Salesforce (NYSE:CRM) Stock Price Up 0.2% – Time to Buy?

Salesforce, Inc. (NYSE:CRM) shares were up 0.2% on Wednesday . The company traded as high as $270.95 and last traded at $270.74. Approximately 1,078,977 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 6,632,086 shares. The stock had previously closed at $270.20.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Truist Financial reiterated a “buy” rating and set a $400.00 target price (up from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. Morgan Stanley upped their target price on shares of Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. DA Davidson lowered their price target on Salesforce from $300.00 to $275.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. Loop Capital cut their price objective on Salesforce from $330.00 to $300.00 and set a “hold” 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. One equities research 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 assigned a strong buy rating to the company. According to data from MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and a consensus target price of $361.42.

Salesforce Trading Up 1.1 %

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’s 50 day moving average is $307.13 and its 200-day moving average is $311.78. The company has a market capitalization of $262.45 billion, a P/E ratio of 44.92, a P/E/G ratio of 2.58 and a beta of 1.35.

Salesforce Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date of this dividend is Thursday, April 10th. This is a boost from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s dividend payout ratio (DPR) is presently 26.10%.

Insider Activity at Salesforce

In related news, insider Miguel Milano sold 458 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $307.97, for a total transaction of $141,050.26. Following the completion of the transaction, the insider now owns 5,864 shares of the company’s stock, valued at $1,805,936.08. This trade represents a 7.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Sundeep G. Reddy sold 436 shares of the firm’s stock in a transaction 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 transaction, the chief accounting officer now owns 7,057 shares of the company’s stock, valued at $2,344,899.96. The trade was a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 45,660 shares of company stock worth $14,095,336 over the last ninety days. 3.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Salesforce

Institutional investors and hedge funds have recently made changes to their positions in the company. United Bank boosted its position in shares of Salesforce by 1.1% during the third quarter. United Bank now owns 7,303 shares of the CRM provider’s stock valued at $1,999,000 after buying an additional 76 shares during the last quarter. Benjamin Edwards Inc. boosted its holdings in shares of Salesforce by 3,967.2% during the 3rd quarter. Benjamin Edwards Inc. now owns 44,414 shares of the CRM provider’s stock valued at $12,157,000 after acquiring an additional 43,322 shares during the last quarter. Cinctive Capital Management LP bought a new stake in shares of Salesforce in the third quarter worth approximately $2,154,000. Hilltop Holdings Inc. raised its holdings in shares of Salesforce by 138.2% during the third quarter. Hilltop Holdings Inc. now owns 10,597 shares of the CRM provider’s stock valued at $2,900,000 after purchasing an additional 6,148 shares during the last quarter. Finally, HighTower Advisors LLC lifted its position in Salesforce by 5.1% during the third quarter. HighTower Advisors LLC now owns 367,016 shares of the CRM provider’s stock valued at $100,386,000 after purchasing an additional 17,955 shares during the period. Institutional investors own 80.43% of the company’s stock.

Salesforce Company Profile

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.