Salesforce, Inc. (NYSE:CRM) Given Average Rating of "Moderate Buy" by Brokerages

Salesforce, Inc. (NYSE:CRM - Get Free Report) has received an average rating of "Moderate Buy" from the forty-three ratings firms that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, thirty-two have assigned a buy recommendation and five have issued a strong buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $350.56.

A number of research analysts have issued reports on the stock. Robert W. Baird cut their target price on shares of Salesforce from $430.00 to $400.00 and set an "outperform" rating on the stock in a research report on Thursday, February 27th. Wells Fargo & Company reduced their price objective on shares of Salesforce from $310.00 to $255.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Scotiabank lowered their target price on shares of Salesforce from $400.00 to $345.00 and set a "sector outperform" rating for the company in a report on Monday, March 17th. Cantor Fitzgerald began coverage on Salesforce in a research note on Wednesday, April 23rd. They issued an "overweight" rating and a $210.00 price target on the stock. Finally, Macquarie reaffirmed a "neutral" rating and set a $320.00 price objective on shares of Salesforce in a research note on Thursday, March 20th.

Salesforce Trading Up 2.2 %

Shares of CRM stock traded up $5.88 on Friday, reaching $275.21. 4,323,233 shares of the stock were exchanged, compared to its average volume of 6,820,139. The stock has a 50 day moving average price of $269.34 and a 200 day moving average price of $307.58. The stock has a market cap of $264.58 billion, a PE ratio of 45.26, a P/E/G ratio of 2.58 and a beta of 1.38. Salesforce has a one year low of $212.00 and a one year high of $369.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

Salesforce Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date of this dividend was Thursday, April 10th. This is an increase from Salesforce's previous quarterly dividend of $0.40. Salesforce's payout ratio is 26.10%.

Insider Buying and Selling at Salesforce

In other news, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $335.94, for a total value of $2,089,882.74. Following the transaction, the chief financial officer now directly owns 46,750 shares of the company's stock, valued at $15,705,195. This represents a 11.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider R David Schmaier sold 6,959 shares of Salesforce stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total transaction of $1,762,784.29. Following the sale, the insider now directly owns 36,090 shares of the company's stock, valued at $9,141,957.90. The trade was a 16.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,051 shares of company stock worth $15,027,714 over the last 90 days. Company insiders own 3.20% of the company's stock.

Institutional Investors Weigh In On Salesforce

A number of institutional investors have recently made changes to their positions in the company. Foundations Investment Advisors LLC grew its stake in shares of Salesforce by 15.0% in the fourth quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider's stock valued at $12,194,000 after acquiring an additional 4,752 shares in the last quarter. Athena Investment Management acquired a new stake in shares of Salesforce in the fourth quarter valued at approximately $236,000. Highland Capital Management LLC acquired a new stake in Salesforce during the fourth quarter worth approximately $4,321,000. Nordea Investment Management AB lifted its position in shares of Salesforce by 11.9% during the 4th quarter. Nordea Investment Management AB now owns 2,288,803 shares of the CRM provider's stock valued at $766,566,000 after acquiring an additional 243,008 shares during the period. Finally, CWA Asset Management Group LLC increased its position in shares of Salesforce by 14.1% in the fourth quarter. CWA Asset Management Group LLC now owns 15,708 shares of the CRM provider's stock worth $5,252,000 after purchasing an additional 1,936 shares during the period. Institutional investors own 80.43% of the company's stock.

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.