Salesforce (NYSE:CRM) Stock Price Up 3.1% – Should You Buy?

Shares of Salesforce, Inc. (NYSE:CRM) traded up 3.1% during mid-day trading on Wednesday . The stock traded as high as $308.56 and last traded at $306.76. 1,649,603 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 6,238,636 shares. The stock had previously closed at $297.49.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CRM shares. Loop Capital reiterated a “hold” rating and set a $270.00 price objective on shares of Salesforce in a report on Thursday, September 19th. Roth Mkm reiterated a “buy” rating and issued a $335.00 price target on shares of Salesforce in a report on Thursday, August 29th. Piper Sandler cut shares of Salesforce from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 10th. Wells Fargo & Company increased their target price on shares of Salesforce from $250.00 to $275.00 and gave the stock an “equal weight” rating in a report on Thursday, August 29th. Finally, Phillip Securities restated an “accumulate” rating and set a $305.00 target price on shares of Salesforce in a report on Friday, August 30th. Nine research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $313.37.

Salesforce Trading Up 3.2 %

The firm has a market capitalization of $293.40 billion, a P/E ratio of 53.37, a price-to-earnings-growth ratio of 2.67 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 business’s 50-day moving average is $275.30 and its 200 day moving average is $263.86.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. The firm had revenue of $9.33 billion for the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.63 earnings per share. As a group, analysts anticipate that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were paid a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.52%. Salesforce’s payout ratio is currently 27.83%.

Insider Activity

In other news, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $117,824.77. Following the sale, the chief accounting officer now directly owns 7,006 shares in the company, valued at approximately $1,998,741.74. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total transaction of $117,824.77. Following the sale, the chief accounting officer now directly owns 7,006 shares in the company, valued at $1,998,741.74. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Brian Millham sold 60,522 shares of Salesforce stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $300.00, for a total transaction of $18,156,600.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 149,973 shares of company stock worth $42,672,142. Corporate insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Ruedi Wealth Management Inc. increased its stake in shares of Salesforce by 186.7% in the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock valued at $26,000 after acquiring an additional 56 shares in the last quarter. Piscataqua Savings Bank increased its stake in shares of Salesforce by 2,400.0% in the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after acquiring an additional 96 shares in the last quarter. Clear Investment Research LLC increased its stake in shares of Salesforce by 816.7% in the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after acquiring an additional 98 shares in the last quarter. Stephens Consulting LLC increased its stake in shares of Salesforce by 3,125.0% in the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 125 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL bought a new stake in shares of Salesforce in the 2nd quarter valued at $33,000. Institutional investors own 80.43% of the company’s stock.

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.