Salesforce (NYSE:CRM) Stock Price Up 0.6% – Still a Buy?

Salesforce, Inc. (NYSE:CRM) was up 0.6% during trading on Tuesday . The stock traded as high as $346.93 and last traded at $341.44. Approximately 1,476,057 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 6,003,467 shares. The stock had previously closed at $339.24.

Wall Street Analysts Forecast Growth

CRM has been the topic of a number of recent analyst reports. Cfra set a $343.00 price target on Salesforce in a report on Thursday, October 17th. BMO Capital Markets boosted their price target on shares of Salesforce from $385.00 to $425.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Truist Financial reiterated a “buy” rating and issued a $400.00 price objective (up from $380.00) on shares of Salesforce in a report on Wednesday, December 4th. Wells Fargo & Company boosted their target price on Salesforce from $275.00 to $330.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 12th. Finally, Needham & Company LLC lifted their price target on Salesforce from $375.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $377.63.

Salesforce Trading Up 1.0 %

The business’s 50 day moving average price is $338.67 and its 200-day moving average price is $298.64. The company has a market cap of $327.81 billion, a price-to-earnings ratio of 56.31, a PEG ratio of 3.09 and a beta of 1.31. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.03). The business had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period last year, the company earned $1.62 EPS. On average, research analysts forecast that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 annualized dividend and a yield of 0.47%. Salesforce’s dividend payout ratio is currently 26.32%.

Insider Buying and Selling at Salesforce

In other news, CAO Sundeep G. Reddy sold 436 shares of the firm’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the sale, the chief accounting officer now directly owns 7,057 shares in the company, valued at approximately $2,344,899.96. This trade represents a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider R David Schmaier sold 1,785 shares of the business’s stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $344.00, for a total transaction of $614,040.00. Following the completion of the transaction, the insider now directly owns 19,116 shares of the company’s stock, valued at approximately $6,575,904. This represents a 8.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,104,699 shares of company stock valued at $382,108,847. 3.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Salesforce

Hedge funds and other institutional investors have recently made changes to their positions in the company. Foundations Investment Advisors LLC raised its holdings in Salesforce by 15.0% during the 4th quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock worth $12,194,000 after purchasing an additional 4,752 shares during the last quarter. Nabity Jensen Investment Management Inc bought a new stake in shares of Salesforce during the third quarter worth approximately $1,215,000. Prime Capital Investment Advisors LLC raised its stake in shares of Salesforce by 13.6% during the third quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock worth $15,885,000 after buying an additional 6,938 shares during the last quarter. Aljian Capital Management LLC boosted its stake in Salesforce by 16.1% in the third quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock valued at $3,629,000 after acquiring an additional 1,834 shares during the last quarter. Finally, AIA Group Ltd grew its holdings in Salesforce by 8.9% during the 3rd quarter. AIA Group Ltd now owns 24,028 shares of the CRM provider’s stock worth $6,577,000 after acquiring an additional 1,962 shares during the period. 80.43% of the stock is owned by institutional investors and hedge funds.

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.