Salesforce (NYSE:CRM – Free Report) had its price objective upped by Citigroup from $290.00 to $368.00 in a research note published on Wednesday morning,Benzinga reports. They currently have a neutral rating on the CRM provider’s stock.
Several other equities research analysts have also issued reports on the company. Jefferies Financial Group raised their price objective on Salesforce from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Needham & Company LLC reissued a “buy” rating and issued a $345.00 target price on shares of Salesforce in a research note on Friday, September 20th. Wells Fargo & Company upped their price target on shares of Salesforce from $275.00 to $330.00 and gave the company an “equal weight” rating in a report on Tuesday, November 12th. UBS Group raised their price objective on shares of Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Finally, Morgan Stanley increased their price target on Salesforce from $320.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Eight research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $341.89.
Read Our Latest Research Report on CRM
Salesforce Trading Down 0.0 %
Salesforce (NYSE:CRM – Get Free Report) last posted its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. The firm had revenue of $9.33 billion for the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The business’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.63 EPS. Sell-side analysts anticipate that Salesforce will post 7.54 earnings per share for the current fiscal year.
Salesforce Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were paid a dividend of $0.40 per share. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 annualized dividend and a yield of 0.48%. Salesforce’s dividend payout ratio (DPR) is 27.83%.
Insider Activity at Salesforce
In related news, insider Parker Harris sold 3,528 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $250.59, for a total value of $884,081.52. Following the transaction, the insider now directly owns 117,581 shares of the company’s stock, valued at $29,464,622.79. This represents a 2.91 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Sabastian Niles sold 2,484 shares of Salesforce stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $244.81, for a total value of $608,108.04. Following the sale, the insider now directly owns 828 shares of the company’s stock, valued at approximately $202,702.68. This represents a 75.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 144,510 shares of company stock valued at $42,475,538 in the last ninety days. Corporate insiders own 3.20% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of CRM. Tidal Investments LLC boosted its position in Salesforce by 37.6% in the third quarter. Tidal Investments LLC now owns 196,584 shares of the CRM provider’s stock valued at $53,807,000 after buying an additional 53,739 shares during the last quarter. Wilmington Savings Fund Society FSB boosted its holdings in shares of Salesforce by 7.4% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 43,812 shares of the CRM provider’s stock valued at $11,992,000 after acquiring an additional 3,021 shares during the last quarter. Arvest Bank Trust Division acquired a new stake in shares of Salesforce in the third quarter worth $380,000. Sfmg LLC raised its holdings in shares of Salesforce by 0.4% during the third quarter. Sfmg LLC now owns 23,348 shares of the CRM provider’s stock worth $6,391,000 after purchasing an additional 84 shares during the last quarter. Finally, World Investment Advisors LLC lifted its position in Salesforce by 570.4% during the third quarter. World Investment Advisors LLC now owns 54,446 shares of the CRM provider’s stock valued at $14,903,000 after purchasing an additional 46,324 shares during the period. 80.43% of the stock is currently owned by hedge funds and other 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.
Featured Stories
- Five stocks we like better than Salesforce
- Buy P&G Now, Before It Sets A New All-Time High
- ServiceNow: Will the High-Flyer Finally Split in 2024?
- What is a Low P/E Ratio and What Does it Tell Investors?
- MarketBeat Week in Review – 11/25 – 11/29
- What is the S&P/TSX Index?
- These 3 Stocks Are Heavy Hitters in Alternative Asset Management
Receive News & Ratings for Salesforce Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Salesforce and related companies with MarketBeat.com's FREE daily email newsletter.