OMERS ADMINISTRATION Corp Grows Holdings in Salesforce, Inc. (NYSE:CRM)

OMERS ADMINISTRATION Corp raised its position in Salesforce, Inc. (NYSE:CRM) by 4.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 91,054 shares of the CRM provider’s stock after buying an additional 3,500 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Salesforce were worth $30,442,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of CRM. Nvest Financial LLC increased its holdings in Salesforce by 1.1% during the 4th quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock worth $938,000 after purchasing an additional 31 shares during the last quarter. OMC Financial Services LTD increased its holdings in shares of Salesforce by 0.3% in the 4th quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock valued at $3,808,000 after acquiring an additional 31 shares during the last quarter. Capital Advisors Ltd. LLC raised its position in shares of 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 acquiring an additional 31 shares in the last quarter. Sachetta LLC raised its position in shares of Salesforce by 0.3% during the 4th quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock valued at $3,684,000 after acquiring an additional 32 shares in the last quarter. Finally, Prossimo Advisors LLC lifted its stake in Salesforce by 1.0% during the fourth 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. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CRM has been the topic of a number of research reports. BMO Capital Markets reissued an “outperform” rating on shares of Salesforce in a report on Wednesday, March 19th. DA Davidson reaffirmed an “underperform” rating and set a $200.00 price objective on shares of Salesforce in a research report on Monday, April 21st. Stephens assumed coverage on shares of Salesforce in a report on Wednesday, March 19th. They issued an “equal weight” rating and a $311.00 target price on the stock. Needham & Company LLC reiterated a “buy” rating and set a $400.00 price target on shares of Salesforce in a research report on Friday, April 25th. Finally, Westpark Capital reissued a “buy” rating and issued a $320.00 price target on shares of Salesforce in a report on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have issued a buy rating and five have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $350.56.

Insider Activity

In related news, CAO Sundeep G. Reddy sold 500 shares of the business’s stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $275.00, for a total transaction of $137,500.00. Following the transaction, the chief accounting officer now directly owns 11,711 shares of the company’s stock, valued at approximately $3,220,525. The trade was a 4.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robin L. Washington bought 1,695 shares of the business’s stock in a transaction on Friday, February 28th. The stock was bought at an average price of $294.61 per share, with a total value of $499,363.95. Following the transaction, the director now owns 43,445 shares in the company, valued at approximately $12,799,331.45. This represents a 4.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 45,830 shares of company stock worth $12,907,361 over the last quarter. Corporate insiders own 3.20% of the company’s stock.

Salesforce Stock Up 4.8%

CRM stock opened at $288.62 on Tuesday. The company’s 50 day simple moving average is $267.27 and its 200-day simple moving average is $307.35. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. 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 market capitalization of $277.48 billion, a P/E ratio of 47.47, a P/E/G ratio of 2.58 and a beta of 1.42.

Salesforce Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were paid a dividend of $0.42 per share. This is an increase from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a yield of 0.58%. The ex-dividend date of this dividend was Thursday, April 10th. Salesforce’s payout ratio is 26.10%.

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.