Salesforce (NYSE:CRM) Upgraded to "Neutral" at Guggenheim

Guggenheim upgraded shares of Salesforce (NYSE:CRM - Free Report) from a sell rating to a neutral rating in a report released on Monday morning, MarketBeat reports.

Several other equities research analysts have also issued reports on CRM. Canaccord Genuity Group lowered their target price on shares of Salesforce from $415.00 to $400.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Loop Capital reduced their target price on Salesforce from $330.00 to $300.00 and set a "hold" rating for the company in a research note on Thursday, February 27th. DA Davidson reissued an "underperform" rating and issued a $200.00 price target on shares of Salesforce in a research note on Monday. BMO Capital Markets reaffirmed an "outperform" rating on shares of Salesforce in a report on Wednesday, March 19th. Finally, Robert W. Baird cut their target price on shares of Salesforce from $430.00 to $400.00 and set an "outperform" rating for the company in a research note on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $351.37.

Salesforce Stock Performance

NYSE:CRM traded up $3.17 during trading hours on Monday, reaching $267.87. The company had a trading volume of 5,649,322 shares, compared to its average volume of 6,811,850. 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 has a market cap of $257.42 billion, a PE ratio of 44.06, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. The business's 50 day moving average price is $273.75 and its 200-day moving average price is $308.27. Salesforce has a 1-year low of $212.00 and a 1-year high of $369.00.

Salesforce Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 0.63%. The ex-dividend date was Thursday, April 10th. This is a boost from Salesforce's previous quarterly dividend of $0.40. Salesforce's dividend payout ratio is currently 26.10%.

Insider Activity

In related news, CAO Sundeep G. Reddy sold 500 shares of the business's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $335.94, for a total transaction of $167,970.00. Following the completion of the transaction, the chief accounting officer now directly owns 6,557 shares of the company's stock, valued at $2,202,758.58. The trade was a 7.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Miguel Milano sold 458 shares of the company's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $307.97, for a total value of $141,050.26. Following the sale, the insider now owns 5,864 shares in the company, valued at approximately $1,805,936.08. This trade represents a 7.24 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 52,051 shares of company stock valued at $15,027,714. 3.20% of the stock is currently owned by company insiders.

Institutional Trading of Salesforce

Large investors have recently made changes to their positions in the company. Foundations Investment Advisors LLC raised its holdings in shares of Salesforce by 15.0% in the 4th quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider's stock valued at $12,194,000 after purchasing an additional 4,752 shares in the last quarter. Athena Investment Management purchased a new position in shares of Salesforce in the 4th quarter valued at about $236,000. Highland Capital Management LLC purchased a new position in shares of Salesforce in the 4th quarter valued at about $4,321,000. Nordea Investment Management AB raised its position in shares of Salesforce by 11.9% during the 4th quarter. Nordea Investment Management AB now owns 2,288,803 shares of the CRM provider's stock worth $766,566,000 after acquiring an additional 243,008 shares in the last quarter. Finally, CWA Asset Management Group LLC lifted its stake in Salesforce by 14.1% during the fourth quarter. CWA Asset Management Group LLC now owns 15,708 shares of the CRM provider's stock worth $5,252,000 after purchasing an additional 1,936 shares during the last quarter. 80.43% of the stock is currently owned by hedge funds and other 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.