Salesforce (NYSE:CRM) Stock Price Up 1.4% – Time to Buy?

Shares of Salesforce, Inc. (NYSE:CRM) traded up 1.4% during mid-day trading on Monday . The stock traded as high as $260.00 and last traded at $258.54. 1,757,481 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 6,804,271 shares. The stock had previously closed at $255.00.

Analyst Ratings Changes

Several analysts recently commented on the company. Oppenheimer dropped their target price on Salesforce from $415.00 to $380.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. TD Cowen raised shares of Salesforce from a “hold” rating to a “buy” rating and raised their price objective for the stock from $380.00 to $400.00 in a research note on Friday, January 17th. Wedbush reiterated an “outperform” rating and issued a $425.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. BMO Capital Markets reiterated an “outperform” rating on shares of Salesforce in a research report on Wednesday, March 19th. Finally, Needham & Company LLC restated a “buy” rating and set a $400.00 target price on shares of Salesforce in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the company’s stock. According to MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and an average target price of $361.42.

Salesforce Trading Up 0.4 %

The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market cap of $246.13 billion, a PE ratio of 42.13, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. The company’s 50 day moving average price is $289.29 and its 200 day moving average price is $310.70.

Salesforce Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th will be paid a $0.42 dividend. This is an increase from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 10th. This represents a $1.68 annualized dividend and a dividend yield of 0.66%. Salesforce’s payout ratio is 26.10%.

Insider Activity

In other news, CAO Sundeep G. Reddy sold 436 shares of Salesforce stock in a transaction dated 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 transaction, the chief accounting officer now owns 7,057 shares in the company, valued at approximately $2,344,899.96. This trade represents a 5.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Amy E. Weaver sold 897 shares of the company’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $298,055.16. Following the sale, the chief financial officer now owns 46,750 shares in the company, valued at $15,534,090. The trade was a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 45,660 shares of company stock worth $14,095,336. Corporate insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Salesforce

Several institutional investors have recently modified their holdings of CRM. Bernard Wealth Management Corp. acquired a new position in shares of Salesforce during the 4th quarter worth about $25,000. Accredited Wealth Management LLC purchased a new position in Salesforce in the fourth quarter valued at approximately $27,000. Arlington Trust Co LLC lifted its position in shares of Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after buying an additional 40 shares during the last quarter. Compass Financial Services Inc purchased a new stake in shares of Salesforce during the 4th quarter worth approximately $30,000. Finally, Asset Planning Inc acquired a new position in shares of Salesforce in the 4th quarter valued at $31,000. 80.43% of the stock is 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.