Salesforce (NYSE:CRM) Trading 0.1% Higher – What’s Next?

Salesforce, Inc. (NYSE:CRM)’s stock price traded up 0.1% during trading on Friday . The company traded as high as $338.65 and last traded at $335.06. 866,515 shares were traded during mid-day trading, a decline of 83% from the average session volume of 5,091,530 shares. The stock had previously closed at $334.66.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. DA Davidson raised their price objective on shares of Salesforce from $250.00 to $300.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Stifel Nicolaus boosted their price target on Salesforce from $390.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Canaccord Genuity Group boosted their price target on Salesforce from $315.00 to $415.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. The Goldman Sachs Group boosted their price target on Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, UBS Group boosted their price target on Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have issued a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and an average target price of $377.63.

Salesforce Trading Up 0.1 %

The business’s 50-day moving average is $336.56 and its two-hundred day moving average is $293.49. 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 market capitalization of $320.59 billion, a PE ratio of 55.14, a PEG ratio of 3.01 and a beta of 1.30.

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

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were given a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.48%. Salesforce’s payout ratio is currently 26.32%.

Insider Buying and Selling at Salesforce

In other news, insider Miguel Milano sold 719 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $342.81, for a total transaction of $246,480.39. Following the transaction, the insider now owns 4,659 shares of the company’s stock, valued at approximately $1,597,151.79. This trade represents a 13.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Parker Harris sold 4,200 shares of the stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $298.04, for a total transaction of $1,251,768.00. Following the transaction, the insider now directly owns 119,402 shares in the company, valued at $35,586,572.08. The trade was a 3.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,173,891 shares of company stock valued at $402,840,388 in the last ninety days. Insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Salesforce

Institutional investors and hedge funds have recently bought and sold shares of the business. Nabity Jensen Investment Management Inc acquired a new stake in Salesforce during the third quarter worth about $1,215,000. Prime Capital Investment Advisors LLC raised its stake in Salesforce by 13.6% during the third quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock worth $15,885,000 after acquiring an additional 6,938 shares during the period. Aljian Capital Management LLC raised its stake in Salesforce by 16.1% during the third quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock worth $3,629,000 after acquiring an additional 1,834 shares during the period. AIA Group Ltd raised its stake in Salesforce by 8.9% during the third quarter. AIA Group Ltd now owns 24,028 shares of the CRM provider’s stock worth $6,577,000 after acquiring an additional 1,962 shares during the period. Finally, Geode Capital Management LLC raised its stake in Salesforce by 1.3% during the third quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock worth $5,395,132,000 after acquiring an additional 257,501 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

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.