Salesforce (NYSE:CRM) Stock Price Up 0.9%

Salesforce, Inc. (NYSE:CRM) was up 0.9% on Tuesday . The company traded as high as $257.33 and last traded at $256.49. Approximately 1,091,352 shares traded hands during trading, a decline of 84% from the average daily volume of 6,810,808 shares. The stock had previously closed at $254.08.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Salesforce from $310.00 to $300.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. Robert W. Baird decreased their price objective on shares of Salesforce from $355.00 to $295.00 and set an “outperform” rating on the stock in a report on Thursday, May 30th. UBS Group dropped their target price on shares of Salesforce from $310.00 to $250.00 and set a “neutral” rating for the company in a report on Thursday, May 30th. Sanford C. Bernstein upped their price target on Salesforce from $231.00 to $234.00 and gave the stock an “underperform” rating in a research note on Thursday, May 30th. Finally, Evercore ISI dropped their price objective on Salesforce from $330.00 to $300.00 and set an “outperform” rating for the company in a research note on Thursday, May 30th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus price target of $292.79.

Salesforce Price Performance

The company’s 50-day simple moving average is $252.22 and its 200-day simple moving average is $275.50. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market capitalization of $248.58 billion, a PE ratio of 46.14, a P/E/G ratio of 2.25 and a beta of 1.29.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.38 by $0.06. The firm had revenue of $9.13 billion for the quarter, compared to analyst estimates of $9.15 billion. Salesforce had a return on equity of 11.57% and a net margin of 15.30%. During the same quarter last year, the company posted $1.15 earnings per share. The business’s revenue was up 10.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Salesforce, Inc. will post 7.47 earnings per share for the current year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Tuesday, July 9th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.62%. The ex-dividend date is Tuesday, July 9th. Salesforce’s dividend payout ratio (DPR) is presently 28.78%.

Insider Transactions at Salesforce

In other Salesforce news, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $275.07, for a total value of $4,126,050.00. Following the sale, the chief executive officer now owns 12,752,327 shares of the company’s stock, valued at approximately $3,507,782,587.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $275.07, for a total value of $4,126,050.00. Following the completion of the sale, the chief executive officer now owns 12,752,327 shares of the company’s stock, valued at $3,507,782,587.89. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Sundeep G. Reddy sold 413 shares of the business’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total transaction of $105,637.14. Following the sale, the chief accounting officer now owns 6,431 shares in the company, valued at $1,644,921.18. The disclosure for this sale can be found here. Insiders have sold a total of 339,242 shares of company stock worth $90,405,271 over the last ninety days. 3.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Ruedi Wealth Management Inc. boosted its position in Salesforce by 186.7% during the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after purchasing an additional 56 shares in the last quarter. Bear Mountain Capital Inc. purchased a new stake in shares of Salesforce in the 4th quarter worth about $26,000. Signature Resources Capital Management LLC acquired a new stake in Salesforce in the 4th quarter valued at about $26,000. Piscataqua Savings Bank increased its holdings in Salesforce by 2,400.0% during the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after acquiring an additional 96 shares in the last quarter. Finally, Red Tortoise LLC purchased a new stake in shares of Salesforce in the first quarter valued at about $33,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

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.