Salesforce, Inc. (CRM) To Go Ex-Dividend on March 13th

Salesforce, Inc. (NYSE:CRMGet Free Report) declared a quarterly dividend on Wednesday, February 28th, RTT News reports. Stockholders of record on Thursday, March 14th will be paid a dividend of 0.40 per share by the CRM provider on Thursday, April 11th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date of this dividend is Wednesday, March 13th.

Salesforce has a dividend payout ratio of 14.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Salesforce to earn $8.57 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 18.7%.

Salesforce Stock Performance

NYSE:CRM opened at $305.28 on Monday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The stock has a market capitalization of $296.12 billion, a PE ratio of 72.69, a P/E/G ratio of 2.35 and a beta of 1.28. Salesforce has a fifty-two week low of $170.00 and a fifty-two week high of $318.71. The company has a fifty day moving average of $283.46 and a two-hundred day moving average of $244.39.

Salesforce (NYSE:CRMGet Free Report) last released its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.06. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The firm had revenue of $9.29 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter in the prior year, the firm earned $1.01 EPS. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. As a group, research analysts forecast that Salesforce will post 7.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on CRM shares. Oppenheimer boosted their price target on Salesforce from $300.00 to $325.00 and gave the stock an “outperform” rating in a research report on Monday, February 12th. UBS Group increased their target price on shares of Salesforce from $285.00 to $310.00 and gave the company a “neutral” rating in a research report on Friday, February 16th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $350.00 price objective on shares of Salesforce in a research note on Thursday. StockNews.com raised shares of Salesforce from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 1st. Finally, Truist Financial restated a “buy” rating and issued a $360.00 price target (up from $275.00) on shares of Salesforce in a research report on Thursday, February 29th. Eight investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and a consensus price target of $304.32.

Check Out Our Latest Report on CRM

Insider Transactions at Salesforce

In related news, CAO Sundeep G. Reddy sold 216 shares of Salesforce stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $278.71, for a total value of $60,201.36. Following the completion of the transaction, the chief accounting officer now owns 2,869 shares in the company, valued at $799,618.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Salesforce news, CAO Sundeep G. Reddy sold 216 shares of Salesforce stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $278.71, for a total transaction of $60,201.36. Following the completion of the sale, the chief accounting officer now directly owns 2,869 shares of the company’s stock, valued at approximately $799,618.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Marc Benioff sold 15,000 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $304.25, for a total value of $4,563,750.00. Following the completion of the transaction, the chief executive officer now owns 13,266,166 shares in the company, valued at approximately $4,036,231,005.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,144,112 shares of company stock valued at $315,443,192. 3.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. SageView Advisory Group LLC increased its position in shares of Salesforce by 110.3% during the fourth quarter. SageView Advisory Group LLC now owns 9,512 shares of the CRM provider’s stock worth $2,737,000 after purchasing an additional 4,990 shares in the last quarter. Oarsman Capital Inc. acquired a new position in Salesforce during the fourth quarter worth approximately $251,000. Harbour Investments Inc. lifted its stake in Salesforce by 59.3% in the fourth quarter. Harbour Investments Inc. now owns 3,069 shares of the CRM provider’s stock valued at $808,000 after buying an additional 1,142 shares during the last quarter. Aspect Partners LLC acquired a new stake in shares of Salesforce in the fourth quarter valued at approximately $29,000. Finally, Arkos Global Advisors grew its position in shares of Salesforce by 16.5% during the fourth quarter. Arkos Global Advisors now owns 1,745 shares of the CRM provider’s stock worth $459,000 after acquiring an additional 247 shares during the last quarter. Institutional investors and hedge funds own 77.52% of the company’s stock.

About Salesforce

(Get Free Report)

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.

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