Salesforce (NYSE:CRM) Stock Price Up 0.1%
Salesforce, Inc. (NYSE:CRM – Get Free Report) shares traded up 0.1% during mid-day trading on Friday . The company traded as high as $272.99 and last traded at $272.19. 959,974 shares traded hands during trading, a decline of 83% from the average session volume of 5,644,093 shares. The stock had previously closed at $271.92.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on the company. Piper Sandler reiterated a “neutral” rating and set a $300.00 price target on shares of Salesforce in a research report on Monday. BMO Capital Markets lifted their price target on Salesforce from $325.00 to $335.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. Wolfe Research reissued an “outperform” rating and set a $365.00 price objective on shares of Salesforce in a report on Tuesday. Oppenheimer raised their price objective on Salesforce from $300.00 to $325.00 and gave the company an “outperform” rating in a report on Monday, February 12th. Finally, TheStreet raised Salesforce from a “c+” rating to a “b-” rating in a report on Friday, January 19th. Nine analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $307.87.
Check Out Our Latest Stock Analysis on CRM
Salesforce Stock Down 0.6 %
The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The stock has a market capitalization of $262.26 billion, a PE ratio of 64.37, a PEG ratio of 2.13 and a beta of 1.28. The company has a 50 day moving average price of $297.70 and a 200-day moving average price of $260.97.
Salesforce (NYSE:CRM – Get Free Report) last posted its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.06. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The firm had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same period in the previous year, the firm earned $1.01 earnings per share. The business’s revenue was up 10.8% compared to the same quarter last year. As a group, analysts forecast that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.
Salesforce Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 14th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.60 annualized dividend and a dividend yield of 0.59%. Salesforce’s dividend payout ratio is presently 9.52%.
Insider Activity at Salesforce
In related news, CAO Sundeep G. Reddy sold 216 shares of Salesforce stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $278.71, for a total transaction of $60,201.36. Following the sale, the chief accounting officer now directly owns 2,869 shares in the company, valued at $799,618.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Salesforce news, COO Brian Millham sold 393 shares of the business’s stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $280.00, for a total value of $110,040.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Sundeep G. Reddy sold 216 shares of the business’s stock in a transaction on 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 sale, 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 628,184 shares of company stock worth $184,794,698 over the last ninety days. 3.70% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Salesforce
Several hedge funds have recently added to or reduced their stakes in CRM. Fairfield Bush & CO. boosted its holdings in Salesforce by 8.7% in the first quarter. Fairfield Bush & CO. now owns 4,468 shares of the CRM provider’s stock worth $949,000 after acquiring an additional 357 shares in the last quarter. Roundview Capital LLC boosted its holdings in Salesforce by 18.8% in the first quarter. Roundview Capital LLC now owns 24,037 shares of the CRM provider’s stock worth $5,104,000 after acquiring an additional 3,809 shares in the last quarter. Covestor Ltd boosted its holdings in Salesforce by 42.8% in the first quarter. Covestor Ltd now owns 621 shares of the CRM provider’s stock worth $132,000 after acquiring an additional 186 shares in the last quarter. Ergoteles LLC purchased a new position in shares of Salesforce in the first quarter worth $455,000. Finally, Mackenzie Financial Corp raised its stake in shares of Salesforce by 21.3% in the first quarter. Mackenzie Financial Corp now owns 860,950 shares of the CRM provider’s stock worth $182,797,000 after purchasing an additional 151,440 shares during the last quarter. 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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