Salesforce (NYSE:CRM) Shares Up 1.4% – Here’s What Happened

Salesforce, Inc. (NYSE:CRM)’s stock price rose 1.4% during mid-day trading on Thursday . The stock traded as high as $325.89 and last traded at $325.51. Approximately 995,132 shares changed hands during trading, a decline of 79% from the average daily volume of 4,699,344 shares. The stock had previously closed at $321.16.

Analyst Upgrades and Downgrades

CRM has been the subject of several research reports. Northland Capmk raised Salesforce from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 2nd. Stifel Nicolaus boosted their price objective on Salesforce from $390.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Needham & Company LLC upped their target price on shares of Salesforce from $375.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Oppenheimer reiterated an “outperform” rating and set a $415.00 price target (up previously from $385.00) on shares of Salesforce in a research report on Wednesday, December 4th. Finally, Canaccord Genuity Group raised their price objective on shares of Salesforce from $315.00 to $415.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty have issued a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and a consensus target price of $376.05.

Salesforce Stock Up 0.5 %

The firm has a market capitalization of $308.81 billion, a P/E ratio of 53.05, a PEG ratio of 2.87 and a beta of 1.30. The firm’s 50 day moving average is $336.76 and its two-hundred day moving average is $290.66. 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 (NYSE:CRM) last released its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. During the same quarter in the prior year, the firm earned $1.62 earnings per share. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. Research analysts predict that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date was Wednesday, December 18th. Salesforce’s payout ratio is presently 26.32%.

Insider Buying and Selling at Salesforce

In related news, COO Brian Millham sold 6,161 shares of Salesforce stock in a transaction that occurred on 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 completion of the sale, the chief operating officer now directly owns 969 shares of the company’s stock, valued at approximately $280,767.75. This trade represents a 86.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Amy E. Weaver sold 897 shares of the company’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $255,905.13. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,177,617 shares of company stock valued at $403,542,975 in the last quarter. 3.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Salesforce

A number of institutional investors have recently modified their holdings of the business. Infrastructure Capital Advisors LLC bought a new stake in Salesforce in the 3rd quarter valued at about $27,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Salesforce in the second quarter valued at approximately $33,000. Godsey & Gibb Inc. boosted its stake in shares of Salesforce by 300.0% in the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after buying an additional 90 shares during the period. Annapolis Financial Services LLC grew its position in Salesforce by 135.6% during the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock worth $38,000 after buying an additional 80 shares in the last quarter. Finally, FSA Wealth Management LLC bought a new position in Salesforce during the 3rd quarter worth $53,000. Institutional investors own 80.43% of the company’s stock.

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.