Salesforce (NYSE:CRM) Trading 1.6% Higher - Time to Buy?

Shares of Salesforce, Inc. (NYSE:CRM - Get Free Report) traded up 1.6% during mid-day trading on Wednesday . The company traded as high as $296.05 and last traded at $293.87. 2,498,832 shares changed hands during mid-day trading, a decline of 63% from the average session volume of 6,706,684 shares. The stock had previously closed at $289.17.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Loop Capital lowered their price target on shares of Salesforce from $330.00 to $300.00 and set a "hold" rating for the company in a research report on Thursday, February 27th. Westpark Capital reiterated a "buy" rating and set a $320.00 price objective on shares of Salesforce in a research report on Wednesday, April 30th. Mizuho decreased their price objective on Salesforce from $425.00 to $380.00 and set an "outperform" rating for the company in a report on Thursday. Guggenheim upgraded Salesforce from a "sell" rating to a "neutral" rating in a research report on Monday, April 21st. Finally, Robert W. Baird decreased their price target on Salesforce from $430.00 to $400.00 and set an "outperform" rating for the company in a research note on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have assigned a buy rating and five have assigned a strong buy rating to the company. Based on data from MarketBeat, Salesforce currently has an average rating of "Moderate Buy" and an average target price of $352.62.

Salesforce Stock Up 0.1%

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 business has a 50 day simple moving average of $267.83 and a 200 day simple moving average of $307.08. The stock has a market cap of $279.76 billion, a PE ratio of 47.89, a P/E/G ratio of 2.58 and a beta of 1.42.

Salesforce Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were issued 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 0.58%. This is an increase from Salesforce's previous quarterly dividend of $0.40. Salesforce's dividend payout ratio is currently 26.10%.

Insider Buying and Selling at Salesforce

In other news, CAO Sundeep G. Reddy sold 500 shares of the stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $275.00, for a total transaction of $137,500.00. Following the transaction, the chief accounting officer now owns 11,711 shares of the company's stock, valued at approximately $3,220,525. This represents a 4.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Srinivas Tallapragada sold 6,697 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $295.00, for a total value of $1,975,615.00. Following the completion of the sale, the insider now owns 41,422 shares of the company's stock, valued at approximately $12,219,490. This trade represents a 13.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,527 shares of company stock worth $14,882,976 over the last ninety days. 3.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Salesforce

Institutional investors have recently modified their holdings of the company. Foundations Investment Advisors LLC grew its position 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 purchasing an additional 4,752 shares during the last quarter. Athena Investment Management bought a new stake in Salesforce during the 4th quarter valued at approximately $236,000. Highland Capital Management LLC acquired a new stake in Salesforce in the 4th quarter valued at approximately $4,321,000. Jag Capital Management LLC increased its position in Salesforce by 2,507.9% in the 4th quarter. Jag Capital Management LLC now owns 23,706 shares of the CRM provider's stock worth $7,926,000 after buying an additional 22,797 shares during the period. Finally, Lecap Asset Management Ltd. acquired a new position in shares of Salesforce during the fourth quarter worth approximately $2,861,000. 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.