Salesforce (NYSE:CRM) Trading Up 0.4% – Time to Buy?

Shares of Salesforce, Inc. (NYSE:CRM) shot up 0.4% during trading on Tuesday . The company traded as high as $269.31 and last traded at $269.41. 1,066,623 shares changed hands during trading, a decline of 84% from the average session volume of 6,625,044 shares. The stock had previously closed at $268.36.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on CRM shares. Barclays raised their price target on shares of Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Wells Fargo & Company dropped their price target on Salesforce from $345.00 to $310.00 and set an “equal weight” rating for the company in a research report on Thursday, February 27th. The Goldman Sachs Group lifted their target price on shares of Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. KeyCorp upgraded shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 target price for the company in a research report on Friday, December 13th. Finally, Northland Securities restated an “outperform” rating and issued a $440.00 price target (up from $400.00) on shares of Salesforce in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $361.42.

Salesforce Stock Down 0.1 %

The stock has a market cap of $257.57 billion, a PE ratio of 44.09, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. 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 fifty day moving average of $308.26 and a 200 day moving average of $311.67.

Salesforce Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 0.63%. The ex-dividend date of this dividend is Thursday, April 10th. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s dividend payout ratio (DPR) is 26.10%.

Insider Activity at Salesforce

In related news, insider R David Schmaier sold 1,785 shares of the firm’s stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $288.34, for a total transaction of $514,686.90. Following the transaction, the insider now owns 29,190 shares in the company, valued at $8,416,644.60. This trade represents a 5.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $329.88, for a total value of $2,052,183.48. Following the completion of the sale, the chief financial officer now owns 45,861 shares of the company’s stock, valued at approximately $15,128,626.68. This represents a 11.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 45,660 shares of company stock valued at $14,095,336 over the last three months. 3.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Salesforce

A number of institutional investors have recently modified their holdings of the business. Nvest Financial LLC boosted its stake in shares of Salesforce by 1.1% during the fourth quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock worth $938,000 after buying an additional 31 shares during the period. OMC Financial Services LTD lifted its position in Salesforce by 0.3% during the 4th quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock worth $3,808,000 after acquiring an additional 31 shares during the period. Capital Advisors Ltd. LLC grew its stake in shares of Salesforce by 4.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock valued at $263,000 after purchasing an additional 31 shares during the last quarter. Sachetta LLC increased its holdings in shares of Salesforce by 0.3% in the fourth quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock valued at $3,684,000 after purchasing an additional 32 shares during the period. Finally, Prossimo Advisors LLC raised its stake in shares of Salesforce by 1.0% during the fourth quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock worth $1,125,000 after purchasing an additional 32 shares during the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

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.