Salesforce, Inc. (NYSE:CRM - Get Free Report)'s stock price was up 0.2% during trading on Wednesday . The company traded as high as $270.95 and last traded at $270.74. Approximately 1,078,977 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 6,632,086 shares. The stock had previously closed at $270.20.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on CRM. Stifel Nicolaus lowered their price objective on Salesforce from $425.00 to $375.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Robert W. Baird decreased their price target on Salesforce from $430.00 to $400.00 and set an "outperform" rating on the stock in a research note on Thursday, February 27th. Guggenheim reiterated a "sell" rating and issued a $247.00 price objective on shares of Salesforce in a research report on Thursday, February 27th. Macquarie restated a "neutral" rating and set a $320.00 target price on shares of Salesforce in a research report on Thursday, March 20th. Finally, Jefferies Financial Group cut their price target on shares of Salesforce from $425.00 to $375.00 and set a "buy" rating for the company in a report on Monday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $361.42.
View Our Latest Stock Analysis on CRM
Salesforce Price Performance
The company's 50-day moving average is $304.32 and its 200-day moving average is $311.11. The firm has a market capitalization of $245.11 billion, a price-to-earnings ratio of 41.95, a PEG ratio of 2.58 and a beta of 1.35. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.
Salesforce Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date is Thursday, April 10th. This is a positive change from Salesforce's previous quarterly dividend of $0.40. Salesforce's dividend payout ratio (DPR) is 26.10%.
Insider Transactions at Salesforce
In other news, insider R David Schmaier sold 1,785 shares of the business's stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $288.34, for a total transaction of $514,686.90. Following the completion of the sale, the insider now owns 29,190 shares in the company, valued at approximately $8,416,644.60. The trade was a 5.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $329.88, for a total transaction of $2,052,183.48. Following the sale, the chief financial officer now directly owns 45,861 shares of the company's stock, valued at approximately $15,128,626.68. This trade represents a 11.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 45,660 shares of company stock worth $14,095,336 in the last ninety days. Insiders own 3.20% of the company's stock.
Institutional Investors Weigh In On Salesforce
Several large investors have recently made changes to their positions in the business. Foundations Investment Advisors LLC increased its holdings 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 purchasing an additional 4,752 shares in the last quarter. Nabity Jensen Investment Management Inc acquired a new stake in shares of Salesforce in the third quarter valued at about $1,215,000. Athena Investment Management purchased a new stake in shares of Salesforce during the 4th quarter valued at about $236,000. Highland Capital Management LLC purchased a new stake in shares of Salesforce during the 4th quarter valued at about $4,321,000. Finally, Geode Capital Management LLC lifted its position in Salesforce by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider's stock worth $5,395,132,000 after acquiring an additional 257,501 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company's stock.
Salesforce Company Profile
(
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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