Salesforce (NYSE:CRM) Trading Up 0.4% – Time to Buy?

Salesforce, Inc. (NYSE:CRM)’s share price was up 0.4% on Thursday . The company traded as high as $358.18 and last traded at $356.32. Approximately 1,353,801 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 6,393,424 shares. The stock had previously closed at $354.85.

Analyst Ratings Changes

A number of brokerages recently commented on CRM. Piper Sandler increased their price target on shares of Salesforce from $325.00 to $395.00 and gave the company an “overweight” rating in a report on Monday, December 2nd. BMO Capital Markets lifted their target price on Salesforce from $385.00 to $425.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Raymond James increased their price target on Salesforce from $325.00 to $350.00 and gave the company a “strong-buy” rating in a report on Thursday, August 29th. Erste Group Bank raised shares of Salesforce from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Finally, DA Davidson boosted their price objective on shares of Salesforce from $250.00 to $300.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Eight investment analysts have rated the stock with a hold rating, thirty have given a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $377.24.

Salesforce Stock Performance

The stock has a market cap of $339.07 billion, a P/E ratio of 58.27, a price-to-earnings-growth ratio of 3.21 and a beta of 1.30. 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 firm’s 50 day moving average is $317.48 and its 200 day moving average is $275.57.

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

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th will be paid a dividend of $0.40 per share. The ex-dividend date is Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.45%. Salesforce’s payout ratio is 26.32%.

Insider Activity

In other news, CFO Amy E. Weaver sold 897 shares of the stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $255,905.13. Following the transaction, the chief financial officer now directly owns 52,930 shares of the company’s stock, valued at approximately $15,100,399.70. This represents a 1.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $257.04, for a total value of $1,079,568.00. Following the sale, the insider now directly owns 117,581 shares of the company’s stock, valued at $30,223,020.24. This trade represents a 3.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 138,498 shares of company stock worth $40,983,349 over the last 90 days. 3.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Salesforce

Institutional investors and hedge funds have recently bought and sold shares of the business. Infrastructure Capital Advisors LLC acquired a new position in Salesforce during the third quarter valued at $27,000. Clear Investment Research LLC grew its holdings in Salesforce by 816.7% during the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after acquiring an additional 98 shares during the period. Stephens Consulting LLC raised its position in Salesforce by 3,125.0% during the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 125 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in Salesforce in the second quarter valued at approximately $33,000. Finally, Godsey & Gibb Inc. boosted its position in Salesforce by 300.0% in the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 90 shares in the last quarter. 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.