Waterloo Capital L.P. Acquires 2,009 Shares of Salesforce, Inc. (NYSE:CRM)

Waterloo Capital L.P. raised its holdings in Salesforce, Inc. (NYSE:CRM) by 102.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,971 shares of the CRM provider’s stock after purchasing an additional 2,009 shares during the period. Waterloo Capital L.P.’s holdings in Salesforce were worth $1,328,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in CRM. Foundations Investment Advisors LLC raised its holdings in Salesforce by 15.0% in the 4th quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock valued at $12,194,000 after acquiring an additional 4,752 shares in the last quarter. Nabity Jensen Investment Management Inc bought a new position in Salesforce in the 3rd quarter valued at about $1,215,000. Athena Investment Management bought a new position in Salesforce in the 4th quarter valued at about $236,000. Highland Capital Management LLC acquired a new position in shares of Salesforce in the 4th quarter valued at approximately $4,321,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Salesforce by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock worth $5,395,132,000 after acquiring an additional 257,501 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CRM. Bank of America cut their target price on Salesforce from $440.00 to $400.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Scotiabank reduced their price objective on Salesforce from $400.00 to $345.00 and set a “sector outperform” rating on the stock in a research note on Monday, March 17th. DA Davidson lowered their target price on Salesforce from $300.00 to $275.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Loop Capital decreased their price target on shares of Salesforce from $330.00 to $300.00 and set a “hold” rating on the stock in a report on Thursday, February 27th. Finally, Robert W. Baird cut their target price on shares of Salesforce from $430.00 to $400.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $361.42.

Insider Buying and Selling at Salesforce

In related news, CAO Sundeep G. Reddy sold 500 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $335.94, for a total transaction of $167,970.00. Following the transaction, the chief accounting officer now directly owns 6,557 shares of the company’s stock, valued at $2,202,758.58. This trade represents a 7.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Amy E. Weaver sold 897 shares of Salesforce stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $298,055.16. Following the sale, the chief financial officer now owns 46,750 shares in the company, valued at $15,534,090. This trade represents a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 45,660 shares of company stock worth $14,095,336. 3.20% of the stock is owned by corporate insiders.

Salesforce Stock Down 5.9 %

Shares of NYSE:CRM opened at $240.26 on Monday. The firm has a market cap of $230.89 billion, a P/E ratio of 39.52, a PEG ratio of 2.58 and a beta of 1.38. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The business’s 50 day simple moving average is $302.46 and its two-hundred day simple moving average is $311.80. 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 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 10th will be given 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 0.70%. This is an increase from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s dividend payout ratio (DPR) is presently 26.10%.

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.