Salesforce (NYSE:CRM) Shares Up 0.9%

Salesforce, Inc. (NYSE:CRMGet Free Report)’s share price shot up 0.9% during trading on Wednesday . The company traded as high as $306.86 and last traded at $306.85. 648,891 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 5,623,538 shares. The stock had previously closed at $304.00.

Analyst Ratings Changes

A number of research firms have commented on CRM. Oppenheimer raised their target price on Salesforce from $300.00 to $325.00 and gave the company an “outperform” rating in a report on Monday, February 12th. JMP Securities raised their target price on Salesforce from $293.00 to $342.00 and gave the company a “market outperform” rating in a report on Thursday, February 29th. Argus raised their target price on Salesforce from $290.00 to $354.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Robert W. Baird raised their target price on Salesforce from $310.00 to $355.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Finally, Wedbush raised their target price on Salesforce from $280.00 to $325.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Nine investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $304.97.

Read Our Latest Stock Analysis on CRM

Salesforce Price Performance

The stock has a 50-day simple moving average of $296.10 and a 200 day simple moving average of $254.65. 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 company has a market cap of $294.58 billion, a P/E ratio of 73.06, a P/E/G ratio of 2.32 and a beta of 1.28.

Salesforce (NYSE:CRMGet Free Report) last announced its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The company had revenue of $9.29 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter last year, the company earned $1.01 EPS. The company’s quarterly revenue was up 10.8% on a year-over-year basis. On average, equities analysts expect that Salesforce, Inc. will post 7.45 EPS for the current year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 11th. Investors of record on Thursday, March 14th will be given a dividend of $0.40 per share. The ex-dividend date is Wednesday, March 13th. This represents a $1.60 annualized dividend and a dividend yield of 0.53%. Salesforce’s dividend payout ratio (DPR) is presently 9.52%.

Insider Buying and Selling

In related news, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $315.54, for a total transaction of $4,733,100.00. Following the completion of the transaction, the chief executive officer now owns 13,311,166 shares in the company, valued at approximately $4,200,205,319.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $315.54, for a total transaction of $4,733,100.00. Following the completion of the transaction, the chief executive officer now directly owns 13,311,166 shares of the company’s stock, valued at $4,200,205,319.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Srinivas Tallapragada sold 10,000 shares of the stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $253.82, for a total value of $2,538,200.00. Following the transaction, the insider now directly owns 59,861 shares of the company’s stock, valued at $15,193,919.02. The disclosure for this sale can be found here. Insiders sold 913,175 shares of company stock worth $261,391,996 in the last 90 days. 3.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Salesforce

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of Salesforce by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 83,626,413 shares of the CRM provider’s stock valued at $22,005,454,000 after acquiring an additional 1,240,821 shares in the last quarter. State Street Corp boosted its holdings in shares of Salesforce by 0.3% during the 2nd quarter. State Street Corp now owns 45,653,307 shares of the CRM provider’s stock valued at $9,644,718,000 after acquiring an additional 143,962 shares in the last quarter. Capital World Investors boosted its holdings in shares of Salesforce by 2.4% during the 4th quarter. Capital World Investors now owns 19,561,325 shares of the CRM provider’s stock valued at $5,147,402,000 after acquiring an additional 457,463 shares in the last quarter. Morgan Stanley boosted its holdings in shares of Salesforce by 0.8% during the 4th quarter. Morgan Stanley now owns 19,003,836 shares of the CRM provider’s stock valued at $2,519,719,000 after acquiring an additional 149,012 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in Salesforce by 5.3% during the 4th quarter. Fisher Asset Management LLC now owns 14,921,042 shares of the CRM provider’s stock worth $3,926,323,000 after buying an additional 752,566 shares during the period. Institutional investors own 80.43% of the company’s stock.

Salesforce Company Profile

(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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