Salesforce (NYSE:CRM) Shares Up 0.2% – Should You Buy?

Salesforce, Inc. (NYSE:CRM) traded up 0.2% on Wednesday . The company traded as high as $354.77 and last traded at $351.38. 1,797,806 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 6,386,392 shares. The stock had previously closed at $350.57.

Wall Street Analysts Forecast Growth

CRM has been the topic of a number of recent research reports. Wedbush reissued an “outperform” rating and set a $425.00 target price on shares of Salesforce in a research report on Wednesday. Guggenheim restated a “neutral” rating on shares of Salesforce in a research note on Wednesday, December 4th. Piper Sandler reiterated an “overweight” rating and issued a $405.00 price target on shares of Salesforce in a research note on Wednesday. Needham & Company LLC restated a “buy” rating and set a $375.00 price objective on shares of Salesforce in a research note on Wednesday. Finally, The Goldman Sachs Group upped their target price on Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Eight research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $378.86.

Salesforce Stock Performance

The company has a fifty day moving average of $320.12 and a 200 day moving average of $277.44. 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 market cap of $333.01 billion, a P/E ratio of 57.23, a PEG ratio of 3.21 and a beta of 1.30.

Salesforce (NYSE:CRM) last announced its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. During the same period in the prior year, the business earned $1.62 EPS. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. On average, equities analysts predict that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 18th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend is Wednesday, December 18th. Salesforce’s payout ratio is 26.32%.

Insider Buying and Selling at Salesforce

In other Salesforce news, insider Miguel Milano sold 719 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $342.81, for a total value of $246,480.39. Following the completion of the transaction, the insider now directly owns 4,659 shares in the company, valued at $1,597,151.79. This trade represents a 13.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Amy E. Weaver sold 897 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total transaction of $255,905.13. Following the completion of the sale, the chief financial officer now owns 52,930 shares of the company’s stock, valued at approximately $15,100,399.70. This trade represents a 1.67 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 134,298 shares of company stock valued at $39,903,781. Corporate insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Salesforce

Institutional investors have recently bought and sold shares of the business. Veritas Asset Management LLP acquired a new stake in shares of Salesforce during the third quarter worth approximately $733,805,000. Massachusetts Financial Services Co. MA boosted its stake in shares of Salesforce by 48.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,906,877 shares of the CRM provider’s stock valued at $1,518,658,000 after buying an additional 1,922,674 shares during the period. KBC Group NV increased its stake in shares of Salesforce by 171.2% in the third quarter. KBC Group NV now owns 1,634,834 shares of the CRM provider’s stock worth $447,470,000 after acquiring an additional 1,032,068 shares during the last quarter. International Assets Investment Management LLC raised its holdings in shares of Salesforce by 23,664.2% during the third quarter. International Assets Investment Management LLC now owns 1,002,848 shares of the CRM provider’s stock worth $274,490,000 after acquiring an additional 998,628 shares in the last quarter. Finally, Farallon Capital Management LLC boosted its position in Salesforce by 51.0% during the second quarter. Farallon Capital Management LLC now owns 2,946,838 shares of the CRM provider’s stock valued at $757,632,000 after purchasing an additional 994,670 shares during the last quarter. 80.43% of the stock is currently 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.