Salesforce (NYSE:CRM) Price Target Cut to $375.00 by Analysts at Jefferies Financial Group

Salesforce (NYSE:CRM) had its target price trimmed by Jefferies Financial Group from $425.00 to $375.00 in a research report report published on Monday morning,Benzinga reports. The firm currently has a buy rating on the CRM provider’s stock.

CRM has been the topic of several other reports. JMP Securities reaffirmed a “market outperform” rating and set a $450.00 price objective on shares of Salesforce in a research report on Wednesday, December 18th. Oppenheimer lowered their price objective on shares of Salesforce from $415.00 to $380.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. Morgan Stanley lifted their target price on shares of Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Redburn Atlantic began coverage on Salesforce in a research note on Wednesday, February 19th. They issued a “buy” rating on the stock. Finally, Stifel Nicolaus lowered their target price on Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $361.42.

Salesforce Price Performance

Shares of NYSE CRM opened at $268.05 on Monday. The firm has a market cap of $257.60 billion, a P/E ratio of 44.09, a PEG ratio of 2.58 and a beta of 1.35. Salesforce has a twelve month low of $212.00 and a twelve month high of $369.00. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The company has a 50 day moving average of $308.26 and a 200 day moving average of $311.67.

Salesforce Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th will be given a $0.42 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This is a boost from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.63%. Salesforce’s payout ratio is 26.10%.

Insider Activity

In other news, CAO Sundeep G. Reddy sold 436 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $144,874.08. Following the transaction, the chief accounting officer now owns 7,057 shares in the company, valued at $2,344,899.96. This trade represents a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $277.37, for a total value of $1,725,518.77. Following the sale, the chief financial officer now owns 46,750 shares of the company’s stock, valued at $12,967,047.50. The trade was a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 45,660 shares of company stock worth $14,095,336 in the last quarter. Corporate insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Salesforce

A number of large investors have recently modified their holdings of CRM. Fire Capital Management LLC acquired a new position in Salesforce during the fourth quarter worth about $1,326,000. Fairtree Asset Management Pty Ltd acquired a new position in shares of Salesforce during the 4th quarter worth approximately $431,000. M1 Capital Management LLC purchased a new stake in shares of Salesforce in the fourth quarter valued at approximately $347,000. DSG Capital Advisors LLC acquired a new stake in shares of Salesforce in the fourth quarter valued at approximately $3,237,000. Finally, 111 Capital purchased a new position in Salesforce during the fourth quarter worth approximately $1,808,000. Hedge funds and other institutional investors 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.