Salesforce (NYSE:CRM) Shares Up 1.9% – What’s Next?

Salesforce, Inc. (NYSE:CRM) shares rose 1.9% during mid-day trading on Friday . The stock traded as high as $275.26 and last traded at $274.51. Approximately 1,170,784 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 6,865,282 shares. The stock had previously closed at $269.33.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CRM. Cantor Fitzgerald started coverage on shares of Salesforce in a research note on Wednesday, April 23rd. They set an “overweight” rating and a $210.00 target price for the company. BMO Capital Markets restated an “outperform” rating on shares of Salesforce in a report on Wednesday, March 19th. Jefferies Financial Group reduced their target price on Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a report on Monday, March 31st. Wells Fargo & Company cut their price objective on Salesforce from $310.00 to $255.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 22nd. Finally, Stephens started coverage on shares of Salesforce in a report on Wednesday, March 19th. They issued an “equal weight” rating and a $311.00 target price for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have given a buy rating and five have issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $350.56.

Salesforce Stock Performance

The stock has a market cap of $264.58 billion, a P/E ratio of 45.26, a P/E/G ratio of 2.58 and a beta of 1.38. The firm has a 50 day moving average of $269.34 and a two-hundred day moving average of $307.70. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

Salesforce Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were paid a $0.42 dividend. This is an increase from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.68 annualized dividend and a dividend yield of 0.61%. Salesforce’s dividend payout ratio (DPR) is presently 26.10%.

Insider Buying and Selling

In other news, insider R David Schmaier sold 6,959 shares of the business’s stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total transaction of $1,762,784.29. Following the transaction, the insider now owns 36,090 shares in the company, valued at approximately $9,141,957.90. The trade was a 16.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Sundeep G. Reddy sold 1,525 shares of the stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $253.66, for a total transaction of $386,831.50. Following the completion of the sale, the chief accounting officer now owns 12,211 shares of the company’s stock, valued at approximately $3,097,442.26. The trade was a 11.10 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,051 shares of company stock valued at $15,027,714. 3.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Salesforce

A number of hedge funds have recently made changes to their positions in CRM. Bernard Wealth Management Corp. acquired a new stake in Salesforce during the fourth quarter valued at approximately $25,000. Accredited Wealth Management LLC acquired a new stake in Salesforce in the 4th quarter valued at $27,000. Arlington Trust Co LLC grew its position in Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after acquiring an additional 40 shares during the period. Compass Financial Services Inc acquired a new position in Salesforce during the fourth quarter worth $30,000. Finally, Capital A Wealth Management LLC lifted its holdings in shares of Salesforce by 450.0% during the first quarter. Capital A Wealth Management LLC now owns 110 shares of the CRM provider’s stock valued at $30,000 after acquiring an additional 90 shares during the period. 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.