Salesforce (NYSE:CRM) Trading Up 0.6% – Still a Buy?

Salesforce, Inc. (NYSE:CRM) was up 0.6% during trading on Wednesday . The company traded as high as $332.41 and last traded at $328.73. Approximately 1,787,450 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 5,048,588 shares. The stock had previously closed at $326.84.

Analysts Set New Price Targets

A number of analysts have commented on the company. Truist Financial reissued a “buy” rating and issued a $400.00 target price (up previously from $380.00) on shares of Salesforce in a report on Wednesday, December 4th. Erste Group Bank raised Salesforce from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Scotiabank raised their price objective on shares of Salesforce from $425.00 to $440.00 and gave the stock a “sector outperform” rating in a report on Wednesday, December 4th. DA Davidson upped their target price on shares of Salesforce from $250.00 to $300.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Finally, Needham & Company LLC lifted their price target on shares of Salesforce from $375.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $377.63.

Salesforce Trading Up 1.4 %

The firm has a market capitalization of $317.21 billion, a price-to-earnings ratio of 54.50, a PEG ratio of 2.93 and a beta of 1.30. 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 business’s 50-day simple moving average is $336.68 and its two-hundred day simple moving average is $292.92.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The business had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. During the same quarter last year, the firm posted $1.62 EPS. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. Equities analysts forecast that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were issued a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.48%. Salesforce’s payout ratio is 26.32%.

Insider Activity at Salesforce

In related news, CEO Marc Benioff sold 317,105 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $346.78, for a total transaction of $109,965,671.90. Following the transaction, the chief executive officer now owns 12,162,457 shares of the company’s stock, valued at $4,217,696,838.46. This trade represents a 2.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Brian Millham sold 969 shares of Salesforce stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $286.56, for a total transaction of $277,676.64. The disclosure for this sale can be found here. Insiders have sold 1,172,167 shares of company stock valued at $402,223,235 over the last quarter. 3.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Salesforce

Several institutional investors have recently modified their holdings of CRM. Infrastructure Capital Advisors LLC purchased a new stake in Salesforce in the 3rd quarter valued at approximately $27,000. Godsey & Gibb Inc. lifted its position in shares of Salesforce by 300.0% in the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 90 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in Salesforce during the 2nd quarter worth about $33,000. Annapolis Financial Services LLC raised its stake in Salesforce by 135.6% in the 3rd quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock valued at $38,000 after purchasing an additional 80 shares during the last quarter. Finally, Friedenthal Financial acquired a new position in shares of Salesforce in the fourth quarter valued at approximately $55,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

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.