Salesforce (NYSE:CRM) Downgraded by Guggenheim to Sell

Guggenheim downgraded shares of Salesforce (NYSE:CRM) from a neutral rating to a sell rating in a report issued on Monday, MarketBeat reports. They currently have $247.00 price target on the CRM provider’s stock.

Other research analysts have also issued reports about the stock. JPMorgan Chase & Co. lifted their price objective on shares of Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Macquarie reiterated a “neutral” rating and issued a $370.00 price target on shares of Salesforce in a research report on Wednesday, December 18th. Morgan Stanley increased their price objective on Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. BMO Capital Markets lifted their target price on Salesforce from $385.00 to $425.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Finally, Robert W. Baird increased their price target on shares of Salesforce from $340.00 to $430.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, thirty have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and an average price target of $375.39.

Salesforce Price Performance

Shares of NYSE CRM opened at $329.82 on Monday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock has a fifty day simple moving average of $333.53 and a two-hundred day simple moving average of $287.43. Salesforce has a 1-year low of $212.00 and a 1-year high of $369.00. The firm has a market cap of $315.64 billion, a price-to-earnings ratio of 54.25, a price-to-earnings-growth ratio of 3.21 and a beta of 1.30.

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

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 18th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.49%. Salesforce’s dividend payout ratio is currently 26.32%.

Insider Buying and Selling at Salesforce

In related news, CFO Amy E. Weaver sold 897 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $255,905.13. Following the completion of the sale, the chief financial officer now owns 52,930 shares of the company’s stock, valued at $15,100,399.70. This trade represents a 1.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total transaction of $117,824.77. Following the completion of the sale, the chief accounting officer now owns 7,006 shares in the company, valued at approximately $1,998,741.74. This trade represents a 5.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,181,817 shares of company stock valued at $404,760,429 in the last quarter. Company insiders own 3.20% of the company’s stock.

Institutional Trading of Salesforce

Institutional investors and hedge funds have recently bought and sold shares of the stock. Canandaigua National Bank & Trust Co. grew its holdings in shares of Salesforce by 3.1% during the 4th quarter. Canandaigua National Bank & Trust Co. now owns 11,332 shares of the CRM provider’s stock worth $3,789,000 after acquiring an additional 344 shares during the period. Capital Market Strategies LLC bought a new stake in shares of Salesforce during the fourth quarter valued at approximately $230,000. Neville Rodie & Shaw Inc. grew its stake in Salesforce by 4.2% in the fourth quarter. Neville Rodie & Shaw Inc. now owns 53,311 shares of the CRM provider’s stock worth $17,823,000 after purchasing an additional 2,160 shares during the period. CWA Asset Management Group LLC raised its holdings in Salesforce by 14.1% in the fourth quarter. CWA Asset Management Group LLC now owns 15,708 shares of the CRM provider’s stock worth $5,252,000 after purchasing an additional 1,936 shares in the last quarter. Finally, Nordea Investment Management AB lifted its position in Salesforce by 11.9% during the fourth quarter. Nordea Investment Management AB now owns 2,288,803 shares of the CRM provider’s stock valued at $766,566,000 after buying an additional 243,008 shares during the period. 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.