Salesforce (NYSE:CRM) Stock Price Up 0.9% - Still a Buy?

Salesforce, Inc. (NYSE:CRM - Get Free Report)'s share price rose 0.9% during trading on Tuesday . The company traded as high as $292.50 and last traded at $291.41. Approximately 1,748,867 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 6,824,944 shares. The stock had previously closed at $288.82.

Wall Street Analysts Forecast Growth

CRM has been the topic of a number of recent analyst reports. Robert W. Baird cut their price objective on Salesforce from $430.00 to $400.00 and set an "outperform" rating on the stock in a research note on Thursday, February 27th. Morgan Stanley dropped their price target on Salesforce from $405.00 to $393.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Bank of America dropped their price target on Salesforce from $440.00 to $400.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Loop Capital dropped their price target on Salesforce from $330.00 to $300.00 and set a "hold" rating on the stock in a research note on Thursday, February 27th. Finally, Macquarie reissued a "neutral" rating and issued a $320.00 price target on shares of Salesforce in a research note on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have given a buy rating and five have given a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $352.62.

Salesforce Price Performance

The business has a fifty day moving average of $267.47 and a 200-day moving average of $307.10. The firm has a market cap of $279.44 billion, a PE ratio of 47.80, a PEG ratio of 2.58 and a beta of 1.42. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were issued a dividend of $0.42 per share. This is a boost from Salesforce's previous quarterly dividend of $0.40. The ex-dividend date was Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a yield of 0.58%. Salesforce's dividend payout ratio is 26.10%.

Insider Buying and Selling

In related news, CAO Sundeep G. Reddy sold 500 shares of the firm's stock in a transaction that occurred on 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 directly owns 11,711 shares in the company, valued at $3,220,525. This trade represents a 4.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Miguel Milano sold 458 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $307.97, for a total value of $141,050.26. Following the transaction, the insider now owns 5,864 shares in the company, valued at approximately $1,805,936.08. The trade was a 7.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 45,830 shares of company stock valued at $12,907,361. Corporate insiders own 3.20% of the company's stock.

Hedge Funds Weigh In On Salesforce

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bernard Wealth Management Corp. purchased a new position in shares of Salesforce in the 4th quarter valued at approximately $25,000. Accredited Wealth Management LLC purchased a new position in shares of Salesforce in the 4th quarter valued at approximately $27,000. Arlington Trust Co LLC lifted its stake in shares of Salesforce by 85.1% in the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock valued at $29,000 after purchasing an additional 40 shares during the period. Compass Financial Services Inc purchased a new position in shares of Salesforce in the 4th quarter valued at approximately $30,000. Finally, Capital A Wealth Management LLC increased its position in Salesforce by 450.0% during the 1st quarter. Capital A Wealth Management LLC now owns 110 shares of the CRM provider's stock valued at $30,000 after buying an additional 90 shares in the last quarter. 80.43% of the stock is currently 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.