Salesforce (NYSE:CRM) Stock Price Up 0.4% – What’s Next?

Salesforce, Inc. (NYSE:CRM)’s share price rose 0.4% during trading on Friday . The stock traded as high as $292.72 and last traded at $292.14. Approximately 708,540 shares traded hands during trading, a decline of 89% from the average daily volume of 6,402,033 shares. The stock had previously closed at $291.11.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. FBN Securities upgraded Salesforce to a “strong-buy” rating in a report on Thursday, August 29th. Phillip Securities reiterated an “accumulate” rating and issued a $305.00 target price on shares of Salesforce in a research note on Friday, August 30th. Evercore ISI reaffirmed an “outperform” rating and issued a $300.00 price target on shares of Salesforce in a report on Monday, August 26th. Northland Securities upgraded Salesforce from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $270.00 to $400.00 in a research note on Wednesday, October 2nd. Finally, Roth Mkm reissued a “buy” rating and issued a $335.00 price objective on shares of Salesforce in a report on Thursday, August 29th. Nine research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $310.74.

Salesforce Trading Up 0.8 %

The stock has a market cap of $284.32 billion, a PE ratio of 52.54, a PEG ratio of 2.61 and a beta of 1.30. The stock has a fifty day moving average price of $265.84 and a 200 day moving average price of $263.84. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The company had revenue of $9.33 billion during the quarter, compared to analyst estimates of $9.22 billion. During the same period in the prior year, the firm earned $1.63 earnings per share. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. Equities analysts expect that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s dividend payout ratio is presently 28.78%.

Insiders Place Their Bets

In related news, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $289.87, for a total value of $1,217,454.00. Following the transaction, the insider now directly owns 118,514 shares of the company’s stock, valued at approximately $34,353,653.18. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $289.87, for a total value of $1,217,454.00. Following the completion of the transaction, the insider now owns 118,514 shares in the company, valued at approximately $34,353,653.18. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Brian Millham sold 8,427 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $280.00, for a total value of $2,359,560.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 80,612 shares of company stock valued at $21,429,961. 3.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Ruedi Wealth Management Inc. boosted its position in shares of Salesforce by 186.7% in the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after acquiring an additional 56 shares during the last quarter. Piscataqua Savings Bank increased its stake in shares of Salesforce by 2,400.0% in the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after buying an additional 96 shares during the last quarter. Clear Investment Research LLC increased its position in shares of Salesforce by 816.7% in the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after purchasing an additional 98 shares during the last quarter. Red Tortoise LLC bought a new position in shares of Salesforce during the first quarter worth about $33,000. Finally, Stephens Consulting LLC lifted its holdings in Salesforce by 3,125.0% during the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after buying an additional 125 shares during the last quarter. Institutional investors and hedge funds 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.