Salesforce (NYSE:CRM) Stock Price Up 0.4% – What’s Next?

Salesforce, Inc. (NYSE:CRM)’s share price was up 0.4% during trading on Tuesday . The company traded as high as $269.31 and last traded at $269.41. Approximately 1,066,623 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 6,625,044 shares. The stock had previously closed at $268.36.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CRM. The Goldman Sachs Group increased their price objective on Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Redburn Atlantic started coverage on shares of Salesforce in a report on Wednesday, February 19th. They issued a “buy” rating for the company. Citigroup reaffirmed a “buy” rating on shares of Salesforce in a research report on Wednesday, March 19th. TD Cowen upgraded Salesforce from a “hold” rating to a “buy” rating and raised their target price for the company from $380.00 to $400.00 in a research note on Friday, January 17th. Finally, Wells Fargo & Company dropped their price target on Salesforce from $345.00 to $310.00 and set an “equal weight” rating on the stock 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 given a buy rating and five have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $361.42.

Salesforce Trading Up 0.7 %

The firm has a market capitalization of $261.45 billion, a P/E ratio of 44.75, a PEG ratio of 2.58 and a beta of 1.35. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock has a fifty day simple moving average of $305.91 and a 200 day simple moving average of $311.50.

Salesforce Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th will be issued a dividend of $0.42 per share. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date is Thursday, April 10th. Salesforce’s dividend payout ratio (DPR) is 26.10%.

Insider Transactions at Salesforce

In other news, CAO Sundeep G. Reddy sold 500 shares of Salesforce stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $335.94, for a total value of $167,970.00. Following the sale, the chief accounting officer now directly owns 6,557 shares of the company’s stock, valued at approximately $2,202,758.58. The trade was a 7.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $329.88, for a total transaction of $2,052,183.48. Following the sale, the chief financial officer now directly owns 45,861 shares in the company, valued at approximately $15,128,626.68. The trade was a 11.94 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 45,660 shares of company stock valued at $14,095,336. 3.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Salesforce

A number of institutional investors and hedge funds have recently modified their holdings of the business. Foundations Investment Advisors LLC grew its stake in Salesforce by 15.0% in the 4th quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock worth $12,194,000 after acquiring an additional 4,752 shares in the last quarter. Nabity Jensen Investment Management Inc purchased a new position in Salesforce during the 3rd quarter worth $1,215,000. Athena Investment Management purchased a new stake in shares of Salesforce in the 4th quarter worth $236,000. Highland Capital Management LLC bought a new position in shares of Salesforce during the 4th quarter worth $4,321,000. Finally, Geode Capital Management LLC lifted its stake in 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 period. 80.43% of the stock is owned by institutional investors.

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.