Westpark Capital Reiterates "Buy" Rating for Salesforce (NYSE:CRM)

Westpark Capital reissued their buy rating on shares of Salesforce (NYSE:CRM - Free Report) in a report issued on Wednesday, MarketBeat reports. Westpark Capital currently has a $320.00 target price on the CRM provider's stock.

A number of other research firms have also recently weighed in on CRM. Morgan Stanley decreased their price objective on shares of Salesforce from $405.00 to $393.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Salesforce in a research report on Wednesday, March 19th. Macquarie reaffirmed a "neutral" rating and issued a $320.00 target price on shares of Salesforce in a research report on Thursday, March 20th. Bank of America dropped their price target on shares of Salesforce from $440.00 to $400.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Finally, Stifel Nicolaus cut their price objective on shares of Salesforce from $425.00 to $375.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have given a buy rating and five have issued a strong buy rating to the company's stock. According to MarketBeat.com, Salesforce has a consensus rating of "Moderate Buy" and an average price target of $350.56.

Salesforce Stock Up 0.2 %

Shares of CRM stock traded up $0.46 during trading hours on Wednesday, reaching $269.17. The company had a trading volume of 5,204,423 shares, compared to its average volume of 6,818,283. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. Salesforce has a twelve month low of $212.00 and a twelve month high of $369.00. The stock's fifty day simple moving average is $269.95 and its 200 day simple moving average is $307.67. The company has a market capitalization of $258.78 billion, a P/E ratio of 44.27, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38.

Salesforce Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Shareholders 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 dividend on an annualized basis and a yield of 0.62%. Salesforce's payout ratio is 26.10%.

Insider Buying and Selling

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 transaction, the insider now directly 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Sundeep G. Reddy sold 1,525 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 value of $386,831.50. Following the transaction, the chief accounting officer now directly owns 12,211 shares of the company's stock, valued at $3,097,442.26. This represents a 11.10 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 52,051 shares of company stock worth $15,027,714. Corporate insiders own 3.20% of the company's stock.

Institutional Investors Weigh In On Salesforce

A number of institutional investors have recently added to or reduced their stakes in CRM. Bernard Wealth Management Corp. bought a new position in Salesforce during the fourth quarter worth about $25,000. Accredited Wealth Management LLC acquired a new position in shares of Salesforce during the fourth quarter worth approximately $27,000. Arlington Trust Co LLC boosted its position in 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 buying an additional 40 shares during the last quarter. Compass Financial Services Inc bought a new position in Salesforce in the fourth quarter valued at about $30,000. Finally, Asset Planning Inc acquired a new stake in shares of Salesforce during the 4th quarter worth approximately $31,000. 80.43% of the stock is owned by institutional investors and hedge funds.

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.