Salesforce, Inc. (NYSE:CRM) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Salesforce, Inc. (NYSE:CRM) have received an average recommendation of “Moderate Buy” from the forty-two analysts that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, thirty-one have given a buy recommendation and five have assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $361.42.

CRM has been the subject of a number of recent research reports. Stifel Nicolaus lowered their target price on Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Citigroup reiterated a “buy” rating on shares of Salesforce in a research report on Wednesday, March 19th. Stephens assumed coverage on shares of Salesforce in a report on Wednesday, March 19th. They issued an “equal weight” rating and a $311.00 target price on the stock. Wells Fargo & Company lowered their price target on shares of Salesforce from $345.00 to $310.00 and set an “equal weight” rating for the company in a report on Thursday, February 27th. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Salesforce in a report on Wednesday, March 19th.

Salesforce Stock Performance

Salesforce stock opened at $244.16 on Tuesday. The firm has a fifty day simple moving average of $300.39 and a two-hundred day simple moving average of $311.65. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce has a twelve month low of $212.00 and a twelve month high of $369.00. The company has a market capitalization of $234.63 billion, a PE ratio of 40.16, a P/E/G ratio of 2.58 and a beta of 1.38.

Salesforce Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 10th will be issued a $0.42 dividend. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date is Thursday, April 10th. Salesforce’s payout ratio is presently 26.10%.

Insider Activity at Salesforce

In related news, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $329.88, for a total transaction of $2,052,183.48. Following the transaction, the chief financial officer now owns 45,861 shares in the company, valued at $15,128,626.68. This represents a 11.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Parker Harris sold 652 shares of Salesforce stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $216,646.56. Following the completion of the sale, the insider now directly owns 121,467 shares of the company’s stock, valued at approximately $40,361,054.76. This trade represents a 0.53 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,660 shares of company stock valued at $14,095,336. 3.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Salesforce

A number of institutional investors and hedge funds have recently modified their holdings of the company. Bernard Wealth Management Corp. bought a new stake in shares of Salesforce during the 4th quarter valued at about $25,000. Accredited Wealth Management LLC purchased a new position in shares of Salesforce in the fourth quarter worth approximately $27,000. Arlington Trust Co LLC grew its position in Salesforce by 85.1% during the fourth 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 period. Compass Financial Services Inc purchased a new stake in Salesforce during the fourth quarter valued at approximately $30,000. Finally, Asset Planning Inc bought a new position in Salesforce in the fourth quarter worth approximately $31,000. 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.