Salesforce (NYSE:CRM) Trading Down 0.6%

Salesforce, Inc. (NYSE:CRM) shares were down 0.6% during trading on Monday . The stock traded as low as $264.78 and last traded at $265.25. Approximately 1,160,743 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 6,546,423 shares. The stock had previously closed at $266.80.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CRM shares. Roth Mkm restated a “buy” rating and set a $335.00 target price on shares of Salesforce in a report on Thursday, August 29th. BMO Capital Markets raised their target price on shares of Salesforce from $265.00 to $305.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Wedbush reaffirmed an “outperform” rating and issued a $315.00 target price on shares of Salesforce in a research note on Thursday, August 29th. Robert W. Baird raised their price target on shares of Salesforce from $295.00 to $315.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Finally, Bank of America restated a “buy” rating and issued a $325.00 price objective on shares of Salesforce in a research report on Friday, September 6th. Nine analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $306.00.

Salesforce Stock Down 1.0 %

The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. The company has a 50-day simple moving average of $254.14 and a 200-day simple moving average of $266.18. The firm has a market cap of $255.89 billion, a PE ratio of 47.71, a price-to-earnings-growth ratio of 2.26 and a beta of 1.29.

Salesforce (NYSE:CRM) last released its earnings results 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. The business had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The business’s revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.63 earnings per share. Analysts expect that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.61%. Salesforce’s dividend payout ratio is currently 28.78%.

Insider Transactions at Salesforce

In related news, insider Parker Harris sold 2,800 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $241.22, for a total value of $675,416.00. Following the transaction, the insider now owns 117,581 shares of the company’s stock, valued at $28,362,888.82. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Parker Harris sold 2,800 shares of Salesforce stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $241.22, for a total transaction of $675,416.00. Following the completion of the sale, the insider now directly owns 117,581 shares in the company, valued at $28,362,888.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Sabastian Niles sold 2,484 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $244.81, for a total value of $608,108.04. Following the completion of the transaction, the insider now owns 828 shares of the company’s stock, valued at $202,702.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 63,891 shares of company stock valued at $16,306,944. 3.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Salesforce

Hedge funds have recently added to or reduced their stakes in the business. Spartan Planning & Wealth Management lifted its holdings in Salesforce by 66.3% in 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 period. Parnassus Investments LLC grew its position in Salesforce by 0.3% during the fourth quarter. Parnassus Investments LLC now owns 5,951,415 shares of the CRM provider’s stock valued at $1,566,055,000 after buying an additional 18,397 shares during the period. TD Asset Management Inc raised its position in shares of Salesforce by 32.6% in the fourth quarter. TD Asset Management Inc now owns 789,525 shares of the CRM provider’s stock worth $207,756,000 after acquiring an additional 194,224 shares during the period. Chicago Partners Investment Group LLC boosted its stake in shares of Salesforce by 1.3% during the 4th quarter. Chicago Partners Investment Group LLC now owns 7,160 shares of the CRM provider’s stock worth $1,983,000 after acquiring an additional 95 shares in the last quarter. Finally, XN LP grew its position in shares of Salesforce by 24.2% during the 2nd quarter. XN LP now owns 464,489 shares of the CRM provider’s stock valued at $119,420,000 after acquiring an additional 90,616 shares during the period. 80.43% of the stock is owned by hedge funds and other 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.