Salesforce, Inc. (NYSE:CRM) Receives $350.56 Consensus PT from Brokerages

Shares of Salesforce, Inc. (NYSE:CRMGet Free Report) have been assigned an average rating of “Moderate Buy” from the forty-three brokerages that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, thirty-two have given a buy recommendation and five have issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $350.56.

CRM has been the topic of several analyst reports. TD Cowen raised shares of Salesforce from a “hold” rating to a “buy” rating and lifted their price target for the company from $380.00 to $400.00 in a research report on Friday, January 17th. Guggenheim upgraded shares of Salesforce from a “sell” rating to a “neutral” rating in a report on Monday, April 21st. Oppenheimer decreased their price objective on Salesforce from $415.00 to $380.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. Wells Fargo & Company lowered their target price on shares of Salesforce from $310.00 to $255.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 22nd. Finally, Canaccord Genuity Group lowered their price target on Salesforce from $415.00 to $400.00 and set a “buy” rating for the company in a report on Thursday, February 27th.

Read Our Latest Analysis on Salesforce

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 shares were sold at an average price of $307.97, for a total transaction of $141,050.26. Following the sale, the insider now owns 5,864 shares in the company, valued at approximately $1,805,936.08. This trade represents a 7.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $328.18, for a total value of $2,041,607.78. Following the completion of the transaction, the chief financial officer now owns 46,750 shares of the company’s stock, valued at $15,342,415. The trade was a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,830 shares of company stock valued at $12,907,361. Insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Salesforce

Several hedge funds have recently modified their holdings of CRM. Old Port Advisors lifted its position in Salesforce by 10.9% during the 4th quarter. Old Port Advisors now owns 868 shares of the CRM provider’s stock worth $290,000 after acquiring an additional 85 shares in the last quarter. Versant Capital Management Inc lifted its holdings in Salesforce by 42.3% during the 4th quarter. Versant Capital Management Inc now owns 1,483 shares of the CRM provider’s stock worth $496,000 after buying an additional 441 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Salesforce by 20.5% in the 4th quarter. GAMMA Investing LLC now owns 12,441 shares of the CRM provider’s stock valued at $4,159,000 after acquiring an additional 2,113 shares during the last quarter. Modus Advisors LLC lifted its stake in Salesforce by 0.4% during the fourth quarter. Modus Advisors LLC now owns 14,406 shares of the CRM provider’s stock worth $4,817,000 after purchasing an additional 59 shares during the last quarter. Finally, Central Pacific Bank Trust Division increased its stake in Salesforce by 85.7% during the fourth quarter. Central Pacific Bank Trust Division now owns 15,659 shares of the CRM provider’s stock valued at $5,235,000 after purchasing an additional 7,225 shares during the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Trading Down 1.0 %

Shares of CRM stock opened at $272.40 on Friday. 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 has a twelve month low of $212.00 and a twelve month high of $369.00. The company’s 50-day moving average price is $268.64 and its 200-day moving average price is $307.67. The stock has a market cap of $261.88 billion, a price-to-earnings ratio of 44.80, a PEG ratio of 2.58 and a beta of 1.42.

Salesforce Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend was Thursday, April 10th. This is an increase from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s payout ratio is 26.10%.

About Salesforce

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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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