Salesforce (NYSE:CRM) Shares Up 2% - Time to Buy?

Salesforce, Inc. (NYSE:CRM - Get Free Report)'s stock price was up 2% during mid-day trading on Thursday . The company traded as high as $274.60 and last traded at $274.00. Approximately 1,313,591 shares traded hands during trading, a decline of 81% from the average daily volume of 6,791,039 shares. The stock had previously closed at $268.71.

Analyst Ratings Changes

Several equities analysts have weighed in on CRM shares. Robert W. Baird dropped their price objective on Salesforce from $430.00 to $400.00 and set an "outperform" rating for the company in a report on Thursday, February 27th. Macquarie restated a "neutral" rating and issued a $320.00 target price on shares of Salesforce in a research report on Thursday, March 20th. Redburn Atlantic began coverage on shares of Salesforce in a research report on Wednesday, February 19th. They set a "buy" rating on the stock. Oppenheimer lowered their price objective on shares of Salesforce from $415.00 to $380.00 and set an "outperform" rating for the company in a research report on Thursday, February 27th. Finally, Guggenheim raised Salesforce from a "sell" rating to a "neutral" rating in a report on Monday, April 21st. One equities research 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 stock. According to data from MarketBeat, Salesforce presently has an average rating of "Moderate Buy" and a consensus target price of $350.56.

Salesforce Price Performance

The firm has a market capitalization of $264.58 billion, a P/E ratio of 45.26, a PEG ratio of 2.58 and a beta of 1.42. The business's 50-day simple moving average is $269.34 and its 200 day simple moving average is $307.70. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 24th. Shareholders 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 annualized dividend and a yield of 0.61%. This is a boost from Salesforce's previous quarterly dividend of $0.40. Salesforce's dividend payout ratio (DPR) is 26.10%.

Insiders Place Their Bets

In other news, insider R David Schmaier sold 6,959 shares of the business's stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total transaction of $1,762,784.29. Following the completion of the sale, the insider now 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $335.94, for a total transaction of $2,089,882.74. Following the completion of the sale, 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 52,051 shares of company stock worth $15,027,714. Company insiders own 3.20% of the company's stock.

Institutional Trading of Salesforce

Several hedge funds have recently bought and sold shares of CRM. Norges Bank bought a new position in shares of Salesforce during the fourth quarter valued at approximately $3,599,867,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in shares of Salesforce by 926.4% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,256,211 shares of the CRM provider's stock worth $1,422,979,000 after buying an additional 3,841,521 shares during the last quarter. GAMMA Investing LLC increased its position in Salesforce by 30,456.9% during the 1st quarter. GAMMA Investing LLC now owns 3,801,588 shares of the CRM provider's stock valued at $1,020,194,000 after buying an additional 3,789,147 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Salesforce in the fourth quarter worth $1,173,564,000. Finally, Invesco Ltd. raised its stake in shares of Salesforce by 42.5% in the fourth quarter. Invesco Ltd. now owns 7,791,015 shares of the CRM provider's stock worth $2,604,770,000 after purchasing an additional 2,325,156 shares during the last quarter. Hedge funds and other institutional investors 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.