Salesforce (NYSE:CRM) Stock Price Up 0.9% - Time to Buy?

Salesforce, Inc. (NYSE:CRM - Get Free Report) shares were up 0.9% during trading on Friday . The stock traded as high as $266.98 and last traded at $267.18. Approximately 1,163,775 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 6,786,614 shares. The stock had previously closed at $264.70.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Citigroup restated a "buy" rating on shares of Salesforce in a report on Wednesday, March 19th. Bank of America decreased their price target on shares of Salesforce from $440.00 to $400.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Canaccord Genuity Group reduced their price objective on shares of Salesforce from $415.00 to $400.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Guggenheim raised shares of Salesforce from a "sell" rating to a "neutral" rating in a research report on Monday, April 21st. Finally, Oppenheimer dropped their price target on shares of Salesforce from $415.00 to $380.00 and set an "outperform" rating on the stock in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $351.37.

Salesforce Stock Up 1.2 %

The company has a market capitalization of $257.42 billion, a PE ratio of 44.06, a P/E/G ratio of 2.58 and a beta of 1.38. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The company's 50-day moving average is $273.75 and its 200 day moving average is $308.41.

Salesforce Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.68 annualized dividend and a dividend yield of 0.63%. This is an increase from Salesforce's previous quarterly dividend of $0.40. Salesforce's dividend payout ratio (DPR) is 26.10%.

Insider Activity at Salesforce

In other news, CFO Amy E. Weaver sold 6,221 shares of the firm's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $335.94, for a total transaction of $2,089,882.74. Following the sale, the chief financial officer now owns 46,750 shares of the company's stock, valued at $15,705,195. This trade represents a 11.74 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Miguel Milano sold 458 shares of the business's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $307.97, for a total transaction of $141,050.26. Following the transaction, the insider now directly owns 5,864 shares of the company's stock, valued at $1,805,936.08. The trade was a 7.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 52,051 shares of company stock valued at $15,027,714. 3.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Salesforce

A number of large investors have recently added to or reduced their stakes in the stock. Bernard Wealth Management Corp. purchased a new stake in Salesforce during the fourth quarter valued at $25,000. Accredited Wealth Management LLC purchased a new stake in shares of Salesforce during the 4th quarter valued at about $27,000. Arlington Trust Co LLC lifted its stake in shares of Salesforce by 85.1% in the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock worth $29,000 after purchasing an additional 40 shares during the period. Compass Financial Services Inc purchased a new position in shares of Salesforce in the fourth quarter worth approximately $30,000. Finally, Asset Planning Inc purchased a new stake in Salesforce during the fourth quarter valued at approximately $31,000. Institutional investors own 80.43% of the company's stock.

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.