Salesforce (NYSE:CRM) Trades 1.2% Higher

Shares of Salesforce, Inc. (NYSE:CRM ​​- Get a free report) rose 1.2% on Tuesday. The stock traded as high as $272.46 and last traded at $267.44. About 2,514,339 shares traded hands during mid-day trading, down 62% from the average daily volume of 6,550,994 shares. Shares previously closed at $264.21.

Changes in Analyst Ratings

Several equities research analysts have issued reports on CRM shares. FBN Securities upgraded Salesforce to a “strong-buy” rating in a research report on Thursday, August 29th. TD Cowen boosted their price target on Salesforce from $285.00 to $290.00 and gave the company a “hold” rating in a report on Thursday, August 29th. Royal Bank of Canada reissued an “outperform” rating and issued a $300.00 price target on shares of Salesforce in a report on Thursday, September 19th. Stifel Nicolaus boosted their price objective on shares of Salesforce from $300.00 to $320.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Finally, JPMorgan Chase & Co. upped their target price on shares of Salesforce from $300.00 to $310.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Eight equities research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and three have given a strong buy rating to the company. Salesforce currently has a consensus rating of “Moderate Buy” and a consensus price target of $307.73, based on data from MarketBeat.

Get the latest report on Salesforce

Salesforce Price Performance

The firm has a market cap of $260.10 billion, a PE ratio of 48.10, a PEG ratio of 2.26 and a beta of 1.29. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04, and a quick ratio of 1.04. The firm has a 50-day simple moving average of $254.37 and a 200-day simple moving average of $265.91.

Salesforce (NYSE:CRM ​​- Get Your Free Report ) last announced its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The company had revenue of $9.33 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same period last year, the firm earned $1.63 EPS. Salesforce’s revenue for the quarter was up 8.5% compared to the same quarter last year. As a group, equities analysts estimate that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th will be given a dividend of $0.40 per share. This represents a dividend of $1.60 on an annualized basis and a yield of 0.60%. The ex-dividend date is Wednesday, September 18. Salesforce’s payout ratio is 28.78%.

Insider buying and selling

In other news, insider Parker Harris sold 942 shares of Salesforce stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $264.78, for a total transaction of $249,422.76. Following the completion of the sale, the insider now directly owns 118,514 shares in the company, valued at $31,380,136.92. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC’s website. In related news, CFO Amy E. Weaver sold 897 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total transaction of $229,434.66. Following the sale, the chief financial officer now owns 51,109 shares of the company’s stock, valued at $13,072,660.02. The sale was disclosed in a filing with the SEC, which is available on the SEC’s website. Also, insider Parker Harris sold 942 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $264.78, for a total transaction of $249,422.76. Following the completion of the sale, the insider now owns 118,514 shares in the company, valued at $31,380,136.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 70,633 shares of company stock worth $18,100,349. 3.20% of shares are owned by corporate insiders.

Hedge funds influence Salesforce

A number of large investors have recently made changes to their positions in the business. Ruedi Wealth Management Inc. grew its position in Salesforce by 186.7% in the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 56 shares in the last quarter. Piscataqua Savings Bank boosted its stake in Salesforce by 2,400.0% in the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 96 shares in the last quarter. Clear Investment Research LLC boosted its stake in Salesforce by 816.7% in the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after purchasing an additional 98 shares during the period. Red Tortoise LLC purchased a new stake in shares of Salesforce in the 1st quarter valued at $33,000. Finally, Stephens Consulting LLC boosted its stake in Salesforce by 3,125.0% in the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 125 shares during the last quarter. 80.43% of shares are owned by institutional investors and hedge funds.

Salesforce Company Profile

(Get a free report)

Salesforce, Inc provides Customer Relationship Management (CRM) technology that brings companies and customers together around the world. The company’s services include sales for data storage, lead and progress tracking, opportunity forecasting, analytics and artificial intelligence insights, and delivery of quotes, contracts and invoices; and services that enable companies to deliver reliable and highly personalized customer support at scale.

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