Salesforce (NYSE:CRM) Trading 0.1% Higher – Still a Buy?

by · The Markets Daily

Salesforce, Inc. (NYSE:CRM – Get Free Report)’s share price traded up 0.1% during trading on Thursday . The company traded as high as $293.34 and last traded at $291.24. 545,732 shares changed hands during trading, a decline of 91% from the average session volume of 6,418,952 shares. The stock had previously closed at $290.86.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Loop Capital reissued a “hold” rating and set a $270.00 price objective on shares of Salesforce in a research report on Thursday, September 19th. Erste Group Bank reiterated a “hold” rating on shares of Salesforce in a research report on Wednesday, September 11th. Robert W. Baird raised their price objective on shares of Salesforce from $295.00 to $315.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Truist Financial reaffirmed a “buy” rating and set a $315.00 price objective (up from $300.00) on shares of Salesforce in a research report on Thursday, September 19th. Finally, BNP Paribas raised Salesforce to a “strong-buy” rating in a research report on Thursday, August 29th. Nine analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and a consensus price target of $310.74.

Check Out Our Latest Stock Analysis on Salesforce

Salesforce Trading Down 0.2 %

The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a market cap of $281.36 billion, a PE ratio of 52.38, a price-to-earnings-growth ratio of 2.61 and a beta of 1.30. The stock has a 50-day simple moving average of $265.00 and a two-hundred day simple moving average of $263.65.

Salesforce (NYSE:CRM – Get Free Report) last issued its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The company had revenue of $9.33 billion for the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter in the prior year, the firm earned $1.63 earnings per share. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.55%. The ex-dividend date was Wednesday, September 18th. Salesforce’s payout ratio is currently 28.78%.

Insider Buying and Selling at Salesforce

In other news, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $289.87, for a total transaction of $1,217,454.00. Following the completion of the sale, the insider now owns 118,514 shares of the company’s stock, valued at $34,353,653.18. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Salesforce news, insider Parker Harris sold 4,200 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $289.87, for a total value of $1,217,454.00. Following the transaction, the insider now directly owns 118,514 shares in the company, valued at approximately $34,353,653.18. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider R David Schmaier sold 1,155 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total transaction of $295,425.90. Following the sale, the insider now directly owns 20,556 shares of the company’s stock, valued at approximately $5,257,813.68. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 80,612 shares of company stock valued at $21,429,961. 3.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Salesforce

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CRM. Kapitalo Investimentos Ltda purchased a new position in shares of Salesforce during the 4th quarter valued at $51,000. Ferguson Wellman Capital Management Inc. lifted its position in shares of Salesforce by 11.8% in the first quarter. Ferguson Wellman Capital Management Inc. now owns 1,311 shares of the CRM provider’s stock valued at $395,000 after acquiring an additional 138 shares in the last quarter. Foster Group Inc. bought a new position in shares of Salesforce in the first quarter worth about $296,000. Montecito Bank & Trust grew its position in shares of Salesforce by 57.5% during the first quarter. Montecito Bank & Trust now owns 2,004 shares of the CRM provider’s stock worth $604,000 after purchasing an additional 732 shares in the last quarter. Finally, Wedmont Private Capital lifted its holdings in Salesforce by 19.8% in the 1st quarter. Wedmont Private Capital now owns 15,904 shares of the CRM provider’s stock worth $4,809,000 after purchasing an additional 2,633 shares in the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Company Profile

(Get Free Report)

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.

Read More