Salesforce (NYSE:CRM) Upgraded at KeyCorp

KeyCorp upgraded shares of Salesforce (NYSE:CRM) from a sector weight rating to an overweight rating in a research report report published on Friday morning, Marketbeat.com reports. KeyCorp currently has $440.00 target price on the CRM provider’s stock.

Other equities analysts have also issued reports about the stock. Barclays boosted their price objective on shares of Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. UBS Group upped their price target on Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. FBN Securities upgraded Salesforce to a “strong-buy” rating in a report on Thursday, August 29th. The Goldman Sachs Group upped their target price on shares of Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, Citigroup lifted their price target on shares of Salesforce from $368.00 to $390.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Eight equities research 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $377.24.

Salesforce Stock Down 1.0 %

CRM stock opened at $354.31 on Friday. 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 business has a 50 day moving average of $317.48 and a 200 day moving average of $275.64. Salesforce has a twelve month low of $212.00 and a twelve month high of $369.00. The firm has a market cap of $339.07 billion, a PE ratio of 58.27, a price-to-earnings-growth ratio of 3.21 and a beta of 1.30.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.35 billion. During the same period in the prior year, the firm earned $1.62 EPS. Salesforce’s revenue for the quarter was up 8.3% compared to the same quarter last year. On average, research analysts forecast that Salesforce will post 7.48 EPS for the current fiscal year.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th will be given a dividend of $0.40 per share. The ex-dividend date is Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.45%. Salesforce’s payout ratio is 26.32%.

Insider Buying and Selling

In other Salesforce news, COO Brian Millham sold 14,808 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $338.95, for a total transaction of $5,019,171.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Miguel Milano sold 719 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $342.81, for a total value of $246,480.39. Following the completion of the transaction, the insider now directly owns 4,659 shares in the company, valued at $1,597,151.79. This trade represents a 13.37 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 138,498 shares of company stock worth $40,983,349. Corporate insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Infrastructure Capital Advisors LLC bought a new position in Salesforce in the third quarter worth about $27,000. Clear Investment Research LLC increased its stake in Salesforce by 816.7% during the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after purchasing an additional 98 shares in the last quarter. Godsey & Gibb Inc. grew its holdings in shares of Salesforce by 300.0% during the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after buying an additional 90 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in Salesforce during the 2nd quarter worth about $33,000. Finally, Stephens Consulting LLC raised its stake in shares of Salesforce by 3,125.0% in the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 125 shares during the last quarter. 80.43% of the stock is currently 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.