Salesforce (NYSE:CRM) Trading Up 1.2%

Salesforce, Inc. (NYSE:CRM)’s stock price rose 1.2% during mid-day trading on Tuesday . The company traded as high as $272.46 and last traded at $267.44. Approximately 2,514,339 shares were traded during mid-day trading, a decline of 62% from the average daily volume of 6,550,994 shares. The stock had previously closed at $264.21.

Wall Street Analysts Forecast Growth

CRM has been the topic of several research analyst reports. Canaccord Genuity Group raised their target price on shares of Salesforce from $300.00 to $315.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Evercore ISI restated an “outperform” rating and set a $300.00 price objective on shares of Salesforce in a report on Monday, August 26th. UBS Group upped their price target on Salesforce from $250.00 to $275.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. FBN Securities upgraded shares of Salesforce to a “strong-buy” rating in a report on Thursday, August 29th. Finally, Wells Fargo & Company raised their price target on shares of Salesforce from $250.00 to $275.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 29th. Eight analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $307.73.

Salesforce Trading Up 1.6 %

The business’s 50-day moving average is $254.37 and its 200 day moving average is $265.91. The firm has a market capitalization of $260.10 billion, a P/E ratio of 48.10, a price-to-earnings-growth ratio of 2.26 and a beta of 1.29. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04.

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

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date of this dividend is Wednesday, September 18th. Salesforce’s dividend payout ratio is 28.78%.

Insider Buying and Selling at Salesforce

In related news, insider Parker Harris sold 5,600 shares of the firm’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $250.17, for a total transaction of $1,400,952.00. Following the sale, the insider now owns 116,693 shares of the company’s stock, valued at approximately $29,193,087.81. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Parker Harris sold 5,600 shares of the stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $250.17, for a total value of $1,400,952.00. Following the completion of the sale, the insider now directly owns 116,693 shares in the company, valued at $29,193,087.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider R David Schmaier sold 1,155 shares of Salesforce stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total value of $295,425.90. Following the transaction, the insider now directly owns 20,556 shares in the company, valued at $5,257,813.68. The disclosure for this sale can be found here. Insiders have sold 70,633 shares of company stock worth $18,100,349 over the last quarter. Corporate insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Salesforce

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in Salesforce by 1.2% during the first quarter. Vanguard Group Inc. now owns 84,635,254 shares of the CRM provider’s stock worth $25,490,446,000 after buying an additional 1,008,841 shares in the last quarter. Capital World Investors boosted its position in Salesforce by 2.4% in the fourth quarter. Capital World Investors now owns 19,561,325 shares of the CRM provider’s stock worth $5,147,402,000 after purchasing an additional 457,463 shares during the last quarter. Fisher Asset Management LLC raised its position in Salesforce by 5.2% in the fourth quarter. Fisher Asset Management LLC now owns 14,905,462 shares of the CRM provider’s stock worth $3,922,223,000 after acquiring an additional 736,986 shares during the period. Capital Research Global Investors increased its stake in shares of Salesforce by 26.9% during the 1st quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock worth $4,329,925,000 after purchasing an additional 3,044,611 shares during the last quarter. Finally, Capital International Investors raised its holdings in shares of Salesforce by 3.0% in the 1st quarter. Capital International Investors now owns 14,116,449 shares of the CRM provider’s stock worth $4,251,592,000 after purchasing an additional 407,834 shares during the period. 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.