Salesforce (NYSE:CRM) Shares Up 1.3% After Insider Buying Activity

Salesforce, Inc. (NYSE:CRM - Get Free Report)'s share price traded up 1.3% during trading on Monday following insider buying activity. The company traded as high as $252.95 and last traded at $243.79. 4,787,045 shares traded hands during trading, a decline of 28% from the average session volume of 6,685,936 shares. The stock had previously closed at $240.76.

Specifically, Director Oscar Munoz purchased 3,882 shares of the firm's stock in a transaction dated Thursday, April 3rd. The shares were purchased at an average price of $257.28 per share, with a total value of $998,760.96. Following the acquisition, the director now directly owns 11,843 shares of the company's stock, valued at approximately $3,046,967.04. This represents a 48.76 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on CRM shares. DA Davidson reduced their target price on Salesforce from $300.00 to $275.00 and set a "neutral" rating on the stock in a research note on Thursday, February 27th. Scotiabank reduced their price target on shares of Salesforce from $400.00 to $345.00 and set a "sector outperform" rating on the stock in a research report on Monday, March 17th. KeyCorp upgraded shares of Salesforce from a "sector weight" rating to an "overweight" rating and set a $440.00 price objective for the company in a report on Friday, December 13th. JMP Securities reaffirmed a "market outperform" rating and set a $450.00 target price on shares of Salesforce in a report on Wednesday, December 18th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $400.00 price target on shares of Salesforce in a research note on Thursday, February 27th. One analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $361.42.

Salesforce Stock Down 0.3 %

The company has a market capitalization of $244.43 billion, a PE ratio of 41.91, 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 $291.07 and its 200 day moving average is $310.59.

Salesforce Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 10th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $1.68 annualized dividend and a dividend yield of 0.66%. This is an increase from Salesforce's previous quarterly dividend of $0.40. Salesforce's dividend payout ratio (DPR) is 26.10%.

Hedge Funds Weigh In On Salesforce

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its position in shares of Salesforce by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 19,955,353 shares of the CRM provider's stock valued at $6,656,078,000 after buying an additional 175,035 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in shares of Salesforce by 1.4% during the 4th quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider's stock valued at $4,163,703,000 after acquiring an additional 177,321 shares during the last quarter. Northern Trust Corp grew its stake in shares of Salesforce by 18.3% in the fourth quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider's stock worth $3,752,830,000 after acquiring an additional 1,736,667 shares during the period. Norges Bank purchased a new position in shares of Salesforce during the fourth quarter valued at approximately $3,599,867,000. Finally, Price T Rowe Associates Inc. MD lifted its position in Salesforce by 23.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,938,536 shares of the CRM provider's stock valued at $2,988,422,000 after purchasing an additional 1,683,233 shares during the period. 80.43% of the stock is owned by institutional investors.

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.