Salesforce (NYSE:CRM) Trading 3.5% Higher – Still a Buy?

Shares of Salesforce, Inc. (NYSE:CRM) traded up 3.5% during trading on Monday . The company traded as high as $286.82 and last traded at $285.15. 1,856,280 shares were traded during mid-day trading, a decline of 73% from the average session volume of 6,828,654 shares. The stock had previously closed at $275.42.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Loop Capital dropped their price target on Salesforce from $330.00 to $300.00 and set a “hold” rating for the company in a research note on Thursday, February 27th. Oppenheimer dropped their price target on Salesforce from $415.00 to $380.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. Needham & Company LLC reissued a “buy” rating and set a $400.00 target price on shares of Salesforce in a research note on Friday, April 25th. Redburn Atlantic assumed coverage on Salesforce in a research note on Wednesday, February 19th. They set a “buy” rating for the company. Finally, Wells Fargo & Company lowered their target price on Salesforce from $310.00 to $255.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have issued a buy rating and five have given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $350.56.

Salesforce Trading Up 4.8%

The company has a market cap of $277.48 billion, a price-to-earnings ratio of 47.47, a P/E/G ratio of 2.58 and a beta of 1.42. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm’s 50-day moving average price is $267.33 and its 200 day moving average price is $307.36.

Salesforce Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were issued a $0.42 dividend. This is a boost from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date of this dividend was Thursday, April 10th. Salesforce’s dividend payout ratio (DPR) is currently 26.10%.

Insider Buying and Selling

In other Salesforce news, insider R David Schmaier sold 6,959 shares of the firm’s stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total transaction of $1,762,784.29. Following the transaction, the insider now directly owns 36,090 shares in the company, valued at approximately $9,141,957.90. This trade represents a 16.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Sundeep G. Reddy sold 1,909 shares of the firm’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $284.58, for a total value of $543,263.22. Following the transaction, the chief accounting officer now owns 11,310 shares in the company, valued at approximately $3,218,599.80. This trade represents a 14.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 45,830 shares of company stock worth $12,907,361 in the last ninety days. Corporate 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 CRM. Bernard Wealth Management Corp. purchased a new stake in Salesforce in the 4th quarter worth about $25,000. Accredited Wealth Management LLC purchased a new stake in Salesforce in the 4th quarter worth about $27,000. Arlington Trust Co LLC increased its holdings in Salesforce by 85.1% in the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after acquiring an additional 40 shares during the last quarter. Compass Financial Services Inc purchased a new stake in Salesforce in the 4th quarter worth about $30,000. Finally, Asset Planning Inc purchased a new stake in Salesforce in the 4th quarter worth about $31,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

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.