Salesforce (NYSE:CRM) PT Raised to $320.00

Salesforce (NYSE:CRM) had its price target hoisted by Stifel Nicolaus from $300.00 to $320.00 in a research report sent to investors on Thursday morning, Benzinga reports. The firm currently has a buy rating on the CRM provider’s stock.

A number of other equities research analysts have also issued reports on CRM. Mizuho decreased their target price on shares of Salesforce from $345.00 to $300.00 and set a buy rating for the company in a research note on Thursday, May 30th. Royal Bank of Canada reaffirmed an outperform rating and set a $300.00 price objective on shares of Salesforce in a research report on Thursday. UBS Group increased their target price on shares of Salesforce from $250.00 to $275.00 and gave the stock a neutral rating in a research report on Thursday. Jefferies Financial Group decreased their price target on Salesforce from $360.00 to $350.00 and set a buy rating for the company in a research note on Thursday, May 30th. Finally, Citigroup increased their price objective on Salesforce from $260.00 to $290.00 and gave the company a neutral rating in a report on Monday. Nine analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $301.91.

Salesforce Stock Performance

Shares of CRM stock opened at $256.91 on Thursday. The company has a market capitalization of $248.95 billion, a price-to-earnings ratio of 46.21, a P/E/G ratio of 2.22 and a beta of 1.29. Salesforce has a 1-year low of $193.68 and a 1-year high of $318.71. 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’s fifty day simple moving average is $253.98 and its 200-day simple moving average is $271.54.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.19. The firm 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 business’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period last year, the company posted $1.63 EPS. On average, sell-side analysts predict that Salesforce will post 7.47 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Tuesday, July 9th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.62%. The ex-dividend date was Tuesday, July 9th. Salesforce’s dividend payout ratio is 28.78%.

Insiders Place Their Bets

In other news, insider Parker Harris sold 2,800 shares of the stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $235.99, for a total value of $660,772.00. Following the transaction, the insider now owns 115,762 shares of the company’s stock, valued at approximately $27,318,674.38. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Parker Harris sold 2,800 shares of the stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $235.99, for a total value of $660,772.00. Following the transaction, the insider now owns 115,762 shares of the company’s stock, valued at approximately $27,318,674.38. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director G Mason Morfit purchased 428,000 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was bought at an average cost of $233.17 per share, for a total transaction of $99,796,760.00. Following the purchase, the director now owns 3,914,309 shares in the company, valued at $912,699,429.53. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 112,964 shares of company stock valued at $27,956,647. 3.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Salesforce

Hedge funds have recently added to or reduced their stakes in the business. Ruedi Wealth Management Inc. increased its holdings in Salesforce by 186.7% during 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 in the last quarter. Signature Resources Capital Management LLC bought a new position in Salesforce during the 4th quarter worth about $26,000. Piscataqua Savings Bank increased its holdings in Salesforce by 2,400.0% during the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after purchasing an additional 96 shares in the last quarter. Red Tortoise LLC bought a new position in Salesforce during the 1st quarter worth about $33,000. Finally, Clear Investment Research LLC increased its holdings in Salesforce by 816.7% during the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after purchasing an additional 98 shares in the last quarter. 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.