Salesforce, Inc. (NYSE:CRM) CAO Sundeep G. Reddy Sells 65 Shares

Salesforce, Inc. (NYSE:CRM) CAO Sundeep G. Reddy sold 65 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $264.78, for a total transaction of $17,210.70. Following the transaction, the chief accounting officer now directly owns 6,509 shares of the company’s stock, valued at $1,723,453.02. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Salesforce Trading Up 1.3 %

Shares of CRM stock opened at $274.09 on Thursday. Salesforce, Inc. has a twelve month low of $193.68 and a twelve month high of $318.71. The stock has a market cap of $262.03 billion, a price-to-earnings ratio of 49.30, a PEG ratio of 2.39 and a beta of 1.29. The company’s 50-day moving average price is $254.66 and its 200-day moving average price is $265.66. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.20. The business had revenue of $9.33 billion during the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.63 EPS. As a group, equities analysts predict that Salesforce, Inc. will post 7.54 earnings per share for the current year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend is Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is presently 28.78%.

Hedge Funds Weigh In On Salesforce

A number of hedge funds have recently modified their holdings of the business. Fox Hill Wealth Management lifted its position in Salesforce by 4.0% in the first quarter. Fox Hill Wealth Management now owns 985 shares of the CRM provider’s stock valued at $297,000 after buying an additional 38 shares during the last quarter. Pinnacle Wealth Planning Services Inc. lifted its holdings in shares of Salesforce by 0.8% in the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 4,946 shares of the CRM provider’s stock worth $1,490,000 after acquiring an additional 38 shares during the last quarter. Glassman Wealth Services boosted its position in shares of Salesforce by 2.9% during the 4th quarter. Glassman Wealth Services now owns 1,369 shares of the CRM provider’s stock worth $360,000 after purchasing an additional 39 shares during the period. Blue Barn Wealth LLC boosted its position in shares of Salesforce by 1.8% during the 1st quarter. Blue Barn Wealth LLC now owns 2,207 shares of the CRM provider’s stock worth $665,000 after purchasing an additional 39 shares during the period. Finally, Catalyst Financial Partners LLC raised its position in Salesforce by 0.8% in the second quarter. Catalyst Financial Partners LLC now owns 4,876 shares of the CRM provider’s stock valued at $1,254,000 after purchasing an additional 39 shares during the period. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CRM has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a research note on Thursday, May 30th. Wedbush reiterated an “outperform” rating and set a $315.00 price objective on shares of Salesforce in a research note on Thursday, August 29th. Morgan Stanley boosted their price objective on Salesforce from $320.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Mizuho dropped their target price on Salesforce from $345.00 to $300.00 and set a “buy” rating on the stock in a report on Thursday, May 30th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $300.00 price target on shares of Salesforce in a report on Thursday, September 19th. Eight investment analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $307.73.

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.