Salesforce (NYSE:CRM) Shares Up 0%

Salesforce, Inc. (NYSE:CRM)’s share price rose 0% on Thursday . The stock traded as high as $255.42 and last traded at $252.64. Approximately 1,313,899 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 6,912,188 shares. The stock had previously closed at $252.59.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CRM. Sanford C. Bernstein boosted their price target on shares of Salesforce from $231.00 to $234.00 and gave the company an “underperform” rating in a report on Thursday, May 30th. Oppenheimer dropped their price objective on Salesforce from $325.00 to $280.00 and set an “outperform” rating on the stock in a report on Thursday, May 30th. BMO Capital Markets reduced their target price on shares of Salesforce from $335.00 to $265.00 and set an “outperform” rating for the company in a research note on Thursday, May 30th. Robert W. Baird dropped their price target on shares of Salesforce from $355.00 to $295.00 and set an “outperform” rating on the stock in a research note on Thursday, May 30th. Finally, Barclays reduced their price objective on shares of Salesforce from $355.00 to $305.00 and set an “overweight” rating for the company in a research note on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $292.79.

Salesforce Stock Performance

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 firm has a 50-day moving average of $257.24 and a 200 day moving average of $276.07. The stock has a market capitalization of $243.34 billion, a P/E ratio of 45.44, a PEG ratio of 2.26 and a beta of 1.29.

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

Salesforce Announces Dividend

The business also recently disclosed 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. The ex-dividend date is Tuesday, July 9th. This represents a $1.60 annualized dividend and a dividend yield of 0.64%. Salesforce’s dividend payout ratio is currently 28.78%.

Insider Buying and Selling

In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction on Friday, April 12th. The stock was sold at an average price of $295.74, for a total transaction of $4,436,100.00. Following the completion of the transaction, the chief executive officer now directly owns 12,928,721 shares in the company, valued at $3,823,539,948.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $295.74, for a total value of $4,436,100.00. Following the sale, the chief executive officer now directly owns 12,928,721 shares in the company, valued at approximately $3,823,539,948.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider R David Schmaier sold 3,910 shares of the company’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $274.77, for a total transaction of $1,074,350.70. Following the completion of the sale, the insider now directly owns 19,463 shares of the company’s stock, valued at approximately $5,347,848.51. The disclosure for this sale can be found here. Insiders sold 454,152 shares of company stock worth $122,552,011 in the last 90 days. 3.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CRM. U.S. Capital Wealth Advisors LLC grew its position in shares of Salesforce by 1.3% in the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 7,125 shares of the CRM provider’s stock valued at $1,832,000 after purchasing an additional 94 shares during the period. Talbot Financial LLC raised its holdings in shares of Salesforce by 3.6% during the second quarter. Talbot Financial LLC now owns 61,607 shares of the CRM provider’s stock worth $15,839,000 after acquiring an additional 2,116 shares during the period. Jamison Private Wealth Management Inc. lifted its position in Salesforce by 2.0% in the 2nd quarter. Jamison Private Wealth Management Inc. now owns 6,398 shares of the CRM provider’s stock valued at $1,645,000 after acquiring an additional 127 shares in the last quarter. Prentice Wealth Management LLC boosted its stake in Salesforce by 2.2% in the 2nd quarter. Prentice Wealth Management LLC now owns 2,469 shares of the CRM provider’s stock worth $635,000 after purchasing an additional 53 shares during the period. Finally, Strategic Advocates LLC raised its stake in shares of Salesforce by 8.6% in the 2nd quarter. Strategic Advocates LLC now owns 10,943 shares of the CRM provider’s stock valued at $2,813,000 after purchasing an additional 863 shares during the period. 80.43% of the stock is owned by institutional investors and hedge funds.

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.