Salesforce (NYSE:CRM) Shares Up 1.4% – Should You Buy?

Salesforce, Inc. (NYSE:CRM) rose 1.4% during trading on Thursday . The company traded as high as $325.89 and last traded at $325.51. Approximately 995,132 shares were traded during trading, a decline of 79% from the average daily volume of 4,699,344 shares. The stock had previously closed at $321.16.

Analysts Set New Price Targets

CRM has been the topic of a number of recent research reports. Loop Capital increased their price target on shares of Salesforce from $340.00 to $360.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. Canaccord Genuity Group raised their target price on shares of Salesforce from $315.00 to $415.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Wedbush restated an “outperform” rating and issued a $425.00 target price on shares of Salesforce in a report on Wednesday, December 18th. Needham & Company LLC raised their target price on shares of Salesforce from $375.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Finally, Robert W. Baird raised their target price on shares of Salesforce from $340.00 to $430.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have given a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $377.63.

Salesforce Trading Up 1.5 %

The firm’s 50 day moving average price is $337.25 and its 200-day moving average price is $291.08. The stock has a market cap of $310.81 billion, a P/E ratio of 53.42, a P/E/G ratio of 2.87 and a beta of 1.30. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

Salesforce (NYSE:CRM) last issued its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. During the same quarter in the prior year, the company posted $1.62 EPS. The company’s quarterly revenue was up 8.3% on a year-over-year basis. As a group, equities research analysts forecast that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were issued a dividend of $0.40 per share. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.49%. Salesforce’s payout ratio is 26.32%.

Insider Activity

In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of the company’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 transaction of $117,824.77. Following the completion of the sale, the chief accounting officer now directly owns 7,006 shares of the company’s stock, valued at approximately $1,998,741.74. This represents a 5.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $288.82, for a total transaction of $1,213,044.00. Following the sale, the insider now directly owns 118,514 shares of the company’s stock, valued at approximately $34,229,213.48. This represents a 3.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,183,838 shares of company stock valued at $405,595,158 over the last three months. Insiders own 3.20% of the company’s stock.

Institutional Trading of Salesforce

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Infrastructure Capital Advisors LLC bought a new position in shares of Salesforce in the third quarter worth approximately $27,000. Godsey & Gibb Inc. boosted its position in shares of Salesforce by 300.0% in the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 90 shares during the period. Strategic Investment Solutions Inc. IL bought a new position in shares of Salesforce in the second quarter worth approximately $33,000. Annapolis Financial Services LLC boosted its position in shares of Salesforce by 135.6% in the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock worth $38,000 after purchasing an additional 80 shares during the period. Finally, Friedenthal Financial bought a new position in shares of Salesforce in the fourth quarter worth approximately $55,000. 80.43% of the stock is owned by hedge funds and other 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.