Schroder Investment Management Group Sells 22,454 Shares of Salesforce, Inc. (NYSE:CRM)

Schroder Investment Management Group lessened its stake in Salesforce, Inc. (NYSE:CRM) by 0.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,989,116 shares of the CRM provider’s stock after selling 22,454 shares during the period. Salesforce accounts for approximately 1.0% of Schroder Investment Management Group’s investment portfolio, making the stock its 16th largest holding. Schroder Investment Management Group owned about 0.31% of Salesforce worth $999,351,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Arlington Trust Co LLC raised its stake in 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 buying an additional 40 shares during the last quarter. Compass Financial Services Inc acquired a new stake in Salesforce in the 4th quarter worth approximately $30,000. Asset Planning Inc purchased a new stake in Salesforce during the 4th quarter worth approximately $31,000. Collier Financial acquired a new position in Salesforce during the 4th quarter valued at approximately $32,000. Finally, Halbert Hargrove Global Advisors LLC purchased a new position in shares of Salesforce in the fourth quarter worth $35,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $329.88, for a total transaction of $2,052,183.48. Following the transaction, 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Parker Harris sold 652 shares of Salesforce stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $216,646.56. Following the completion of the sale, the insider now owns 121,467 shares in the company, valued at approximately $40,361,054.76. This trade represents a 0.53 % 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 quarter. Insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

Salesforce stock opened at $270.04 on Friday. The stock has a market cap of $259.51 billion, a price-to-earnings ratio of 44.42, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a 50 day simple moving average of $309.39 and a 200-day simple moving average of $311.13. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00.

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 $0.42 dividend. The ex-dividend date is Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a yield of 0.62%. This is an increase from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s payout ratio is currently 26.10%.

Wall Street Analyst Weigh In

CRM has been the subject of a number of research analyst reports. JPMorgan Chase & Co. raised their target price on Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Loop Capital decreased their target price on Salesforce from $330.00 to $300.00 and set a “hold” rating for the company in a report on Thursday, February 27th. Barclays increased their price target on shares of Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Robert W. Baird decreased their price objective on shares of Salesforce from $430.00 to $400.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. Finally, Citigroup reiterated a “buy” rating on shares of Salesforce in a research note on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and an average price target of $362.74.

About Salesforce

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.