Salesforce (NYSE:CRM) Trading Up 1% Following Dividend Announcement

Salesforce, Inc. (NYSE:CRM) traded up 1% during trading on Friday after the company announced a dividend. The stock traded as high as $367.15 and last traded at $364.99. 1,752,091 shares were traded during mid-day trading, a decline of 73% from the average session volume of 6,393,673 shares. The stock had previously closed at $361.38.

The newly announced dividend which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend is Wednesday, December 18th. Salesforce’s dividend payout ratio is currently 26.32%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CRM. BNP Paribas upgraded Salesforce to a “strong-buy” rating in a report on Thursday, August 29th. Northland Securities reiterated an “outperform” rating and issued a $440.00 price objective (up previously from $400.00) on shares of Salesforce in a research note on Wednesday. Stifel Nicolaus upped their target price on shares of Salesforce from $390.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday. Needham & Company LLC lifted their price target on shares of Salesforce from $345.00 to $375.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Wedbush boosted their price target on shares of Salesforce from $325.00 to $375.00 and gave the stock an “outperform” rating in a report on Monday, November 25th. Eight investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and an average price target of $372.86.

Salesforce Trading Up 0.2 %

The company has a quick ratio of 1.04, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The company’s fifty day moving average price is $309.97 and its two-hundred day moving average price is $272.88. The firm has a market cap of $346.06 billion, a PE ratio of 59.54, a P/E/G ratio of 3.33 and a beta of 1.30.

Salesforce (NYSE:CRM) last announced its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.35 billion. During the same quarter last year, the company posted $1.62 earnings per share. Salesforce’s revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Salesforce news, insider Sabastian Niles sold 2,484 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $244.81, for a total value of $608,108.04. Following the completion of the transaction, the insider now owns 828 shares in the company, valued at approximately $202,702.68. This represents a 75.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Miguel Milano sold 719 shares of Salesforce stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $342.81, for a total value of $246,480.39. Following the sale, the insider now directly owns 4,659 shares in the company, valued at approximately $1,597,151.79. This trade represents a 13.37 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 140,982 shares of company stock worth $41,591,457. 3.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Salesforce

Several large investors have recently added to or reduced their stakes in CRM. Infrastructure Capital Advisors LLC bought a new stake in shares of Salesforce during the third quarter valued at about $27,000. Clear Investment Research LLC raised its position in shares of 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 buying an additional 98 shares in the last quarter. Stephens Consulting LLC lifted its stake in shares of 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 period. Strategic Investment Solutions Inc. IL acquired a new position in shares of Salesforce during the second quarter valued at approximately $33,000. Finally, Godsey & Gibb Inc. increased its stake in shares of Salesforce by 300.0% during 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. 80.43% of the stock is currently owned by institutional investors and hedge funds.

About Salesforce

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.