Salesforce (NYSE:CRM) Trading Up 1.5% - Here's Why

Salesforce, Inc. (NYSE:CRM - Get Free Report)'s share price was up 1.5% during trading on Tuesday . The stock traded as high as $239.99 and last traded at $239.87. Approximately 1,622,749 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 6,773,461 shares. The stock had previously closed at $236.26.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. TD Cowen raised Salesforce from a "hold" rating to a "buy" rating and lifted their price target for the stock from $380.00 to $400.00 in a report on Friday, January 17th. Canaccord Genuity Group dropped their target price on Salesforce from $415.00 to $400.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Oppenheimer decreased their price target on shares of Salesforce from $415.00 to $380.00 and set an "outperform" rating on the stock in a research note on Thursday, February 27th. Scotiabank lowered 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. Finally, Wells Fargo & Company cut their price objective on shares of Salesforce from $310.00 to $255.00 and set an "equal weight" rating for the company in a report on Tuesday. One equities 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 assigned a strong buy rating to the stock. According to MarketBeat, Salesforce currently has a consensus rating of "Moderate Buy" and a consensus target price of $351.37.

Salesforce Stock Up 0.6 %

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 stock's fifty day simple moving average is $274.96 and its two-hundred day simple moving average is $308.44. The stock has a market capitalization of $255.91 billion, a P/E ratio of 43.88, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38.

Salesforce Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were paid a $0.42 dividend. This is a boost from Salesforce's previous quarterly dividend of $0.40. The ex-dividend date was Thursday, April 10th. This represents a $1.68 annualized dividend and a dividend yield of 0.63%. Salesforce's payout ratio is currently 26.10%.

Insider Buying and Selling

In other Salesforce news, insider R David Schmaier sold 6,959 shares of the stock in a transaction that occurred on 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 completion of the sale, the insider now owns 36,090 shares of the company's stock, valued at approximately $9,141,957.90. This represents a 16.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Sundeep G. Reddy sold 500 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $335.94, for a total transaction of $167,970.00. Following the completion of the transaction, the chief accounting officer now owns 6,557 shares in the company, valued at $2,202,758.58. This trade represents a 7.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,051 shares of company stock valued at $15,027,714 in the last three months. Insiders own 3.20% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Nvest Financial LLC increased its holdings in Salesforce by 1.1% in the fourth quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider's stock worth $938,000 after purchasing an additional 31 shares in the last quarter. OMC Financial Services LTD lifted its position in shares of Salesforce by 0.3% during the 4th quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider's stock valued at $3,808,000 after acquiring an additional 31 shares during the period. Capital Advisors Ltd. LLC boosted its stake in Salesforce by 4.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider's stock worth $263,000 after acquiring an additional 31 shares in the last quarter. Sachetta LLC grew its holdings in Salesforce by 0.3% in the fourth quarter. Sachetta LLC now owns 11,018 shares of the CRM provider's stock worth $3,684,000 after purchasing an additional 32 shares during the period. Finally, Prossimo Advisors LLC increased its stake in Salesforce by 1.0% in the fourth quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider's stock valued at $1,125,000 after purchasing an additional 32 shares in the last quarter. 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.