Salesforce (NYSE:CRM) Stock Price Up 0.4% – What’s Next?

Salesforce, Inc. (NYSE:CRM) was up 0.4% during trading on Wednesday . The stock traded as high as $344.95 and last traded at $344.43. Approximately 1,810,961 shares changed hands during trading, a decline of 72% from the average daily volume of 6,429,396 shares. The stock had previously closed at $342.90.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on CRM shares. Macquarie reiterated a “neutral” rating and set a $370.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. Morgan Stanley lifted their target price on Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Guggenheim restated a “neutral” rating on shares of Salesforce in a report on Wednesday, December 4th. UBS Group increased their price target on Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Finally, Robert W. Baird upped their target price on Salesforce from $340.00 to $430.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Eight analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus target price of $378.86.

Salesforce Stock Down 0.8 %

The stock has a market cap of $327.03 billion, a P/E ratio of 56.20, a price-to-earnings-growth ratio of 3.21 and a beta of 1.30. The firm has a 50 day simple moving average of $327.37 and a 200-day simple moving average of $281.90. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

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

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th will be given a dividend of $0.40 per share. The ex-dividend date is Wednesday, December 18th. This represents a $1.60 annualized dividend and a yield of 0.47%. Salesforce’s dividend payout ratio is currently 26.32%.

Insider Buying and Selling at Salesforce

In other Salesforce news, Director G Mason Morfit sold 722,300 shares of the company’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $346.11, for a total value of $249,995,253.00. Following the completion of the transaction, the director now owns 3,192,009 shares of the company’s stock, valued at $1,104,786,234.99. This represents a 18.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $271.75, for a total transaction of $1,141,350.00. Following the sale, the insider now owns 118,514 shares in the company, valued at approximately $32,206,179.50. This represents a 3.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,196,859 shares of company stock valued at $408,858,663. 3.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Salesforce

A number of hedge funds have recently modified their holdings of CRM. Infrastructure Capital Advisors LLC bought a new stake in shares of Salesforce in the 3rd quarter valued at about $27,000. Clear Investment Research LLC raised its holdings 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 purchasing an additional 98 shares during the period. Strategic Investment Solutions Inc. IL bought a new position in Salesforce in the second quarter worth approximately $33,000. Godsey & Gibb Inc. grew its stake in Salesforce by 300.0% in the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 90 shares during the period. Finally, Annapolis Financial Services LLC increased its holdings in shares of Salesforce by 135.6% during the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock valued at $38,000 after acquiring an additional 80 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.