Salesforce, Inc. (NYSE:CRM - Get Free Report) shares were up 2.3% on Friday . The company traded as high as $344.22 and last traded at $343.82. Approximately 2,472,110 shares changed hands during trading, a decline of 61% from the average daily volume of 6,400,171 shares. The stock had previously closed at $336.23.
Several equities analysts recently commented on CRM shares. Bank of America upped their price target on shares of Salesforce from $390.00 to $440.00 and gave the company a "buy" rating in a research note on Wednesday, December 4th. Loop Capital raised their target price on shares of Salesforce from $340.00 to $360.00 and gave the stock a "hold" rating in a report on Wednesday, December 4th. Needham & Company LLC reiterated a "buy" rating and issued a $375.00 price target on shares of Salesforce in a research report on Wednesday. Stifel Nicolaus increased their price target on Salesforce from $390.00 to $425.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. Finally, Evercore ISI reaffirmed an "outperform" rating and issued a $300.00 price objective on shares of Salesforce in a report on Monday, August 26th. Eight equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $378.86.
Get Our Latest Analysis on Salesforce
The company has a 50-day moving average of $322.03 and a 200-day moving average of $278.26. The firm has a market capitalization of $328.88 billion, a P/E ratio of 56.52, a price-to-earnings-growth ratio of 3.21 and a beta of 1.30. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.
Salesforce (NYSE:CRM - Get Free Report) last released its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing analysts' consensus estimates of $2.44 by ($0.03). The firm had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The business's revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.62 EPS. On average, equities analysts anticipate that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.47%. Salesforce's dividend payout ratio (DPR) is currently 26.32%.
In related news, insider Parker Harris sold 942 shares of the company's stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $264.78, for a total transaction of $249,422.76. Following the transaction, the insider now directly owns 118,514 shares of the company's stock, valued at approximately $31,380,136.92. This represents a 0.79 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Sundeep G. Reddy sold 413 shares of the firm'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 value of $117,824.77. Following the completion of the sale, the chief accounting officer now directly owns 7,006 shares of the company's stock, valued at $1,998,741.74. This trade represents a 5.57 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 134,298 shares of company stock valued at $39,903,781. Corporate insiders own 3.20% of the company's stock.
A number of hedge funds have recently made changes to their positions in CRM. Infrastructure Capital Advisors LLC bought a new stake in Salesforce during the 3rd quarter worth approximately $27,000. Clear Investment Research LLC grew its holdings in Salesforce by 816.7% during the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider's stock worth $28,000 after buying an additional 98 shares in the last quarter. Stephens Consulting LLC lifted its stake in Salesforce by 3,125.0% during the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider's stock valued at $33,000 after acquiring an additional 125 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in Salesforce during the 2nd quarter worth $33,000. Finally, Godsey & Gibb Inc. grew its stake in shares of Salesforce by 300.0% in the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider's stock worth $33,000 after acquiring an additional 90 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.
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.
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