Salesforce (NYSE:CRM) Trading 0.3% Higher – What’s Next?

Salesforce, Inc. (NYSE:CRM) was up 0.3% during trading on Wednesday . The stock traded as high as $331.53 and last traded at $324.44. Approximately 1,923,532 shares were traded during trading, a decline of 59% from the average daily volume of 4,650,301 shares. The stock had previously closed at $323.54.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CRM. Guggenheim downgraded shares of Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 target price on the stock. in a research note on Monday, January 6th. Citigroup raised their price objective on shares of Salesforce from $368.00 to $390.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Macquarie reiterated a “neutral” rating and issued a $370.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. Barclays raised their price target on Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Finally, BMO Capital Markets lifted their price target on Salesforce from $385.00 to $425.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have given a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and a consensus price target of $377.63.

Salesforce Trading Up 1.5 %

The stock’s fifty day moving average price is $337.25 and its 200 day moving average price is $291.08. The stock has a market cap of $310.81 billion, a P/E ratio of 53.42, a PEG ratio of 2.87 and a beta of 1.30. 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 (NYSE:CRM) last issued its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The business had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The company’s revenue was up 8.3% on a year-over-year basis. During the same period last year, the business earned $1.62 earnings per share. Equities research analysts expect that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were paid a $0.40 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.49%. Salesforce’s payout ratio is currently 26.32%.

Insider Buying and Selling at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $329.88, for a total transaction of $2,052,183.48. Following the completion of the sale, the chief financial officer now directly owns 45,861 shares in the company, valued at approximately $15,128,626.68. This trade represents a 11.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $117,824.77. Following the completion of the transaction, the chief accounting officer now directly owns 7,006 shares of the company’s stock, valued at $1,998,741.74. This trade represents a 5.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,183,838 shares of company stock worth $405,595,158. 3.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Salesforce

A number of hedge funds have recently added to or reduced their stakes in the company. Infrastructure Capital Advisors LLC bought a new stake in shares of Salesforce in the 3rd quarter worth $27,000. Godsey & Gibb Inc. increased its holdings in Salesforce by 300.0% in the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after buying an additional 90 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in Salesforce in the 2nd quarter worth about $33,000. Annapolis Financial Services LLC lifted its stake in Salesforce by 135.6% during the 3rd quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock valued at $38,000 after acquiring an additional 80 shares during the period. Finally, Friedenthal Financial purchased a new stake in shares of Salesforce during the 4th quarter valued at about $55,000. 80.43% of the stock is currently owned by hedge funds and other 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.