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

Salesforce, Inc. (NYSE:CRM) traded up 0.6% during trading on Tuesday . The company traded as high as $329.52 and last traded at $326.62. 1,590,078 shares traded hands during trading, a decline of 68% from the average session volume of 4,904,963 shares. The stock had previously closed at $324.56.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Guggenheim downgraded shares of Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 price objective for the company. in a report on Monday, January 6th. Canaccord Genuity Group raised their price target on shares of Salesforce from $315.00 to $415.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. The Goldman Sachs Group upped 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. DA Davidson boosted their target price on Salesforce from $250.00 to $300.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Finally, TD Cowen raised Salesforce from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $380.00 to $400.00 in a report on Friday. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have assigned a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $377.63.

Salesforce Stock Up 1.0 %

The company’s 50 day moving average price is $336.97 and its two-hundred day moving average price is $292.47. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock has a market cap of $313.79 billion, a P/E ratio of 53.93, a PEG ratio of 2.93 and a beta of 1.30.

Salesforce (NYSE:CRM) last issued its quarterly earnings results 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). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The business had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. During the same quarter in the prior year, the business earned $1.62 EPS. The company’s revenue was up 8.3% compared to the same quarter last year. Equities analysts forecast that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Dividend Announcement

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

Insider Activity

In other news, CFO Amy E. Weaver sold 897 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $255,905.13. Following the completion of the transaction, the chief financial officer now owns 52,930 shares in the company, valued at $15,100,399.70. This trade represents a 1.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 transaction, the chief accounting officer now owns 7,006 shares of the company’s stock, valued at $1,998,741.74. This represents a 5.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,173,477 shares of company stock worth $402,596,964 over the last ninety days. Corporate insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Salesforce

Several large investors have recently bought and sold shares of CRM. Infrastructure Capital Advisors LLC bought a new stake in shares of Salesforce in the 3rd quarter valued at approximately $27,000. Strategic Investment Solutions Inc. IL bought a new position in Salesforce during the second quarter valued at $33,000. Godsey & Gibb Inc. lifted its holdings in shares of Salesforce by 300.0% in the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 90 shares during the last quarter. Annapolis Financial Services LLC boosted its stake in shares of Salesforce by 135.6% during the 3rd 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, FSA Wealth Management LLC bought a new position in Salesforce during the 3rd quarter valued at about $53,000. 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.