Salesforce, Inc. (NYSE:CRM - Get Free Report) traded up 0.3% during mid-day trading on Wednesday . The stock traded as high as $246.44 and last traded at $244.72. 2,037,608 shares changed hands during trading, a decline of 70% from the average session volume of 6,719,605 shares. The stock had previously closed at $243.99.
Wall Street Analysts Forecast Growth
CRM has been the subject of a number of analyst reports. Stifel Nicolaus decreased their price objective on shares of Salesforce from $425.00 to $375.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Needham & Company LLC reiterated a "buy" rating and set a $400.00 price target on shares of Salesforce in a report on Thursday, February 27th. JMP Securities restated a "market outperform" rating and issued a $450.00 price objective on shares of Salesforce in a research note on Wednesday, December 18th. Wedbush reiterated an "outperform" rating and set a $425.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. Finally, Robert W. Baird decreased their target price on Salesforce from $430.00 to $400.00 and set an "outperform" rating on the stock in a report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $361.42.
Check Out Our Latest Stock Report on CRM
Salesforce Price Performance
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 has a market cap of $245.04 billion, a price-to-earnings ratio of 41.94, a PEG ratio of 2.58 and a beta of 1.38. The business has a fifty day moving average price of $289.29 and a 200 day moving average price of $310.46.
Salesforce Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.66%. This is a boost from Salesforce's previous quarterly dividend of $0.40. Salesforce's dividend payout ratio is 26.10%.
Insider Activity at Salesforce
In other news, COO Brian Millham sold 708 shares of the stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $235,254.24. Following the completion of the transaction, the chief operating officer now directly owns 1,239 shares in the company, valued at approximately $411,694.92. This represents a 36.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Amy E. Weaver sold 897 shares of the business's stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $298,055.16. Following the sale, the chief financial officer now owns 46,750 shares in the company, valued at $15,534,090. This represents a 1.88 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,660 shares of company stock valued at $14,095,336. 3.20% of the stock is owned by insiders.
Institutional Trading of Salesforce
Several hedge funds and other institutional investors have recently made changes to their positions in CRM. Foundations Investment Advisors LLC increased its position in Salesforce by 15.0% in the 4th quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider's stock valued at $12,194,000 after acquiring an additional 4,752 shares during the period. Athena Investment Management bought a new stake in shares of Salesforce in the fourth quarter worth $236,000. Highland Capital Management LLC acquired a new stake in Salesforce in the fourth quarter valued at $4,321,000. Nordea Investment Management AB raised its position in Salesforce by 11.9% during the 4th quarter. Nordea Investment Management AB now owns 2,288,803 shares of the CRM provider's stock worth $766,566,000 after purchasing an additional 243,008 shares during the last quarter. Finally, CWA Asset Management Group LLC lifted its holdings in Salesforce by 14.1% during the 4th quarter. CWA Asset Management Group LLC now owns 15,708 shares of the CRM provider's stock worth $5,252,000 after buying an additional 1,936 shares during the period. 80.43% of the stock is currently owned by institutional investors.
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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