Salesforce (NYSE:CRM) Raised to Strong-Buy at Stephens

Salesforce (NYSE:CRM) was upgraded by investment analysts at Stephens to a “strong-buy” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

A number of other research analysts also recently commented on the stock. The Goldman Sachs Group boosted their price objective on shares of Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. KeyCorp raised shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price objective on the stock in a research report on Friday, December 13th. UBS Group boosted their target price on shares of Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Wells Fargo & Company decreased their target price on shares of Salesforce from $345.00 to $310.00 and set an “equal weight” rating for the company in a research report on Thursday, February 27th. Finally, Canaccord Genuity Group decreased their target price on shares of Salesforce from $415.00 to $400.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. One analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and an average target price of $362.74.

Salesforce Stock Performance

Shares of CRM opened at $279.44 on Tuesday. The company’s 50 day moving average price is $315.19 and its 200 day moving average price is $309.50. Salesforce has a 52 week low of $212.00 and a 52 week high of $369.00. The company has a market capitalization of $268.54 billion, a PE ratio of 45.96, a PEG ratio of 2.58 and a beta of 1.35. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

Insider Activity

In related news, COO Brian Millham sold 16,487 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $340.68, for a total value of $5,616,791.16. Following the sale, the chief operating officer now directly owns 1,662 shares in the company, valued at $566,210.16. This trade represents a 90.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $277.37, for a total transaction of $1,725,518.77. Following the completion of the sale, the chief financial officer now owns 46,750 shares in the company, valued at $12,967,047.50. This represents a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 75,609 shares of company stock valued at $24,920,821. 3.20% of the stock is currently owned by insiders.

Institutional Trading of Salesforce

Hedge funds have recently modified their holdings of the company. Bernard Wealth Management Corp. acquired a new stake in shares of Salesforce in the 4th quarter valued at approximately $25,000. Accredited Wealth Management LLC acquired a new stake in Salesforce during the 4th quarter worth approximately $27,000. Arlington Trust Co LLC raised its holdings in Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after buying an additional 40 shares during the period. Compass Financial Services Inc acquired a new stake in Salesforce during the 4th quarter worth approximately $30,000. Finally, Asset Planning Inc acquired a new stake in Salesforce during the 4th quarter worth approximately $31,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

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.