Salesforce (NYSE:CRM) Trading 0.5% Higher After Analyst Upgrade

Salesforce, Inc. (NYSE:CRM) shares traded up 0.5% during trading on Thursday after Needham & Company LLC raised their price target on the stock from $375.00 to $400.00. Needham & Company LLC currently has a buy rating on the stock. Salesforce traded as high as $328.80 and last traded at $326.67. 3,787,103 shares changed hands during trading, a decline of 18% from the average session volume of 4,624,980 shares. The stock had previously closed at $324.93.

Several other equities analysts also recently commented on CRM. BMO Capital Markets raised their target price on Salesforce from $385.00 to $425.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Erste Group Bank raised Salesforce from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Barclays upped their target price on shares of Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. TD Cowen lifted their price target on shares of Salesforce from $290.00 to $340.00 and gave the company a “hold” rating in a report on Thursday, November 21st. Finally, Cfra set a $343.00 price objective on shares of Salesforce in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty have issued a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and an average price target of $376.05.

Insider Activity

In other news, insider R David Schmaier sold 1,785 shares of Salesforce 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 transaction, the insider now owns 19,116 shares in the company, valued at $6,575,904. The trade was a 8.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Amy E. Weaver sold 897 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $255,905.13. Following the sale, the chief financial officer now directly owns 52,930 shares of the company’s stock, valued at approximately $15,100,399.70. The trade was a 1.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,181,817 shares of company stock valued at $404,760,429 in the last ninety days. 3.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. LPL Financial LLC lifted its holdings in shares of Salesforce by 4.8% in the second quarter. LPL Financial LLC now owns 909,821 shares of the CRM provider’s stock valued at $233,915,000 after purchasing an additional 41,630 shares in the last quarter. Fortune Financial Advisors LLC lifted its stake in Salesforce by 7.0% in the 2nd quarter. Fortune Financial Advisors LLC now owns 1,349 shares of the CRM provider’s stock valued at $347,000 after acquiring an additional 88 shares in the last quarter. Campbell Wealth Management boosted its position in Salesforce by 29.8% during the 2nd quarter. Campbell Wealth Management now owns 871 shares of the CRM provider’s stock worth $224,000 after acquiring an additional 200 shares during the last quarter. Forsta AP Fonden raised its holdings in shares of Salesforce by 3.9% in the second quarter. Forsta AP Fonden now owns 250,647 shares of the CRM provider’s stock valued at $64,441,000 after purchasing an additional 9,500 shares during the last quarter. Finally, Achmea Investment Management B.V. lifted its position in shares of Salesforce by 2.2% in the second quarter. Achmea Investment Management B.V. now owns 87,120 shares of the CRM provider’s stock worth $22,399,000 after purchasing an additional 1,863 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Stock Performance

The firm has a market cap of $312.62 billion, a P/E ratio of 53.73, a price-to-earnings-growth ratio of 3.21 and a beta of 1.30. The stock’s 50-day moving average price is $335.36 and its 200 day moving average price is $288.53. 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 posted its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The business had revenue of $9.44 billion for 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 company’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.62 earnings per share. As a group, equities analysts predict 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. Stockholders of record on Wednesday, December 18th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date was Wednesday, December 18th. Salesforce’s dividend payout ratio is currently 26.32%.

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.