Salesforce (NYSE:CRM) Stock Price Down 1.3%

Salesforce, Inc. (NYSE:CRM - Get Free Report)'s share price was down 1.3% on Monday . The company traded as low as $259.68 and last traded at $259.86. Approximately 1,198,255 shares were traded during trading, a decline of 83% from the average daily volume of 6,897,592 shares. The stock had previously closed at $263.19.

Analyst Ratings Changes

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A number of research analysts have recently weighed in on CRM shares. Needham & Company LLC reissued a "buy" rating and set a $345.00 target price on shares of Salesforce in a research report on Thursday, May 30th. Canaccord Genuity Group dropped their price target on shares of Salesforce from $350.00 to $300.00 and set a "buy" rating on the stock in a research note on Thursday, May 30th. Raymond James restated a "strong-buy" rating and set a $325.00 price target (down from $380.00) on shares of Salesforce in a research note on Thursday, May 30th. Wolfe Research restated an "outperform" rating and set a $365.00 price target on shares of Salesforce in a research note on Tuesday, April 16th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Salesforce from $310.00 to $300.00 and set an "overweight" rating on the stock in a research note on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Salesforce presently has an average rating of "Moderate Buy" and a consensus target price of $292.79.

Check Out Our Latest Analysis on Salesforce

Salesforce Stock Performance

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The company has a market cap of $250.81 billion, a PE ratio of 46.74, a PEG ratio of 2.31 and a beta of 1.29. The business's 50-day moving average is $258.26 and its 200 day moving average is $276.40. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

Salesforce (NYSE:CRM - Get Free Report) last issued its earnings results on Wednesday, May 29th. The CRM provider reported $2.44 EPS for the quarter, topping analysts' consensus estimates of $2.38 by $0.06. The company had revenue of $9.13 billion for the quarter, compared to analysts' expectations of $9.15 billion. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. The firm's revenue was up 10.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.15 EPS. On average, equities research analysts predict that Salesforce, Inc. will post 7.47 EPS for the current fiscal year.

Salesforce Dividend Announcement

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The company also recently declared a quarterly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Tuesday, July 9th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date is Tuesday, July 9th. Salesforce's dividend payout ratio (DPR) is presently 7.19%.

Insiders Place Their Bets

In other Salesforce news, CFO Amy E. Weaver sold 5,864 shares of the firm's stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $274.77, for a total value of $1,611,251.28. Following the sale, the chief financial officer now owns 45,231 shares of the company's stock, valued at approximately $12,428,121.87. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $256.24, for a total transaction of $1,076,208.00. Following the sale, the insider now owns 116,693 shares of the company's stock, valued at approximately $29,901,414.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Amy E. Weaver sold 5,864 shares of Salesforce stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $274.77, for a total transaction of $1,611,251.28. Following the sale, the chief financial officer now directly owns 45,231 shares in the company, valued at approximately $12,428,121.87. The disclosure for this sale can be found here. Insiders have sold a total of 469,152 shares of company stock valued at $127,249,111 in the last quarter. Insiders own 3.20% of the company's stock.

Institutional Investors Weigh In On Salesforce

A number of large investors have recently modified their holdings of CRM. Ruedi Wealth Management Inc. boosted its stake in Salesforce by 186.7% during the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider's stock worth $26,000 after acquiring an additional 56 shares in the last quarter. Bear Mountain Capital Inc. bought a new stake in Salesforce during the fourth quarter worth about $26,000. Signature Resources Capital Management LLC bought a new stake in Salesforce during the fourth quarter worth about $26,000. Red Tortoise LLC purchased a new position in Salesforce in the first quarter worth about $33,000. Finally, Kathleen S. Wright Associates Inc. purchased a new position in Salesforce in the fourth quarter worth about $31,000. 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.

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