Salesforce (NYSE:CRM) Trading Down 0.6% – What’s Next?

Salesforce, Inc. (NYSE:CRM)’s stock price traded down 0.6% on Monday . The stock traded as low as $322.81 and last traded at $323.15. 775,105 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 6,294,865 shares. The stock had previously closed at $325.26.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CRM. Wells Fargo & Company boosted their price target on shares of Salesforce from $275.00 to $330.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 12th. BMO Capital Markets boosted their target price on Salesforce from $305.00 to $385.00 and gave the stock an “outperform” rating in a research report on Friday, November 15th. Evercore ISI reissued an “outperform” rating and issued a $300.00 price target on shares of Salesforce in a report on Monday, August 26th. Jefferies Financial Group upped their price objective on Salesforce from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Finally, Citigroup raised their target price on Salesforce from $260.00 to $290.00 and gave the company a “neutral” rating in a report on Monday, August 26th. Eight investment analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $326.19.

Salesforce Stock Up 0.3 %

The firm has a 50 day moving average price of $289.68 and a two-hundred day moving average price of $267.31. The firm has a market capitalization of $309.07 billion, a price-to-earnings ratio of 56.22, a price-to-earnings-growth ratio of 2.94 and a beta of 1.29. 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 released its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The company had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same period in the previous year, the firm earned $1.63 earnings per share. Salesforce’s revenue for the quarter was up 8.5% on a year-over-year basis. On average, equities analysts expect that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 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, September 18th. Salesforce’s dividend payout ratio is presently 27.83%.

Insider Activity

In related news, insider Parker Harris sold 3,970 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $296.74, for a total transaction of $1,178,057.80. Following the completion of the sale, the insider now directly owns 119,402 shares of the company’s stock, valued at approximately $35,431,349.48. This trade represents a 3.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $117,824.77. Following the sale, the chief accounting officer now directly owns 7,006 shares in the company, valued at $1,998,741.74. This trade represents a 5.57 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 140,173 shares of company stock worth $40,146,206. 3.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Salesforce

A number of hedge funds have recently bought and sold shares of CRM. Piscataqua Savings Bank increased its position in shares of Salesforce by 2,400.0% in the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after purchasing an additional 96 shares during the last quarter. Infrastructure Capital Advisors LLC acquired a new stake in Salesforce during the third quarter valued at approximately $27,000. Clear Investment Research LLC lifted its holdings in Salesforce by 816.7% during the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after buying an additional 98 shares during the last quarter. Godsey & Gibb Inc. grew its position in shares of Salesforce by 300.0% in the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 90 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL bought a new stake in shares of Salesforce in the 2nd quarter valued at approximately $33,000. 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.