Salesforce, Inc. (NYSE:CRM) Given Average Rating of “Moderate Buy” by Analysts

Salesforce, Inc. (NYSE:CRM) has been given an average recommendation of “Moderate Buy” by the forty-three research firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have given a buy rating and five have issued a strong buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $350.56.

Several research analysts have issued reports on the stock. Macquarie restated a “neutral” rating and set a $320.00 price target on shares of Salesforce in a report on Thursday, March 20th. Loop Capital decreased their target price on Salesforce from $330.00 to $300.00 and set a “hold” rating for the company in a research note on Thursday, February 27th. BMO Capital Markets reiterated an “outperform” rating on shares of Salesforce in a research report on Wednesday, March 19th. Stephens assumed coverage on Salesforce in a report on Wednesday, March 19th. They issued an “equal weight” rating and a $311.00 target price on the stock. Finally, DA Davidson reiterated an “underperform” rating and set a $200.00 price target on shares of Salesforce in a research note on Monday, April 21st.

Salesforce Price Performance

CRM stock opened at $275.21 on Friday. The company has a market capitalization of $264.58 billion, a P/E ratio of 45.26, a PEG ratio of 2.58 and a beta of 1.38. The company has a fifty day moving average price of $269.34 and a 200-day moving average price of $307.58. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. Salesforce has a 52-week low of $212.00 and a 52-week high of $369.00.

Salesforce Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were given a dividend of $0.42 per share. The ex-dividend date was Thursday, April 10th. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a yield of 0.61%. Salesforce’s payout ratio is presently 26.10%.

Insider Activity at Salesforce

In other news, CAO Sundeep G. Reddy sold 500 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $335.94, for a total value of $167,970.00. Following the completion of the transaction, the chief accounting officer now owns 6,557 shares of the company’s stock, valued at approximately $2,202,758.58. This represents a 7.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $335.94, for a total transaction of $2,089,882.74. Following the transaction, the chief financial officer now owns 46,750 shares of the company’s stock, valued at $15,705,195. The trade was a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 52,051 shares of company stock valued at $15,027,714 over the last 90 days. 3.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CRM. Saturna Capital Corp lifted its position in shares of Salesforce by 0.9% in the first quarter. Saturna Capital Corp now owns 6,941 shares of the CRM provider’s stock valued at $1,863,000 after acquiring an additional 63 shares in the last quarter. Carson Advisory Inc. grew its holdings in Salesforce by 6.0% during the 1st quarter. Carson Advisory Inc. now owns 2,147 shares of the CRM provider’s stock valued at $576,000 after buying an additional 121 shares in the last quarter. Burling Wealth Partners LLC raised its position in shares of Salesforce by 7.0% during the first quarter. Burling Wealth Partners LLC now owns 19,778 shares of the CRM provider’s stock valued at $5,308,000 after buying an additional 1,286 shares during the last quarter. Forte Capital LLC ADV lifted its holdings in shares of Salesforce by 12.0% in the first quarter. Forte Capital LLC ADV now owns 921 shares of the CRM provider’s stock worth $247,000 after buying an additional 99 shares in the last quarter. Finally, Kingsview Wealth Management LLC boosted its position in shares of Salesforce by 13.7% during the first quarter. Kingsview Wealth Management LLC now owns 152,467 shares of the CRM provider’s stock worth $40,916,000 after acquiring an additional 18,350 shares during the last quarter. Institutional investors 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.