Salesforce (NYSE:CRM) Given New $375.00 Price Target at Stifel Nicolaus

Salesforce (NYSE:CRM) had its target price lowered by Stifel Nicolaus from $425.00 to $375.00 in a research note issued to investors on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the CRM provider’s stock.

Several other research analysts have also weighed in on CRM. Robert W. Baird reduced their target price on Salesforce from $430.00 to $400.00 and set an “outperform” rating on the stock in a report on Thursday. Morgan Stanley lifted their price objective on Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Bank of America lowered their target price on Salesforce from $440.00 to $400.00 and set a “buy” rating for the company in a research note on Thursday. Northland Securities reaffirmed an “outperform” rating and issued a $440.00 price target (up previously from $400.00) on shares of Salesforce in a research note on Wednesday, December 4th. Finally, BMO Capital Markets lowered their price objective on shares of Salesforce from $375.00 to $367.00 and set an “outperform” rating for the company in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, thirty-two have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and an average target price of $365.32.

Salesforce Stock Performance

Shares of CRM stock opened at $294.80 on Thursday. The stock has a market cap of $282.12 billion, a PE ratio of 48.49, a price-to-earnings-growth ratio of 2.58 and a beta of 1.31. The stock has a 50-day moving average of $330.03 and a 200-day moving average of $306.89. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce has a one year low of $212.00 and a one year high of $369.00.

Salesforce (NYSE:CRM) last issued its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.03). The firm had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.62 EPS. As a group, sell-side analysts expect that Salesforce will post 7.46 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s payout ratio is presently 26.32%.

Insider Activity

In other Salesforce news, Director G Mason Morfit sold 722,300 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $346.11, for a total value of $249,995,253.00. Following the transaction, the director now directly owns 3,192,009 shares of the company’s stock, valued at $1,104,786,234.99. This trade represents a 18.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Marc Benioff sold 317,105 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $346.78, for a total transaction of $109,965,671.90. Following the completion of the transaction, the chief executive officer now owns 12,162,457 shares of the company’s stock, valued at $4,217,696,838.46. The trade was a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,102,572 shares of company stock valued at $381,283,706. 3.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. acquired a new stake in shares of Salesforce in the 4th quarter valued at approximately $25,000. Infrastructure Capital Advisors LLC bought a new stake in shares of Salesforce during the third quarter worth $27,000. Accredited Wealth Management LLC acquired a new position in shares of Salesforce during the fourth quarter worth $27,000. Arlington Trust Co LLC lifted its stake in shares of Salesforce by 85.1% in the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after acquiring an additional 40 shares during the last quarter. Finally, Compass Financial Services Inc acquired a new stake in shares of Salesforce during the 4th quarter valued at $30,000. 80.43% of the stock is owned by institutional investors.

About 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.