Salesforce, Inc. (NYSE:CRM - Get Free Report) CAO Sundeep G. Reddy sold 500 shares of Salesforce stock in a transaction on Friday, November 1st. The shares were sold at an average price of $290.23, for a total transaction of $145,115.00. Following the completion of the sale, the chief accounting officer now directly owns 6,506 shares of the company's stock, valued at approximately $1,888,236.38. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.
CRM traded up $3.29 on Monday, reaching $298.01. The company's stock had a trading volume of 4,731,272 shares, compared to its average volume of 6,266,780. The stock has a 50 day moving average of $273.02 and a two-hundred day moving average of $263.18. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $284.90 billion, a price-to-earnings ratio of 51.11, a P/E/G ratio of 2.64 and a beta of 1.29. Salesforce, Inc. has a fifty-two week low of $204.69 and a fifty-two week high of $318.71.
Salesforce (NYSE:CRM - Get Free Report) last announced its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.36 by $0.20. The firm had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The firm's quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.63 earnings per share. As a group, analysts forecast that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.
The firm also recently declared 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 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date was Wednesday, September 18th. Salesforce's dividend payout ratio (DPR) is 27.83%.
Several large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Salesforce by 1.2% in the first quarter. Vanguard Group Inc. now owns 84,635,254 shares of the CRM provider's stock valued at $25,490,446,000 after acquiring an additional 1,008,841 shares during the period. Capital Research Global Investors raised its position 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 acquiring an additional 3,044,611 shares in the last quarter. Capital International Investors raised its position in Salesforce by 3.0% in the first 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. Legal & General Group Plc increased its position in shares of Salesforce by 2.2% in the second quarter. Legal & General Group Plc now owns 8,329,687 shares of the CRM provider's stock valued at $2,141,562,000 after buying an additional 176,641 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Salesforce by 48.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 5,906,877 shares of the CRM provider's stock valued at $1,518,658,000 after buying an additional 1,922,674 shares in the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.
Several research firms have recently commented on CRM. Phillip Securities reissued an "accumulate" rating and set a $305.00 target price on shares of Salesforce in a research report on Friday, August 30th. Robert W. Baird upped their target price on shares of Salesforce from $295.00 to $315.00 and gave the stock an "outperform" rating in a report on Thursday, August 29th. Needham & Company LLC reissued a "buy" rating and issued a $345.00 price target on shares of Salesforce in a report on Friday, September 20th. Wells Fargo & Company increased their price target on shares of Salesforce from $250.00 to $275.00 and gave the company an "equal weight" rating in a research report on Thursday, August 29th. Finally, Wedbush raised their target price on shares of Salesforce from $315.00 to $325.00 and gave the stock an "outperform" rating in a research report on Friday, September 27th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Salesforce currently has an average rating of "Moderate Buy" and an average target price of $313.37.
Check Out Our Latest Report on Salesforce
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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