Salesforce, Inc. (NYSE:CRM) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Salesforce, Inc. (NYSE:CRM) has been given a consensus rating of “Moderate Buy” by the forty-two analysts that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, thirty-one have assigned a buy recommendation and five have issued a strong buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $361.42.

A number of equities research analysts have commented on CRM shares. Stephens initiated coverage on shares of Salesforce in a research note on Wednesday, March 19th. They set an “equal weight” rating and a $311.00 target price on the stock. Jefferies Financial Group decreased their price objective on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. TD Cowen raised shares of Salesforce from a “hold” rating to a “buy” rating and upped their target price for the stock from $380.00 to $400.00 in a report on Friday, January 17th. Needham & Company LLC reiterated a “buy” rating and issued a $400.00 price target on shares of Salesforce in a research note on Thursday, February 27th. Finally, Canaccord Genuity Group lowered their price objective on Salesforce from $415.00 to $400.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th.

Insider Transactions at Salesforce

In other news, CFO Amy E. Weaver sold 897 shares of the company’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $298,055.16. Following the transaction, the chief financial officer now directly owns 46,750 shares in the company, valued at approximately $15,534,090. This represents a 1.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Sundeep G. Reddy sold 436 shares of Salesforce stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $144,874.08. Following the sale, the chief accounting officer now owns 7,057 shares of the company’s stock, valued at $2,344,899.96. The trade was a 5.82 % decrease in their position. 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. 3.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CRM. Norges Bank purchased a new stake in shares of Salesforce in the 4th quarter worth $3,599,867,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in Salesforce by 926.4% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,256,211 shares of the CRM provider’s stock worth $1,422,979,000 after acquiring an additional 3,841,521 shares during the period. GAMMA Investing LLC grew its holdings in Salesforce by 30,456.9% during the 1st quarter. GAMMA Investing LLC now owns 3,801,588 shares of the CRM provider’s stock worth $1,020,194,000 after acquiring an additional 3,789,147 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Salesforce during the 4th quarter valued at about $1,173,564,000. Finally, Invesco Ltd. raised its holdings in shares of Salesforce by 42.5% in the 4th quarter. Invesco Ltd. now owns 7,791,015 shares of the CRM provider’s stock valued at $2,604,770,000 after purchasing an additional 2,325,156 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Up 1.4 %

NYSE CRM opened at $244.16 on Tuesday. Salesforce has a 52 week low of $212.00 and a 52 week high of $369.00. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $234.63 billion, a P/E ratio of 40.16, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. The stock’s 50-day moving average price is $300.39 and its 200-day moving average price is $311.65.

Salesforce Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 0.69%. The ex-dividend date is Thursday, April 10th. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s payout ratio is 26.10%.

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.