OP Asset Management Ltd Takes Position in Salesforce Inc. $CRM

OP Asset Management Ltd bought a new stake in shares of Salesforce Inc. (NYSE:CRMFree Report) during the 1st quarter, according to its most recent filing with the SEC. The fund bought 121,374 shares of the CRM provider’s stock, valued at approximately $22,657,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CRM. Commonwealth Retirement Investments LLC bought a new position in Salesforce during the fourth quarter worth about $25,000. Board of the Pension Protection Fund acquired a new position in shares of Salesforce in the 4th quarter worth approximately $26,000. Key Capital Management INC acquired a new position in shares of Salesforce in the 4th quarter worth approximately $26,000. Gilpin Wealth Management LLC bought a new position in shares of Salesforce during the 4th quarter worth approximately $26,000. Finally, Legacy Bridge LLC acquired a new stake in Salesforce in the 4th quarter valued at $27,000. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Performance

Shares of NYSE:CRM opened at $152.45 on Thursday. The business has a fifty day moving average of $176.37 and a 200-day moving average of $202.28. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.79 and a current ratio of 0.79. Salesforce Inc. has a twelve month low of $146.32 and a twelve month high of $276.80. The firm has a market cap of $124.86 billion, a PE ratio of 17.64, a price-to-earnings-growth ratio of 0.96 and a beta of 1.16.

Salesforce (NYSE:CRMGet Free Report) last issued its quarterly earnings results on Wednesday, May 27th. The CRM provider reported $3.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.13 by $0.75. Salesforce had a net margin of 18.73% and a return on equity of 18.72%. The business had revenue of $11.13 billion for the quarter, compared to the consensus estimate of $11.05 billion. During the same quarter in the prior year, the company earned $2.58 EPS. The firm’s quarterly revenue was up 13.3% on a year-over-year basis. Salesforce has set its FY 2027 guidance at 14.060-14.120 EPS and its Q2 2027 guidance at 3.250-3.270 EPS. On average, equities research analysts predict that Salesforce Inc. will post 10.29 EPS for the current fiscal year.

Salesforce declared that its board has initiated a stock repurchase program on Monday, March 16th that permits the company to buyback $25.00 billion in outstanding shares. This buyback authorization permits the CRM provider to buy up to 14.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Thursday, June 11th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Thursday, June 11th. Salesforce’s dividend payout ratio is presently 20.37%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on CRM shares. TD Cowen reiterated a “buy” rating on shares of Salesforce in a research note on Friday, June 12th. Monness Crespi & Hardt upgraded shares of Salesforce from a “neutral” rating to a “buy” rating and set a $200.00 target price on the stock in a research note on Thursday, June 18th. Stifel Nicolaus dropped their target price on shares of Salesforce from $300.00 to $250.00 and set a “buy” rating for the company in a research report on Thursday, February 26th. Barclays raised shares of Salesforce from an “overweight” rating to an “overweight” rating in a report on Thursday, June 18th. Finally, Mizuho reduced their price target on shares of Salesforce from $280.00 to $265.00 and set an “outperform” rating on the stock in a research report on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, eleven have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and a consensus price target of $257.61.

Read Our Latest Research Report on CRM

Salesforce Profile

(Free Report)

Salesforce, founded in 1999 and headquartered in San Francisco, is a global provider of cloud-based software focused on customer relationship management (CRM) and enterprise applications. The company popularized the software-as-a-service (SaaS) model for CRM and has built a broad portfolio of products designed to help organizations manage sales, service, marketing, commerce and analytics through a unified, cloud-first platform.

Core offerings include Sales Cloud for sales automation, Service Cloud for customer support, Marketing Cloud for digital marketing and engagement, and Commerce Cloud for e-commerce.

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Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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