Salesforce (NYSE:CRM) Trading 1.2% Higher

Salesforce, Inc. (NYSE:CRM) shares rose 1.2% on Tuesday . The stock traded as high as $272.46 and last traded at $267.44. Approximately 2,514,339 shares traded hands during mid-day trading, a decline of 62% from the average daily volume of 6,550,994 shares. The stock had previously closed at $264.21.

Analyst Ratings Changes

Several equities research analysts have issued reports on CRM shares. FBN Securities upgraded Salesforce to a “strong-buy” rating in a research report on Thursday, August 29th. TD Cowen lifted their target price on Salesforce from $285.00 to $290.00 and gave the company a “hold” rating in a report on Thursday, August 29th. Royal Bank of Canada reissued an “outperform” rating and issued a $300.00 price target on shares of Salesforce in a report on Thursday, September 19th. Stifel Nicolaus boosted their price objective on shares of Salesforce from $300.00 to $320.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Salesforce from $300.00 to $310.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Eight equities research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and a consensus price target of $307.73.

Salesforce Price Performance

The firm has a market capitalization of $260.10 billion, a PE ratio of 48.10, a PEG ratio of 2.26 and a beta of 1.29. 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 50-day simple moving average of $254.37 and a 200-day simple moving average of $265.91.

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

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date is Wednesday, September 18th. Salesforce’s payout ratio is 28.78%.

Insider Buying and Selling

In other news, insider Parker Harris sold 942 shares of Salesforce stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $264.78, for a total transaction of $249,422.76. Following the completion of the sale, the insider now directly owns 118,514 shares in the company, valued at $31,380,136.92. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO Amy E. Weaver sold 897 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total transaction of $229,434.66. Following the sale, the chief financial officer now owns 51,109 shares of the company’s stock, valued at $13,072,660.02. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Parker Harris sold 942 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $264.78, for a total transaction of $249,422.76. Following the completion of the sale, the insider now owns 118,514 shares in the company, valued at $31,380,136.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 70,633 shares of company stock worth $18,100,349. 3.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Salesforce

A number of large investors have recently made changes to their positions in the business. Ruedi Wealth Management Inc. increased its position in Salesforce by 186.7% during the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock valued at $26,000 after buying an additional 56 shares in the last quarter. Piscataqua Savings Bank increased its stake in Salesforce by 2,400.0% during the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 96 shares in the last quarter. Clear Investment Research LLC lifted its stake 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 worth $28,000 after buying an additional 98 shares during the period. Red Tortoise LLC purchased a new stake in shares of Salesforce during the first quarter valued at $33,000. Finally, Stephens Consulting LLC raised its stake in Salesforce by 3,125.0% in the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 125 shares during the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

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.