Salesforce (NYSE:CRM) Trading Up 0.7%
Salesforce, Inc. (NYSE:CRM – Get Free Report) rose 0.7% during trading on Tuesday . The stock traded as high as $277.06 and last traded at $274.84. Approximately 2,353,522 shares were traded during mid-day trading, a decline of 58% from the average daily volume of 5,652,357 shares. The stock had previously closed at $272.90.
Analyst Ratings Changes
CRM has been the subject of a number of recent research reports. Wolfe Research reiterated an “outperform” rating and set a $365.00 price objective on shares of Salesforce in a research note on Tuesday. JPMorgan Chase & Co. upped their target price on Salesforce from $260.00 to $310.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. Evercore ISI raised their price target on Salesforce from $290.00 to $330.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. KeyCorp assumed coverage on shares of Salesforce in a research report on Thursday, March 21st. They issued a “sector weight” rating on the stock. Finally, Robert W. Baird boosted their target price on shares of Salesforce from $310.00 to $355.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $307.87.
View Our Latest Stock Analysis on CRM
Salesforce Trading Up 2.7 %
The company’s 50-day moving average is $298.52 and its 200 day moving average is $260.26. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The firm has a market cap of $271.86 billion, a PE ratio of 65.44, a P/E/G ratio of 2.26 and a beta of 1.28.
Salesforce (NYSE:CRM – Get Free Report) last released its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.06. The company had revenue of $9.29 billion during the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.01 earnings per share. As a group, sell-side analysts predict that Salesforce, Inc. will post 7.45 EPS for the current year.
Salesforce Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were given a dividend of $0.40 per share. The ex-dividend date was Wednesday, March 13th. This represents a $1.60 dividend on an annualized basis and a yield of 0.57%. Salesforce’s payout ratio is presently 9.52%.
Insider Buying and Selling at Salesforce
In related news, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $315.54, for a total transaction of $4,733,100.00. Following the transaction, the chief executive officer now directly owns 13,311,166 shares of the company’s stock, valued at $4,200,205,319.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $315.54, for a total value of $4,733,100.00. Following the transaction, the chief executive officer now owns 13,311,166 shares in the company, valued at $4,200,205,319.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Sundeep G. Reddy sold 216 shares of the company’s stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $278.71, for a total value of $60,201.36. Following the completion of the transaction, the chief accounting officer now directly owns 2,869 shares in the company, valued at $799,618.99. The disclosure for this sale can be found here. Insiders have sold a total of 897,375 shares of company stock valued at $260,206,096 in the last 90 days. 3.70% of the stock is currently owned by corporate insiders.
Institutional Trading of Salesforce
Several large investors have recently added to or reduced their stakes in CRM. Bear Mountain Capital Inc. acquired a new stake in shares of Salesforce in the 4th quarter valued at $26,000. Signature Resources Capital Management LLC acquired a new stake in shares of Salesforce in the fourth quarter worth about $26,000. Aspect Partners LLC bought a new stake in shares of Salesforce during the 4th quarter worth about $29,000. Kathleen S. Wright Associates Inc. acquired a new position in shares of Salesforce during the 4th quarter valued at about $31,000. Finally, Main Street Group LTD acquired a new position in shares of Salesforce during the 4th quarter valued at about $31,000. 80.43% of the stock is owned by institutional investors.
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.
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