the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 90 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in Salesforce in the second quarter valued at approximately $33,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In related news, insider Miguel Milano sold 719 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $342.81, for a total value of $246,480.39. Following the sale, the insider now owns 4,659 shares of the company’s stock, valued at approximately $1,597,151.79. This trade represents a 13.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Sundeep G. Reddy sold 413 shares of the company’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $117,824.77. Following the transaction, the chief accounting officer now owns 7,006 shares of the company’s stock, valued at approximately $1,998,741.74. The trade was a 5.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 140,982 shares of company stock worth $41,591,457. 3.20% of the stock is currently owned by insiders.

Salesforce Stock Up 0.3 %

Shares of Salesforce stock opened at $330.82 on Tuesday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The firm has a market cap of $316.26 billion, a P/E ratio of 57.53, a P/E/G ratio of 2.99 and a beta of 1.30. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $348.86. The business has a 50-day moving average price of $302.12 and a 200 day moving average price of $270.49.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were issued a dividend of $0.40 per share. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.48%. Salesforce’s dividend payout ratio (DPR) is 27.83%.

Wall Street Analyst Weigh In

CRM has been the topic of a number of recent analyst reports. Wells Fargo & Company increased their price target on shares of Salesforce from $275.00 to $330.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 12th. TD Cowen lifted their target price on Salesforce from $290.00 to $340.00 and gave the company a “hold” rating in a report on Thursday, November 21st. Phillip Securities reissued an “accumulate” rating and set a $305.00 price target on shares of Salesforce in a research report on Friday, August 30th. UBS Group raised their price objective on Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Finally, JMP Securities boosted their target price on Salesforce from $342.00 to $450.00 and gave the stock a “market outperform” rating in a report on Friday, November 22nd. Seven analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $343.89.

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.