Salesforce (NYSE:CRM) Stock Price Up 0.1% - What's Next?

Shares of Salesforce, Inc. (NYSE:CRM - Get Free Report) were up 0.1% during mid-day trading on Thursday . The company traded as high as $293.34 and last traded at $291.24. Approximately 545,732 shares traded hands during trading, a decline of 91% from the average daily volume of 6,418,952 shares. The stock had previously closed at $290.86.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CRM. Wells Fargo & Company boosted their price objective on Salesforce from $250.00 to $275.00 and gave the company an "equal weight" rating in a research report on Thursday, August 29th. Stifel Nicolaus lifted their price target on shares of Salesforce from $300.00 to $320.00 and gave the company a "buy" rating in a research note on Thursday, August 29th. Piper Sandler cut shares of Salesforce from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 10th. Northland Capmk upgraded shares of Salesforce from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, October 2nd. Finally, TD Cowen upped their price target on shares of Salesforce from $285.00 to $290.00 and gave the stock a "hold" rating in a research report on Thursday, August 29th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $310.74.

Salesforce Stock Up 0.1 %

The business's 50 day moving average is $265.84 and its 200-day moving average is $263.84. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. The company has a market cap of $282.10 billion, a PE ratio of 52.36, a P/E/G ratio of 2.61 and a beta of 1.30.

Salesforce (NYSE:CRM - Get Free Report) last issued its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, topping analysts' consensus estimates of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The firm had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter in the previous year, the firm posted $1.63 earnings per share. The company's revenue was up 8.5% compared to the same quarter last year. As a group, analysts predict that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce's dividend payout ratio (DPR) is 28.78%.

Insider Buying and Selling at Salesforce

In related news, COO Brian Millham sold 2,037 shares of Salesforce stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $248.75, for a total transaction of $506,703.75. Following the sale, the chief operating officer now directly owns 1,947 shares in the company, valued at $484,316.25. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Salesforce news, insider Parker Harris sold 2,800 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $241.22, for a total transaction of $675,416.00. Following the completion of the sale, the insider now directly owns 117,581 shares of the company's stock, valued at approximately $28,362,888.82. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Brian Millham sold 2,037 shares of the business's stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $248.75, for a total value of $506,703.75. Following the completion of the transaction, the chief operating officer now directly owns 1,947 shares in the company, valued at approximately $484,316.25. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 80,612 shares of company stock worth $21,429,961 over the last three months. Insiders own 3.20% of the company's stock.

Hedge Funds Weigh In On Salesforce

Several institutional investors have recently bought and sold shares of CRM. Vanguard Group Inc. increased its stake in shares of Salesforce by 1.2% during the first quarter. Vanguard Group Inc. now owns 84,635,254 shares of the CRM provider's stock worth $25,490,446,000 after acquiring an additional 1,008,841 shares during the period. Capital Research Global Investors boosted its holdings in Salesforce by 26.9% in the 1st quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider's stock valued at $4,329,925,000 after purchasing an additional 3,044,611 shares in the last quarter. Capital International Investors increased its position in Salesforce by 3.0% during the 1st quarter. Capital International Investors now owns 14,116,449 shares of the CRM provider's stock worth $4,251,592,000 after purchasing an additional 407,834 shares during the period. Legal & General Group Plc raised its stake in shares of Salesforce by 2.2% during the 2nd quarter. Legal & General Group Plc now owns 8,329,687 shares of the CRM provider's stock worth $2,141,562,000 after buying an additional 176,641 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Salesforce by 48.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,906,877 shares of the CRM provider's stock valued at $1,518,658,000 after buying an additional 1,922,674 shares during the period. 80.43% of the stock is owned by institutional investors and hedge funds.

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.