Salesforce (NYSE:CRM) Shares Up 3.5% - Here's Why

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on CRM. Jefferies Financial Group dropped their price objective on Salesforce from $425.00 to $375.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. TD Cowen raised Salesforce from a "hold" rating to a "buy" rating and boosted their price objective for the company from $380.00 to $400.00 in a research note on Friday, January 17th. Redburn Atlantic began coverage on Salesforce in a research note on Wednesday, February 19th. They issued a "buy" rating on the stock. Westpark Capital reissued a "buy" rating and issued a $320.00 price objective on shares of Salesforce in a research note on Wednesday, April 30th. Finally, Macquarie reaffirmed a "neutral" rating and set a $320.00 price target on shares of Salesforce in a research note on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have given a buy rating and five have assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $352.62.

Salesforce Trading Up 0.1%

The firm has a market cap of $279.76 billion, a P/E ratio of 47.86, a PEG ratio of 2.58 and a beta of 1.42. 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 stock has a 50 day moving average of $268.10 and a 200 day moving average of $307.03.

Salesforce Increases Dividend

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

Insider Activity

In related news, CAO Sundeep G. Reddy sold 1,909 shares of the firm's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $284.58, for a total value of $543,263.22. Following the sale, the chief accounting officer now directly owns 11,310 shares of the company's stock, valued at $3,218,599.80. This trade represents a 14.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Srinivas Tallapragada sold 6,697 shares of the firm's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $295.00, for a total value of $1,975,615.00. Following the completion of the sale, the insider now directly owns 41,422 shares in the company, valued at $12,219,490. The trade was a 13.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 52,527 shares of company stock valued at $14,882,976. 3.20% of the stock is currently owned by insiders.

Institutional Trading of Salesforce

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Salesforce by 1.6% during the first quarter. Vanguard Group Inc. now owns 87,913,628 shares of the CRM provider's stock valued at $23,592,501,000 after buying an additional 1,383,942 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Salesforce by 0.9% in 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 last quarter. Fisher Asset Management LLC raised its stake in shares of Salesforce by 1.4% in 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 last quarter. Northern Trust Corp raised its stake in shares of Salesforce by 18.3% in 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 last quarter. Finally, Norges Bank purchased a new position in shares of Salesforce in the fourth quarter worth $3,599,867,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

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.