Salesforce (NYSE:CRM) Trading 0.9% Higher

Salesforce, Inc. (NYSE:CRM - Get Free Report)'s stock price was up 0.9% during mid-day trading on Wednesday . The company traded as high as $279.94 and last traded at $279.66. Approximately 903,366 shares traded hands during trading, a decline of 83% from the average daily volume of 5,473,361 shares. The stock had previously closed at $277.18.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. BMO Capital Markets upped their price target on shares of Salesforce from $325.00 to $335.00 and gave the company an "outperform" rating in a report on Thursday, February 29th. Oppenheimer raised their target price on shares of Salesforce from $300.00 to $325.00 and gave the stock an "outperform" rating in a report on Monday, February 12th. Wolfe Research reaffirmed an "outperform" rating and issued a $365.00 price target on shares of Salesforce in a report on Tuesday, April 16th. StockNews.com lowered Salesforce from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, March 19th. Finally, Piper Sandler reaffirmed a "neutral" rating and set a $300.00 target price on shares of Salesforce in a research report on Monday, April 15th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $310.61.

Salesforce Stock Performance

The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The stock has a market cap of $269.93 billion, a P/E ratio of 66.39, a price-to-earnings-growth ratio of 2.10 and a beta of 1.30. The firm's 50-day moving average is $293.29 and its two-hundred day moving average is $267.99.

Salesforce (NYSE:CRM - Get Free Report) last released its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, beating analysts' consensus estimates of $1.72 by $0.06. The business had revenue of $9.29 billion for the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. Salesforce's revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.01 EPS. As a group, research analysts expect that Salesforce, Inc. will post 7.45 EPS for the current year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 14th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date was Wednesday, March 13th. Salesforce's payout ratio is 9.52%.

Insider Buying and Selling

In other Salesforce news, insider Parker Harris sold 4,200 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $277.22, for a total transaction of $1,164,324.00. Following the transaction, the insider now owns 115,762 shares in the company, valued at $32,091,541.64. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Parker Harris sold 4,200 shares of the firm's stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $277.22, for a total value of $1,164,324.00. Following the sale, the insider now directly owns 115,762 shares of the company's stock, valued at $32,091,541.64. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Sundeep G. Reddy sold 2,425 shares of Salesforce stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $273.15, for a total value of $662,388.75. Following the completion of the transaction, the chief accounting officer now owns 5,856 shares in the company, valued at $1,599,566.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 624,193 shares of company stock worth $182,212,898. 3.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Salesforce

Several hedge funds have recently modified their holdings of CRM. Graypoint LLC grew its position in Salesforce by 0.3% in the 4th quarter. Graypoint LLC now owns 10,504 shares of the CRM provider's stock worth $2,764,000 after purchasing an additional 36 shares during the last quarter. Chase Investment Counsel Corp increased its stake in Salesforce by 0.3% during the fourth quarter. Chase Investment Counsel Corp now owns 10,377 shares of the CRM provider's stock valued at $2,730,000 after acquiring an additional 36 shares during the period. JFS Wealth Advisors LLC increased its stake in Salesforce by 11.4% during the fourth quarter. JFS Wealth Advisors LLC now owns 353 shares of the CRM provider's stock valued at $93,000 after acquiring an additional 36 shares during the period. Opes Wealth Management LLC raised its holdings in Salesforce by 2.9% in the 4th quarter. Opes Wealth Management LLC now owns 1,295 shares of the CRM provider's stock valued at $341,000 after acquiring an additional 37 shares in the last quarter. Finally, Prentice Wealth Management LLC lifted its position in shares of Salesforce by 1.7% in the 4th quarter. Prentice Wealth Management LLC now owns 2,294 shares of the CRM provider's stock worth $604,000 after acquiring an additional 38 shares during the period. 80.43% of the stock is owned by 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.