Salesforce (NYSE:CRM) Stock Price Up 0.3%

Salesforce, Inc. (NYSE:CRM) shot up 0.3% during mid-day trading on Monday . The stock traded as high as $257.76 and last traded at $255.26. 1,107,851 shares traded hands during trading, a decline of 83% from the average session volume of 6,518,144 shares. The stock had previously closed at $254.57.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CRM shares. Phillip Securities reissued an “accumulate” rating and issued a $305.00 price objective on shares of Salesforce in a research report on Friday, August 30th. Roth Mkm reiterated a “buy” rating and set a $335.00 price target on shares of Salesforce in a report on Thursday, August 29th. Barclays cut their price objective on Salesforce from $355.00 to $305.00 and set an “overweight” rating for the company in a research report on Thursday, May 30th. TD Cowen boosted their target price on Salesforce from $285.00 to $290.00 and gave the stock a “hold” rating in a report on Thursday, August 29th. Finally, Stifel Nicolaus raised their price target on Salesforce from $300.00 to $320.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Nine investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $305.55.

Salesforce Stock Up 1.1 %

The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $249.47 billion, a PE ratio of 45.91, a P/E/G ratio of 2.26 and a beta of 1.29. The stock’s fifty day simple moving average is $253.56 and its 200-day simple moving average is $267.91.

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

Salesforce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th will be given a $0.40 dividend. The ex-dividend date is Wednesday, September 18th. This represents a $1.60 annualized dividend and a yield of 0.62%. Salesforce’s dividend payout ratio is currently 28.78%.

Insider Activity

In other news, Director Oscar Munoz acquired 2,051 shares of the business’s stock in a transaction dated Friday, June 21st. The stock was purchased at an average cost of $243.69 per share, for a total transaction of $499,808.19. Following the acquisition, the director now owns 7,026 shares of the company’s stock, valued at $1,712,165.94. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Salesforce news, Director Oscar Munoz bought 2,051 shares of Salesforce stock in a transaction that occurred on Friday, June 21st. The shares were bought at an average price of $243.69 per share, with a total value of $499,808.19. Following the acquisition, the director now owns 7,026 shares in the company, valued at $1,712,165.94. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Amy E. Weaver sold 897 shares of Salesforce stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total transaction of $229,434.66. Following the completion of the transaction, the chief financial officer now owns 51,109 shares in the company, valued at approximately $13,072,660.02. The disclosure for this sale can be found here. Insiders sold a total of 62,376 shares of company stock valued at $15,878,005 in the last ninety days. 3.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Salesforce

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Spartan Planning & Wealth Management raised its stake in shares of Salesforce by 66.3% during the fourth quarter. Spartan Planning & Wealth Management now owns 1,567 shares of the CRM provider’s stock valued at $412,000 after acquiring an additional 625 shares during the last quarter. Parnassus Investments LLC raised its position in Salesforce by 0.3% during the 4th quarter. Parnassus Investments LLC now owns 5,951,415 shares of the CRM provider’s stock valued at $1,566,055,000 after purchasing an additional 18,397 shares during the last quarter. TD Asset Management Inc lifted its holdings in Salesforce by 32.6% in the 4th quarter. TD Asset Management Inc now owns 789,525 shares of the CRM provider’s stock worth $207,756,000 after buying an additional 194,224 shares during the period. Chicago Partners Investment Group LLC grew its position in shares of Salesforce by 1.3% in the 4th quarter. Chicago Partners Investment Group LLC now owns 7,160 shares of the CRM provider’s stock worth $1,983,000 after buying an additional 95 shares during the last quarter. Finally, M&G Plc purchased a new position in shares of Salesforce during the first quarter valued at approximately $2,178,000. 80.43% of the stock is currently owned by 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.