May Hill Capital LLC Makes New $389,000 Investment in Salesforce, Inc. (NYSE:CRM)

May Hill Capital LLC bought a new position in shares of Salesforce, Inc. (NYSE:CRM) during the 4th quarter, HoldingsChannel reports. The fund bought 1,164 shares of the CRM provider’s stock, valued at approximately $389,000.

A number of other large investors have also made changes to their positions in the stock. United Bank increased its stake in shares of Salesforce by 1.1% in the 3rd quarter. United Bank now owns 7,303 shares of the CRM provider’s stock worth $1,999,000 after acquiring an additional 76 shares during the last quarter. FSA Wealth Management LLC acquired a new stake in Salesforce during the third quarter worth about $53,000. Kestra Investment Management LLC purchased a new position in Salesforce during the third quarter worth about $766,000. Benjamin Edwards Inc. boosted its holdings in Salesforce by 3,967.2% in the 3rd quarter. Benjamin Edwards Inc. now owns 44,414 shares of the CRM provider’s stock valued at $12,157,000 after purchasing an additional 43,322 shares during the last quarter. Finally, Arrowroot Family Office LLC grew its stake in shares of Salesforce by 3.4% in the 3rd quarter. Arrowroot Family Office LLC now owns 4,694 shares of the CRM provider’s stock valued at $1,285,000 after buying an additional 156 shares during the period. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Trading Down 0.7 %

NYSE CRM opened at $268.05 on Tuesday. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The company has a market capitalization of $257.60 billion, a price-to-earnings ratio of 44.09, 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’s fifty day moving average price is $308.26 and its 200 day moving average price is $311.67.

Salesforce Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th will be given a dividend of $0.42 per share. The ex-dividend date is Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.63%. This is a boost from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s payout ratio is 26.10%.

Insider Activity

In other news, insider R David Schmaier sold 1,785 shares of the stock in a transaction that occurred on 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 directly owns 29,190 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Sundeep G. Reddy sold 436 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $144,874.08. Following the transaction, the chief accounting officer now owns 7,057 shares in the company, valued at approximately $2,344,899.96. This trade represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 45,660 shares of company stock valued at $14,095,336. Insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Morgan Stanley upped their price objective on Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Redburn Atlantic initiated coverage on Salesforce in a report on Wednesday, February 19th. They set a “buy” rating for the company. Jefferies Financial Group cut their price objective on Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a research report on Monday. Oppenheimer decreased their target price on shares of Salesforce from $415.00 to $380.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. Finally, DA Davidson dropped their price target on shares of Salesforce from $300.00 to $275.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the company. According to data from MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and an average price target of $361.42.

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.