Intrust Bank NA Grows Position in Salesforce, Inc. (NYSE:CRM)

Intrust Bank NA raised its stake in shares of Salesforce, Inc. (NYSE:CRM) by 1.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,174 shares of the CRM provider’s stock after purchasing an additional 85 shares during the period. Intrust Bank NA’s holdings in Salesforce were worth $2,398,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Nvest Financial LLC boosted its stake in Salesforce by 1.1% during the 4th quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock valued at $938,000 after purchasing an additional 31 shares during the period. OMC Financial Services LTD grew its stake in shares of Salesforce by 0.3% in the fourth quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock worth $3,808,000 after acquiring an additional 31 shares during the last quarter. Capital Advisors Ltd. LLC raised its stake in Salesforce by 4.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock valued at $263,000 after purchasing an additional 31 shares during the last quarter. Sachetta LLC boosted its holdings in Salesforce by 0.3% in the 4th quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock valued at $3,684,000 after purchasing an additional 32 shares during the period. Finally, Prossimo Advisors LLC grew its position in Salesforce by 1.0% in the 4th quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock worth $1,125,000 after purchasing an additional 32 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Stock Down 2.8 %

Shares of NYSE CRM opened at $270.04 on Friday. The firm’s 50-day moving average is $309.39 and its 200-day moving average is $310.68. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The firm has a market capitalization 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. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th will be given a dividend of $0.42 per share. This is a boost from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $1.68 annualized dividend and a dividend yield of 0.62%. Salesforce’s payout ratio is presently 25.16%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CRM. Stephens assumed coverage on shares of Salesforce in a research note on Wednesday, March 19th. They issued an “equal weight” rating and a $311.00 target price for the company. Stifel Nicolaus lowered their price objective on Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Scotiabank cut their target price on Salesforce from $400.00 to $345.00 and set a “sector outperform” rating for the company in a research note on Monday, March 17th. The Goldman Sachs Group lifted their price target on shares of Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, Royal Bank of Canada raised their price objective on shares of Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. One equities 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 company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $362.74.

Insider Activity

In related news, insider R David Schmaier sold 1,785 shares of the company’s stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $288.34, for a total value of $514,686.90. Following the completion of the sale, the insider now owns 29,190 shares in the company, valued at approximately $8,416,644.60. This represents a 5.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $329.88, for a total value of $2,052,183.48. Following the transaction, the chief financial officer now owns 45,861 shares of the company’s stock, valued at $15,128,626.68. The trade was a 11.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 45,660 shares of company stock valued at $14,095,336 in the last 90 days. 3.20% of the stock is owned by company insiders.

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.