Salesforce (NYSE:CRM) Trading 0.6% Higher - Time to Buy?

Salesforce, Inc. (NYSE:CRM - Get Free Report)'s stock price was up 0.6% during trading on Tuesday . The company traded as high as $267.87 and last traded at $267.20. Approximately 1,013,115 shares changed hands during trading, a decline of 85% from the average daily volume of 6,793,952 shares. The stock had previously closed at $265.64.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CRM. BMO Capital Markets restated an "outperform" rating on shares of Salesforce in a research note on Wednesday, March 19th. Bank of America cut their price target on Salesforce from $440.00 to $400.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Needham & Company LLC restated a "buy" rating and issued a $400.00 price objective on shares of Salesforce in a research note on Friday. Cantor Fitzgerald initiated coverage on Salesforce in a research note on Wednesday, April 23rd. They set an "overweight" rating and a $210.00 price objective for the company. Finally, Piper Sandler dropped their target price on shares of Salesforce from $400.00 to $315.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Salesforce presently has a consensus rating of "Moderate Buy" and a consensus price target of $351.37.

Salesforce Stock Performance

The firm has a 50 day moving average price of $272.58 and a 200-day moving average price of $308.39. The stock has a market capitalization of $257.10 billion, a PE ratio of 43.97, a PEG ratio of 2.58 and a beta of 1.38. 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. Stockholders of record on Thursday, April 10th were issued a $0.42 dividend. This is an increase from Salesforce's previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a dividend yield of 0.63%. The ex-dividend date was Thursday, April 10th. Salesforce's dividend payout ratio is 26.10%.

Insider Activity at Salesforce

In other Salesforce news, CEO Brian Millham sold 3,937 shares of Salesforce stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $284.58, for a total transaction of $1,120,391.46. Following the transaction, the chief executive officer now directly owns 5,518 shares of the company's stock, valued at $1,570,312.44. The trade was a 41.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Sundeep G. Reddy sold 500 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $335.94, for a total value of $167,970.00. Following the transaction, the chief accounting officer now owns 6,557 shares of the company's stock, valued at approximately $2,202,758.58. This represents a 7.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 52,051 shares of company stock worth $15,027,714. 3.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Salesforce

Several institutional investors have recently modified their holdings of CRM. Compton Wealth Advisory Group LLC increased its position in shares of Salesforce by 1.5% in the 1st quarter. Compton Wealth Advisory Group LLC now owns 8,289 shares of the CRM provider's stock valued at $2,224,000 after purchasing an additional 122 shares during the last quarter. Novare Capital Management LLC increased its holdings in shares of Salesforce by 1.3% in the 1st quarter. Novare Capital Management LLC now owns 33,702 shares of the CRM provider's stock valued at $9,044,000 after acquiring an additional 423 shares during the last quarter. Adell Harriman & Carpenter Inc. lifted its stake in Salesforce by 0.9% during the first quarter. Adell Harriman & Carpenter Inc. now owns 38,419 shares of the CRM provider's stock worth $10,310,000 after purchasing an additional 333 shares during the last quarter. Concurrent Investment Advisors LLC raised its holdings in Salesforce by 12.0% during the first quarter. Concurrent Investment Advisors LLC now owns 58,289 shares of the CRM provider's stock worth $15,642,000 after purchasing an additional 6,223 shares in the last quarter. Finally, Simmons Bank lifted its position in shares of Salesforce by 3.4% during the 1st quarter. Simmons Bank now owns 34,656 shares of the CRM provider's stock worth $9,300,000 after buying an additional 1,130 shares during the last quarter. Institutional investors and hedge funds 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.

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