Salesforce (NYSE:CRM) Upgraded to Strong-Buy at Stephens

Stephens upgraded shares of Salesforce (NYSE:CRM) to a strong-buy rating in a research note released on Tuesday morning,Zacks.com reports.

Several other equities analysts have also commented on CRM. Macquarie decreased their price target on Salesforce from $370.00 to $320.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Stifel Nicolaus lowered their target price on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Loop Capital reduced their price target on shares of Salesforce from $330.00 to $300.00 and set a “hold” rating on the stock in a research note on Thursday, February 27th. The Goldman Sachs Group upped their price objective on shares of Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Citigroup reiterated a “buy” rating on shares of Salesforce in a report on Wednesday. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the company’s stock. According to MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and an average target price of $362.74.

Salesforce Stock Up 0.3 %

CRM stock opened at $279.44 on Tuesday. The firm has a market cap of $268.54 billion, a PE ratio of 45.96, a PEG ratio of 2.58 and a beta of 1.35. Salesforce has a one year low of $212.00 and a one year high of $369.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The firm’s 50 day moving average price is $315.19 and its 200-day moving average price is $309.50.

Insider Activity

In related news, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $277.37, for a total transaction of $1,725,518.77. Following the transaction, the chief financial officer now owns 46,750 shares of the company’s stock, valued at $12,967,047.50. This trade represents a 11.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Sundeep G. Reddy sold 436 shares of the company’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $144,874.08. Following the sale, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at approximately $2,344,899.96. This represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 75,609 shares of company stock valued at $24,920,821. Insiders own 3.20% of the company’s stock.

Institutional Trading of Salesforce

Hedge funds have recently made changes to their positions in the company. Bernard Wealth Management Corp. purchased a new stake in Salesforce in the 4th quarter valued at approximately $25,000. Infrastructure Capital Advisors LLC purchased a new position in Salesforce in the third quarter worth $27,000. Accredited Wealth Management LLC acquired a new stake in Salesforce in the fourth quarter valued at $27,000. Arlington Trust Co LLC boosted its position in shares of Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after purchasing an additional 40 shares in the last quarter. Finally, Compass Financial Services Inc acquired a new position in shares of Salesforce during the 4th quarter worth $30,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

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.