Salesforce, Inc. (NYSE:CRM) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Salesforce, Inc. (NYSE:CRM) have been given an average rating of “Moderate Buy” by the thirty-eight research firms that are covering the company, MarketBeat.com reports. Nine analysts have rated the stock with a hold rating, twenty-five have given a buy rating and four have assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $313.37.

A number of brokerages have recently issued reports on CRM. BMO Capital Markets lifted their price target on Salesforce from $265.00 to $305.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Erste Group Bank reiterated a “hold” rating on shares of Salesforce in a research note on Wednesday, September 11th. UBS Group increased their price target on shares of Salesforce from $250.00 to $275.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Cfra set a $343.00 price objective on shares of Salesforce in a research report on Thursday, October 17th. Finally, Robert W. Baird increased their target price on shares of Salesforce from $295.00 to $315.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th.

Insider Buying and Selling

In other Salesforce news, CFO Amy E. Weaver sold 897 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 value of $255,905.13. Following the completion of the transaction, the chief financial officer now owns 52,930 shares of the company’s stock, valued at approximately $15,100,399.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Salesforce news, CFO Amy E. Weaver sold 897 shares of the firm’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 52,930 shares of the company’s stock, valued at approximately $15,100,399.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Parker Harris sold 3,970 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $296.74, for a total value of $1,178,057.80. Following the completion of the sale, the insider now owns 119,402 shares of the company’s stock, valued at $35,431,349.48. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 148,573 shares of company stock valued at $42,319,874. Corporate insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Salesforce

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CRM. Piscataqua Savings Bank boosted its holdings in Salesforce by 2,400.0% in the 2nd 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 boosted its stake in shares of Salesforce by 816.7% in the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after acquiring an additional 98 shares during the last quarter. Stephens Consulting LLC increased its position in shares of Salesforce by 3,125.0% during 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 in the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in Salesforce in the 2nd quarter valued at $33,000. Finally, Godsey & Gibb Inc. lifted its holdings in Salesforce by 300.0% in the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 90 shares in the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Stock Up 3.6 %

NYSE:CRM opened at $321.87 on Friday. 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 firm has a market cap of $307.71 billion, a PE ratio of 55.98, a price-to-earnings-growth ratio of 2.70 and a beta of 1.29. The company has a 50-day moving average of $277.76 and a 200 day moving average of $264.52. Salesforce has a 1-year low of $208.84 and a 1-year high of $322.81.

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

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.50%. The ex-dividend date was Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is 27.83%.

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.