Salesforce (NYSE:CRM) Shares Up 1.5% - Here's Why

Salesforce, Inc. (NYSE:CRM - Get Free Report)'s share price traded up 1.5% on Tuesday . The company traded as high as $239.99 and last traded at $239.87. 1,622,749 shares were traded during trading, a decline of 76% from the average session volume of 6,773,461 shares. The stock had previously closed at $236.26.

Analyst Ratings Changes

A number of research analysts recently issued reports on CRM shares. Jefferies Financial Group reduced their price objective on Salesforce from $425.00 to $375.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Stifel Nicolaus reduced their target price on shares of Salesforce from $425.00 to $375.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. BMO Capital Markets restated an "outperform" rating on shares of Salesforce in a research note on Wednesday, March 19th. Wells Fargo & Company reduced their price objective on Salesforce from $310.00 to $255.00 and set an "equal weight" rating for the company in a research report on Tuesday. Finally, Robert W. Baird lowered their target price on Salesforce from $430.00 to $400.00 and set an "outperform" rating on the stock in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $351.37.

Salesforce Stock Performance

The stock has a fifty day moving average price of $273.75 and a 200 day moving average price of $308.41. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm has a market cap of $257.42 billion, a price-to-earnings ratio of 44.06, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38.

Salesforce Increases Dividend

The company also recently announced 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 is a positive change from Salesforce's previous quarterly dividend of $0.40. 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 0.63%. Salesforce's payout ratio is currently 26.10%.

Insider Transactions at Salesforce

In other news, insider Miguel Milano sold 458 shares of the company'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 transaction of $141,050.26. Following the completion of the transaction, the insider now directly owns 5,864 shares in the company, valued at $1,805,936.08. The trade was a 7.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian Millham sold 979 shares of the business's stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $253.66, for a total transaction of $248,333.14. Following the transaction, the chief executive officer now owns 6,487 shares in the company, valued at approximately $1,645,492.42. The trade was a 13.11 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,051 shares of company stock worth $15,027,714. Company insiders own 3.20% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Bernard Wealth Management Corp. bought a new position in shares of Salesforce in the fourth quarter worth about $25,000. Accredited Wealth Management LLC acquired a new stake in shares of Salesforce during the fourth quarter worth $27,000. Arlington Trust Co LLC increased 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 acquiring an additional 40 shares during the last quarter. Compass Financial Services Inc bought a new stake in Salesforce in the fourth quarter valued at approximately $30,000. Finally, Asset Planning Inc acquired a new stake in Salesforce in the fourth quarter worth $31,000. 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.