Mandatum Life Insurance Co Ltd Makes New Investment in Salesforce Inc. $CRM

Mandatum Life Insurance Co Ltd purchased a new position in Salesforce Inc. (NYSE:CRMFree Report) in the 1st quarter, HoldingsChannel.com reports. The firm purchased 16,088 shares of the CRM provider’s stock, valued at approximately $3,003,000. Salesforce accounts for approximately 0.7% of Mandatum Life Insurance Co Ltd’s investment portfolio, making the stock its 28th biggest position.

A number of other large investors also recently modified their holdings of CRM. J. Stern & Co. LLP grew its position in Salesforce by 24,056.7% in the 4th quarter. J. Stern & Co. LLP now owns 47,385,511 shares of the CRM provider’s stock valued at $12,552,896,000 after buying an additional 47,189,352 shares in the last quarter. Norges Bank bought a new stake in shares of Salesforce during the 4th quarter worth about $3,182,951,000. Cardano Risk Management B.V. raised its position in shares of Salesforce by 924.7% during the 4th quarter. Cardano Risk Management B.V. now owns 3,883,610 shares of the CRM provider’s stock worth $1,028,807,000 after buying an additional 3,504,605 shares in the last quarter. Capital International Investors lifted its stake in shares of Salesforce by 13.3% in the 4th quarter. Capital International Investors now owns 22,721,010 shares of the CRM provider’s stock worth $6,019,199,000 after acquiring an additional 2,669,891 shares during the period. Finally, Capital World Investors boosted its holdings in shares of Salesforce by 13.5% in the fourth quarter. Capital World Investors now owns 19,672,684 shares of the CRM provider’s stock valued at $5,211,515,000 after acquiring an additional 2,347,478 shares in the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce News Roundup

Here are the key news stories impacting Salesforce this week:

Salesforce Stock Performance

Shares of NYSE CRM opened at $167.55 on Wednesday. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.15. The stock has a market capitalization of $137.23 billion, a price-to-earnings ratio of 19.39, a PEG ratio of 0.92 and a beta of 1.18. The stock’s fifty day simple moving average is $171.40 and its 200 day simple moving average is $192.68. Salesforce Inc. has a 52-week low of $146.32 and a 52-week high of $274.00.

Salesforce (NYSE:CRMGet Free Report) last announced its earnings results on Wednesday, May 27th. The CRM provider reported $3.88 EPS for the quarter, beating the consensus estimate of $3.13 by $0.75. Salesforce had a return on equity of 18.72% and a net margin of 18.73%.The business had revenue of $11.13 billion during the quarter, compared to the consensus estimate of $11.05 billion. During the same period in the prior year, the business posted $2.58 earnings per share. Salesforce’s revenue was up 13.3% compared to the same quarter last year. Salesforce has set its FY 2027 guidance at 14.060-14.120 EPS and its Q2 2027 guidance at 3.250-3.270 EPS. As a group, sell-side analysts forecast that Salesforce Inc. will post 10.29 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Thursday, June 11th were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Thursday, June 11th. This represents a $1.76 dividend on an annualized basis and a yield of 1.1%. Salesforce’s dividend payout ratio is currently 20.37%.

Wall Street Analyst Weigh In

A number of research firms recently commented on CRM. Royal Bank Of Canada lowered shares of Salesforce from a “sector perform” rating to a “sector perform” rating in a research note on Wednesday, July 1st. Wall Street Zen raised Salesforce from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. Roth Capital reiterated a “buy” rating and set a $325.00 price target on shares of Salesforce in a research report on Thursday, May 28th. Citigroup upgraded Salesforce from a “hold” rating to a “buy” rating in a report on Wednesday, July 1st. Finally, Scotiabank cut Salesforce from a “sector outperform” rating to a “sector perform” rating in a research note on Thursday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, fourteen have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $254.42.

Check Out Our Latest Stock Analysis on CRM

Salesforce Company 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.

See Also

Want to see what other hedge funds are holding CRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Salesforce Inc. (NYSE:CRMFree Report).

Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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