Salesforce (NYSE:CRM) Trading 0.5% Higher – Here’s What Happened

Shares of Salesforce, Inc. (NYSE:CRM) traded up 0.5% during trading on Monday . The stock traded as high as $336.60 and last traded at $334.62. 1,515,588 shares were traded during trading, a decline of 56% from the average session volume of 3,419,230 shares. The stock had previously closed at $332.90.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. DA Davidson lifted their price objective on shares of Salesforce from $250.00 to $300.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Morgan Stanley lifted their price target on Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Scotiabank increased their price target on Salesforce from $425.00 to $440.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, December 4th. Barclays upped their target price on Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Finally, Robert W. Baird lifted their price target on shares of Salesforce from $340.00 to $430.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty have issued a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and a consensus price target of $376.05.

Salesforce Trading Up 0.5 %

The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock has a market cap of $312.62 billion, a PE ratio of 53.73, a P/E/G ratio of 3.21 and a beta of 1.30. The business’s fifty day moving average is $334.05 and its 200 day moving average is $287.99.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The firm 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 was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.62 EPS. As a group, analysts predict that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend is Wednesday, December 18th. Salesforce’s payout ratio is currently 26.32%.

Insider Buying and Selling at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 897 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $255,905.13. Following the transaction, the chief financial officer now directly owns 52,930 shares in the company, valued at approximately $15,100,399.70. This represents a 1.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Brian Millham sold 6,161 shares of Salesforce stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $289.75, for a total transaction of $1,785,149.75. Following the sale, the chief operating officer now owns 969 shares of the company’s stock, valued at approximately $280,767.75. This trade represents a 86.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,181,817 shares of company stock valued at $404,760,429 over the last quarter. Corporate insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Salesforce

Hedge funds have recently made changes to their positions in the business. HCR Wealth Advisors increased its holdings in shares of Salesforce by 5.0% during the 2nd quarter. HCR Wealth Advisors now owns 1,238 shares of the CRM provider’s stock worth $318,000 after buying an additional 59 shares during the last quarter. Liberty Wealth Management LLC raised its holdings in shares of Salesforce by 978.9% in the 2nd quarter. Liberty Wealth Management LLC now owns 8,890 shares of the CRM provider’s stock worth $2,286,000 after purchasing an additional 8,066 shares during the period. LGT Group Foundation lifted its stake in shares of Salesforce by 11.9% in the 2nd quarter. LGT Group Foundation now owns 13,638 shares of the CRM provider’s stock valued at $3,506,000 after purchasing an additional 1,450 shares in the last quarter. LGT Fund Management Co Ltd. grew its holdings in shares of Salesforce by 316.2% during the 2nd quarter. LGT Fund Management Co Ltd. now owns 35,587 shares of the CRM provider’s stock worth $9,149,000 after purchasing an additional 27,037 shares during the period. Finally, Global X Japan Co. Ltd. acquired a new stake in Salesforce during the 2nd quarter worth approximately $1,551,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Company Profile

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.