Salesforce (NYSE:CRM) Stock Price Up 0.4% – What’s Next?

Salesforce, Inc. (NYSE:CRM) shares shot up 0.4% during mid-day trading on Monday . The company traded as high as $358.07 and last traded at $355.63. 1,584,337 shares traded hands during mid-day trading, a decline of 75% from the average session volume of 6,386,592 shares. The stock had previously closed at $354.31.

Analyst Ratings Changes

A number of analysts have recently weighed in on CRM shares. JMP Securities reissued a “market outperform” rating and set a $450.00 price target on shares of Salesforce in a research report on Tuesday, December 3rd. Canaccord Genuity Group increased their price target on shares of Salesforce from $315.00 to $415.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Northland Capmk raised Salesforce from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 2nd. Stifel Nicolaus increased their target price on Salesforce from $390.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Citigroup boosted their price target on Salesforce from $368.00 to $390.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Eight analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, Salesforce has an average rating of “Moderate Buy” and a consensus price target of $377.24.

Salesforce Stock Performance

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 capitalization of $341.87 billion, a PE ratio of 58.49, a P/E/G ratio of 3.21 and a beta of 1.30. The firm has a fifty day moving average price of $317.48 and a 200 day moving average price of $275.64.

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 firm had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. Salesforce’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.62 earnings per share. Research analysts anticipate that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.45%. The ex-dividend date is Wednesday, December 18th. Salesforce’s payout ratio is 26.32%.

Insider Activity

In other Salesforce news, insider Miguel Milano sold 719 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $342.81, for a total value of $246,480.39. Following the transaction, the insider now owns 4,659 shares in the company, valued at approximately $1,597,151.79. This represents a 13.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Sundeep G. Reddy sold 413 shares of the business’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total transaction of $117,824.77. Following the transaction, the chief accounting officer now owns 7,006 shares in the company, valued at approximately $1,998,741.74. This represents a 5.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 138,498 shares of company stock worth $40,983,349 over the last quarter. Corporate insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Salesforce

Hedge funds have recently added to or reduced their stakes in the company. Aviance Capital Partners LLC increased its stake in shares of Salesforce by 0.5% during the 3rd quarter. Aviance Capital Partners LLC now owns 6,797 shares of the CRM provider’s stock worth $1,860,000 after purchasing an additional 33 shares during the last quarter. EWA LLC boosted its holdings in Salesforce by 1.7% in the third quarter. EWA LLC now owns 2,001 shares of the CRM provider’s stock worth $548,000 after purchasing an additional 33 shares in the last quarter. Umpqua Bank increased its position in Salesforce by 0.4% during the third quarter. Umpqua Bank now owns 7,708 shares of the CRM provider’s stock worth $2,110,000 after buying an additional 34 shares during the last quarter. Principal Street Partners LLC raised its holdings in Salesforce by 1.0% during the third quarter. Principal Street Partners LLC now owns 3,297 shares of the CRM provider’s stock valued at $891,000 after buying an additional 34 shares in the last quarter. Finally, Nvwm LLC lifted its position in shares of Salesforce by 1.4% in the third quarter. Nvwm LLC now owns 2,565 shares of the CRM provider’s stock worth $667,000 after buying an additional 36 shares during the last quarter. Institutional investors and hedge funds 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.