Salesforce (NYSE:CRM) Trading 3.5% Higher - Still a Buy?

Salesforce, Inc. (NYSE:CRM - Get Free Report)'s stock price traded up 3.5% on Monday . The company traded as high as $286.82 and last traded at $285.15. 1,856,280 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 6,828,654 shares. The stock had previously closed at $275.42.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Cantor Fitzgerald assumed coverage on shares of Salesforce in a research report on Wednesday, April 23rd. They issued an "overweight" rating and a $210.00 price target on the stock. Stephens assumed coverage on shares of Salesforce in a research report on Wednesday, March 19th. They issued an "equal weight" rating and a $311.00 price target on the stock. Citigroup reiterated a "buy" rating on shares of Salesforce in a research report on Wednesday, March 19th. Needham & Company LLC reiterated a "buy" rating and issued a $400.00 price target on shares of Salesforce in a research report on Friday, April 25th. Finally, BMO Capital Markets reiterated an "outperform" rating on shares of Salesforce in a research report on Wednesday, March 19th. One equities research 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 data from MarketBeat.com, Salesforce currently has a consensus rating of "Moderate Buy" and a consensus price target of $350.56.

Salesforce Stock Up 4.8%

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 firm's 50 day moving average is $267.33 and its two-hundred day moving average is $307.36. The firm has a market capitalization of $277.48 billion, a P/E ratio of 47.47, a PEG ratio of 2.58 and a beta of 1.42.

Salesforce Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were paid a $0.42 dividend. The ex-dividend date of this dividend was Thursday, April 10th. This is a boost from Salesforce's previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a dividend yield of 0.58%. Salesforce's dividend payout ratio (DPR) is currently 26.10%.

Insider Activity at Salesforce

In related news, insider Miguel Milano sold 458 shares of the firm's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $307.97, for a total value of $141,050.26. Following the completion of the transaction, the insider now directly owns 5,864 shares of the company's stock, valued at approximately $1,805,936.08. This trade represents a 7.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $328.18, for a total transaction of $2,041,607.78. Following the transaction, the chief financial officer now directly owns 46,750 shares of the company's stock, valued at approximately $15,342,415. This trade represents a 11.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 45,830 shares of company stock valued at $12,907,361. 3.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Salesforce

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Salesforce by 1.6% during the first quarter. Vanguard Group Inc. now owns 87,913,628 shares of the CRM provider's stock worth $23,592,501,000 after purchasing an additional 1,383,942 shares during the period. Geode Capital Management LLC boosted its position in Salesforce by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 19,955,353 shares of the CRM provider's stock worth $6,656,078,000 after purchasing an additional 175,035 shares during the period. Fisher Asset Management LLC boosted its position in Salesforce by 1.4% during the fourth quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider's stock worth $4,163,703,000 after purchasing an additional 177,321 shares during the period. Northern Trust Corp boosted its position in Salesforce by 18.3% during the fourth quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider's stock worth $3,752,830,000 after purchasing an additional 1,736,667 shares during the period. Finally, Norges Bank acquired a new stake in shares of Salesforce during the fourth quarter worth $3,599,867,000. 80.43% of the stock is 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.

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