Salesforce (NYSE:CRM) Receives “Market Outperform” Rating from JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of Salesforce (NYSE:CRM) in a research note published on Wednesday,Benzinga reports. The brokerage currently has a $450.00 price target on the CRM provider’s stock.

Other analysts also recently issued research reports about the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $375.00 target price on shares of Salesforce in a research report on Wednesday. Sanford C. Bernstein raised their target price on shares of Salesforce from $234.00 to $236.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. JPMorgan Chase & Co. boosted their price target on Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Jefferies Financial Group lifted their price objective on shares of Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, BNP Paribas raised shares of Salesforce to a “strong-buy” rating in a report on Thursday, August 29th. 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’s stock. According to MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and a consensus target price of $378.86.

Salesforce Stock Up 0.1 %

NYSE CRM traded up $0.26 during trading on Wednesday, hitting $337.49. The stock had a trading volume of 1,178,600 shares, compared to its average volume of 6,391,005. Salesforce has a 12 month low of $212.00 and a 12 month high of $369.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The company’s 50-day moving average price is $321.11 and its two-hundred day moving average price is $277.86. The company has a market capitalization of $322.98 billion, a PE ratio of 55.51, a P/E/G ratio of 3.21 and a beta of 1.30.

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

Salesforce Announces Dividend

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

Insider Buying and Selling at Salesforce

In related news, insider Parker Harris sold 942 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $264.78, for a total value of $249,422.76. Following the transaction, the insider now directly owns 118,514 shares in the company, valued at $31,380,136.92. This trade represents a 0.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Brian Millham sold 5,735 shares of Salesforce stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $266.22, for a total transaction of $1,526,771.70. Following the transaction, the chief operating officer now owns 1,663 shares of the company’s stock, valued at $442,723.86. This represents a 77.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 134,298 shares of company stock valued at $39,903,781. 3.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Salesforce

Hedge funds have recently added to or reduced their stakes in the stock. 1620 Investment Advisors Inc. bought a new stake in shares of Salesforce in the 2nd quarter worth $41,000. Geneos Wealth Management Inc. lifted its position in shares of Salesforce by 4.0% during the second quarter. Geneos Wealth Management Inc. now owns 11,830 shares of the CRM provider’s stock valued at $3,041,000 after purchasing an additional 450 shares in the last quarter. &PARTNERS boosted its holdings in Salesforce by 165.2% during the second quarter. &PARTNERS now owns 11,483 shares of the CRM provider’s stock worth $2,954,000 after purchasing an additional 7,153 shares during the last quarter. JB Capital LLC increased its stake in Salesforce by 18.8% in the 2nd quarter. JB Capital LLC now owns 2,531 shares of the CRM provider’s stock valued at $651,000 after buying an additional 400 shares during the last quarter. Finally, Diversified LLC increased its stake in Salesforce by 33.7% in the 2nd quarter. Diversified LLC now owns 904 shares of the CRM provider’s stock valued at $232,000 after buying an additional 228 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

About Salesforce

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.