Salesforce, Inc. (NYSE:CRM - Get Free Report) CAO Sundeep G. Reddy sold 65 shares of the company's stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $264.78, for a total transaction of $17,210.70. Following the completion of the sale, the chief accounting officer now directly owns 6,509 shares in the company, valued at $1,723,453.02. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.
Salesforce Stock Down 1.0 %
CRM stock opened at $264.21 on Tuesday. 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 company has a market capitalization of $256.02 billion, a price-to-earnings ratio of 47.52, a PEG ratio of 2.26 and a beta of 1.29. Salesforce, Inc. has a fifty-two week low of $193.68 and a fifty-two week high of $318.71. The stock has a fifty day moving average of $254.37 and a 200-day moving average of $265.91.
Salesforce (NYSE:CRM - Get Free Report) last posted its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, topping analysts' consensus estimates of $2.36 by $0.20. The firm had revenue of $9.33 billion during the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The business's revenue for the quarter was up 8.5% on a year-over-year basis. During the same period last year, the company earned $1.63 earnings per share. As a group, equities research analysts predict that Salesforce, Inc. will post 7.55 earnings per share for the current year.
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The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.61%. Salesforce's dividend payout ratio (DPR) is currently 28.78%.
Hedge Funds Weigh In On Salesforce
A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of Salesforce by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 84,635,254 shares of the CRM provider's stock valued at $25,490,446,000 after buying an additional 1,008,841 shares in the last quarter. Capital World Investors increased its position in shares of Salesforce by 2.4% during the fourth quarter. Capital World Investors now owns 19,561,325 shares of the CRM provider's stock valued at $5,147,402,000 after buying an additional 457,463 shares during the period. Fisher Asset Management LLC grew its holdings in shares of Salesforce by 5.2% during the 4th quarter. Fisher Asset Management LLC now owns 14,905,462 shares of the CRM provider's stock worth $3,922,223,000 after acquiring an additional 736,986 shares during the period. Capital Research Global Investors raised its holdings in Salesforce by 26.9% in the first quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider's stock worth $4,329,925,000 after purchasing an additional 3,044,611 shares in the last quarter. Finally, Capital International Investors increased its stake in shares of Salesforce by 3.0% in the 1st quarter. Capital International Investors now owns 14,116,449 shares of the CRM provider's stock worth $4,251,592,000 after acquiring an additional 407,834 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on CRM. Macquarie reduced their target price on shares of Salesforce from $330.00 to $275.00 and set an "outperform" rating for the company in a research report on Friday, May 31st. Barclays cut their price objective on Salesforce from $355.00 to $305.00 and set an "overweight" rating on the stock in a research note on Thursday, May 30th. Phillip Securities reaffirmed an "accumulate" rating and set a $305.00 price target on shares of Salesforce in a research report on Friday, August 30th. Jefferies Financial Group reduced their price objective on shares of Salesforce from $360.00 to $350.00 and set a "buy" rating for the company in a research report on Thursday, May 30th. Finally, JPMorgan Chase & Co. boosted their target price on Salesforce from $300.00 to $310.00 and gave the company an "overweight" rating in a research report on Thursday, August 29th. Nine investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $306.00.
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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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