Salesforce (NYSE:CRM) Shares Up 0.6% – Here’s Why

Salesforce, Inc. (NYSE:CRM) rose 0.6% during trading on Thursday . The stock traded as high as $343.53 and last traded at $339.12. Approximately 1,947,464 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 6,394,578 shares. The stock had previously closed at $337.23.

Analysts Set New Price Targets

CRM has been the subject of a number of research reports. Sanford C. Bernstein lifted their price objective on Salesforce from $234.00 to $236.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. UBS Group boosted their price target on shares of Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Phillip Securities reaffirmed an “accumulate” rating and issued a $305.00 price objective on shares of Salesforce in a research note on Friday, August 30th. Morgan Stanley upped their target price on shares of Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Finally, DA Davidson upped their price objective on Salesforce from $250.00 to $300.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Eight analysts have rated the stock with a hold rating, thirty have given a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $378.86.

Salesforce Stock Performance

The stock has a 50 day moving average of $321.11 and a 200 day moving average of $277.86. 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 firm has a market cap of $323.46 billion, a price-to-earnings ratio of 55.59, a P/E/G ratio of 3.21 and a beta of 1.30.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.03). The business had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period last year, the business earned $1.62 earnings per share. As a group, analysts anticipate that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 18th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.47%. The ex-dividend date is Wednesday, December 18th. Salesforce’s payout ratio is 26.32%.

Insiders Place Their Bets

In other Salesforce news, COO Brian Millham sold 60,522 shares of the company’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $300.00, for a total value of $18,156,600.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Miguel Milano sold 719 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $342.81, for a total value of $246,480.39. Following the completion of the sale, the insider now directly owns 4,659 shares of the company’s stock, valued at approximately $1,597,151.79. The trade was a 13.37 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 134,298 shares of company stock valued at $39,903,781. 3.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Infrastructure Capital Advisors LLC acquired a new stake in Salesforce during the third quarter worth approximately $27,000. Clear Investment Research LLC lifted its position in shares of Salesforce by 816.7% during 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 during the period. Stephens Consulting LLC grew its holdings 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 purchasing an additional 125 shares during the period. Strategic Investment Solutions Inc. IL bought a new stake in Salesforce in the second quarter valued at $33,000. Finally, Godsey & Gibb Inc. grew its stake in shares of Salesforce by 300.0% in the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after buying an additional 90 shares during the period. 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.