Salesforce, Inc. (NYSE:CRM - Get Free Report) fell 4.6% during mid-day trading on Monday . The stock traded as low as $234.48 and last traded at $236.00. Approximately 2,342,826 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 6,987,056 shares. The stock had previously closed at $247.26.
Analyst Ratings Changes
A number of research firms have recently issued reports on CRM. BMO Capital Markets restated an "outperform" rating on shares of Salesforce in a report on Wednesday, March 19th. Citigroup restated a "buy" rating on shares of Salesforce in a research note on Wednesday, March 19th. Stephens initiated coverage on shares of Salesforce in a research note on Wednesday, March 19th. They set an "equal weight" rating and a $311.00 price objective on the stock. Scotiabank reduced their price objective on shares of Salesforce from $400.00 to $345.00 and set a "sector outperform" rating on the stock in a research note on Monday, March 17th. Finally, Stifel Nicolaus decreased their price objective on Salesforce from $425.00 to $375.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $355.19.
Read Our Latest Research Report on Salesforce
Salesforce Price Performance
The business has a 50-day moving average of $276.19 and a 200 day moving average of $308.58. The firm has a market capitalization of $251.61 billion, a P/E ratio of 43.07, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.
Salesforce Increases Dividend
The firm 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 $0.42 dividend. The ex-dividend date is Thursday, April 10th. This represents a $1.68 annualized dividend and a yield of 0.64%. This is an increase from Salesforce's previous quarterly dividend of $0.40. Salesforce's dividend payout ratio (DPR) is presently 26.10%.
Insider Buying and Selling at Salesforce
In other Salesforce news, insider R David Schmaier sold 6,959 shares of Salesforce 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 transaction, the insider now owns 36,090 shares of the company's stock, valued at $9,141,957.90. This trade represents a 16.17 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Miguel Milano sold 458 shares of the company'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 value of $141,050.26. Following the completion of the transaction, the insider now directly owns 5,864 shares of the company's stock, valued at approximately $1,805,936.08. This represents a 7.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 44,961 shares of company stock valued at $13,229,264. Corporate insiders own 3.20% of the company's stock.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the business. Bernard Wealth Management Corp. bought a new stake in Salesforce in the fourth quarter worth about $25,000. Accredited Wealth Management LLC bought a new stake in shares of Salesforce in the 4th quarter worth approximately $27,000. Arlington Trust Co LLC lifted its stake in Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock valued at $29,000 after purchasing an additional 40 shares during the last quarter. Compass Financial Services Inc bought a new position in Salesforce during the fourth quarter valued at $30,000. Finally, Asset Planning Inc purchased a new stake in Salesforce in the fourth quarter worth $31,000. Institutional investors own 80.43% of the company's stock.
About Salesforce
(
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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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