Massachusetts Financial Services Co. MA Has $2.20 Billion Stake in Salesforce, Inc. (NYSE:CRM)

Massachusetts Financial Services Co. MA lifted its holdings in Salesforce, Inc. (NYSE:CRM) by 10.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,593,295 shares of the CRM provider’s stock after acquiring an additional 628,593 shares during the quarter. Salesforce makes up approximately 0.7% of Massachusetts Financial Services Co. MA’s holdings, making the stock its 27th largest holding. Massachusetts Financial Services Co. MA’s holdings in Salesforce were worth $2,204,336,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Foundations Investment Advisors LLC boosted its stake in Salesforce by 15.0% in the fourth quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock worth $12,194,000 after purchasing an additional 4,752 shares in the last quarter. Nabity Jensen Investment Management Inc acquired a new position in Salesforce during the 3rd quarter worth about $1,215,000. Athena Investment Management acquired a new position in Salesforce during the 4th quarter worth about $236,000. Highland Capital Management LLC acquired a new stake in Salesforce in the 4th quarter valued at about $4,321,000. Finally, Geode Capital Management LLC raised its stake in shares of Salesforce by 1.3% in the third 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 last quarter. 80.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CRM. Wells Fargo & Company decreased their price target on shares of Salesforce from $345.00 to $310.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 27th. Royal Bank of Canada increased their price objective on Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Barclays boosted their target price on Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Oppenheimer decreased their price target on Salesforce from $415.00 to $380.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. Finally, Stifel Nicolaus dropped their price objective on Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $361.42.

Insider Activity

In related news, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $329.88, for a total value of $2,052,183.48. Following the completion of the transaction, the chief financial officer now owns 45,861 shares of the company’s stock, valued at approximately $15,128,626.68. This trade represents a 11.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Sundeep G. Reddy sold 436 shares of the business’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $144,874.08. Following the sale, the chief accounting officer now directly owns 7,057 shares in the company, valued at $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. Insiders have sold 45,660 shares of company stock worth $14,095,336 over the last ninety days. Insiders own 3.20% of the company’s stock.

Salesforce Stock Up 0.7 %

CRM stock opened at $270.18 on Wednesday. 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 stock has a market capitalization of $259.64 billion, a P/E ratio of 44.44, a P/E/G ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The business has a 50-day moving average of $307.13 and a 200-day moving average of $311.78.

Salesforce Increases Dividend

The company also recently declared 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. The ex-dividend date of this dividend 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 dividend 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.