Salesforce (NYSE:CRM) Given New $305.00 Price Target at BMO Capital Markets

Salesforce (NYSE:CRM) had its price target upped by BMO Capital Markets from $265.00 to $305.00 in a research note released on Thursday, Marketbeat.com reports. The brokerage currently has an outperform rating on the CRM provider’s stock.

Several other research firms have also issued reports on CRM. Royal Bank of Canada reaffirmed an outperform rating and issued a $350.00 price target on shares of Salesforce in a research report on Friday, May 24th. Sanford C. Bernstein boosted their target price on shares of Salesforce from $231.00 to $234.00 and gave the company an underperform rating in a research note on Thursday, May 30th. UBS Group dropped their price target on Salesforce from $310.00 to $250.00 and set a neutral rating on the stock in a research note on Thursday, May 30th. JPMorgan Chase & Co. lowered their target price on Salesforce from $310.00 to $300.00 and set an overweight rating on the stock in a report on Thursday, May 30th. Finally, Raymond James restated a strong-buy rating and set a $325.00 price target (down from $380.00) on shares of Salesforce in a research note on Thursday, May 30th. Nine investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $301.91.

Salesforce Stock Down 0.8 %

Shares of NYSE:CRM opened at $256.91 on Thursday. The firm has a market capitalization of $248.95 billion, a P/E ratio of 46.21, a P/E/G ratio of 2.22 and a beta of 1.29. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a 50 day moving average price of $253.98 and a 200-day moving average price of $271.54. Salesforce has a 52-week low of $193.68 and a 52-week high of $318.71.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $1.92 EPS for the quarter, beating the consensus estimate of $1.73 by $0.19. The business had revenue of $9.33 billion during the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a return on equity of 11.57% and a net margin of 15.30%. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.63 earnings per share. As a group, equities research analysts anticipate that Salesforce will post 7.47 EPS for the current fiscal year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Tuesday, July 9th were given a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.62%. Salesforce’s dividend payout ratio is currently 28.78%.

Insider Buying and Selling at Salesforce

In other news, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $262.90, for a total transaction of $1,104,180.00. Following the sale, the insider now directly owns 117,581 shares of the company’s stock, valued at approximately $30,912,044.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total transaction of $105,637.14. Following the sale, the chief accounting officer now directly owns 6,431 shares of the company’s stock, valued at $1,644,921.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $262.90, for a total value of $1,104,180.00. Following the completion of the sale, the insider now directly owns 117,581 shares of the company’s stock, valued at $30,912,044.90. The disclosure for this sale can be found here. Insiders sold 112,964 shares of company stock worth $27,956,647 in the last quarter. 3.20% of the stock is owned by corporate insiders.

Institutional Trading of Salesforce

Institutional investors have recently bought and sold shares of the stock. Signature Resources Capital Management LLC bought a new stake in shares of Salesforce in the 4th quarter worth about $26,000. Ruedi Wealth Management Inc. raised its position in Salesforce by 186.7% in the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after purchasing an additional 56 shares during the period. Piscataqua Savings Bank lifted its stake in Salesforce by 2,400.0% in the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after purchasing an additional 96 shares during the last quarter. Clear Investment Research LLC boosted its position in shares of Salesforce by 816.7% during the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after buying an additional 98 shares during the period. Finally, Red Tortoise LLC bought a new position in shares of Salesforce during the first quarter valued at approximately $33,000. 80.43% of the stock is currently owned by 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.