Salesforce (NYSE:CRM) Stock Price Up 0.7% - Time to Buy?

Shares of Salesforce, Inc. (NYSE:CRM - Get Free Report) traded up 0.7% during trading on Wednesday . The stock traded as high as $276.20 and last traded at $275.22. 1,004,376 shares changed hands during trading, a decline of 85% from the average session volume of 6,801,768 shares. The stock had previously closed at $273.36.

Analyst Ratings Changes

CRM has been the subject of several analyst reports. Redburn Atlantic initiated coverage on shares of Salesforce in a research report on Wednesday, February 19th. They set a "buy" rating for the company. Robert W. Baird reduced their price target on Salesforce from $430.00 to $400.00 and set an "outperform" rating on the stock in a research report on Thursday, February 27th. Stephens assumed coverage on Salesforce in a research report on Wednesday, March 19th. They issued an "equal weight" rating and a $311.00 price objective for the company. Morgan Stanley cut their target price on shares of Salesforce from $405.00 to $393.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Finally, Oppenheimer decreased their target price on shares of Salesforce from $415.00 to $380.00 and set an "outperform" rating on the stock in a research note on Thursday, February 27th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have issued a buy rating and five have assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $350.56.

Salesforce Stock Performance

The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market capitalization of $264.75 billion, a price-to-earnings ratio of 45.29, a PEG ratio of 2.58 and a beta of 1.42. The firm has a 50 day moving average price of $267.33 and a 200-day moving average price of $307.06.

Salesforce Increases Dividend

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

Insider Transactions at Salesforce

In other Salesforce news, insider R David Schmaier sold 6,959 shares of the business's stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total value of $1,762,784.29. Following the completion of the sale, the insider now owns 36,090 shares in the company, valued at approximately $9,141,957.90. The trade was a 16.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the firm's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $328.18, for a total value of $2,041,607.78. Following the transaction, the chief financial officer now directly owns 46,750 shares in the company, valued at approximately $15,342,415. This represents a 11.74 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 45,830 shares of company stock valued at $12,907,361. Insiders own 3.20% of the company's stock.

Institutional Investors Weigh In On Salesforce

A number of institutional investors and hedge funds have recently modified their holdings of the company. Nvest Financial LLC raised its position in shares of Salesforce by 1.1% in the 4th quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider's stock worth $938,000 after buying an additional 31 shares during the period. OMC Financial Services LTD increased its holdings in Salesforce by 0.3% in the fourth quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider's stock valued at $3,808,000 after buying an additional 31 shares during the last quarter. Capital Advisors Ltd. LLC lifted its stake in Salesforce by 4.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider's stock worth $263,000 after purchasing an additional 31 shares during the last quarter. Sachetta LLC boosted its holdings in shares of Salesforce by 0.3% in the 4th quarter. Sachetta LLC now owns 11,018 shares of the CRM provider's stock valued at $3,684,000 after buying an additional 32 shares during the period. Finally, Prossimo Advisors LLC grew its holdings in shares of Salesforce by 1.0% during the fourth quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider's stock valued at $1,125,000 after purchasing an additional 32 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company's stock.

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.