Commerzbank Aktiengesellschaft FI acquired a new stake in Salesforce Inc. (NYSE:CRM – Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 588,164 shares of the CRM provider’s stock, valued at approximately $92,142,000. Salesforce accounts for approximately 1.8% of Commerzbank Aktiengesellschaft FI’s investment portfolio, making the stock its 17th largest holding. Commerzbank Aktiengesellschaft FI owned approximately 0.07% of Salesforce as of its most recent filing with the SEC.
A number of other hedge funds have also modified their holdings of CRM. Vanguard Group Inc. lifted its holdings in Salesforce by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 89,843,166 shares of the CRM provider’s stock valued at $23,800,353,000 after purchasing an additional 270,913 shares during the last quarter. State Street Corp raised its stake in shares of Salesforce by 1.3% in the fourth quarter. State Street Corp now owns 50,080,230 shares of the CRM provider’s stock valued at $13,286,909,000 after acquiring an additional 659,573 shares during the last quarter. J. Stern & Co. LLP boosted its holdings in shares of 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 worth $12,552,896,000 after acquiring an additional 47,189,352 shares in the last quarter. Capital International Investors grew its position in Salesforce by 13.3% during 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 last quarter. Finally, Geode Capital Management LLC raised its position in Salesforce by 3.8% in the 4th quarter. Geode Capital Management LLC now owns 21,782,556 shares of the CRM provider’s stock valued at $5,751,073,000 after purchasing an additional 791,345 shares during the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several analysts have recently commented on the company. Monness Crespi & Hardt increased their target price on Salesforce from $200.00 to $222.00 and gave the stock a “buy” rating in a report on Thursday, August 13th. KeyCorp downgraded shares of Salesforce from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, July 8th. Citizens Jmp reissued a “market outperform” rating and set a $315.00 price objective on shares of Salesforce in a report on Thursday, May 28th. Raymond James Financial restated a “strong-buy” rating on shares of Salesforce in a research report on Tuesday, July 21st. Finally, The Goldman Sachs Group initiated coverage on shares of Salesforce in a research note on Thursday, June 18th. They set a “neutral” rating on the stock. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, seventeen have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $249.05.
Salesforce Stock Down 2.6%
Shares of NYSE:CRM opened at $191.20 on Tuesday. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.79 and a quick ratio of 0.79. The stock has a market cap of $156.59 billion, a price-to-earnings ratio of 22.13, a P/E/G ratio of 1.06 and a beta of 1.16. The company has a 50 day moving average of $171.58 and a 200-day moving average of $181.69. Salesforce Inc. has a one year low of $146.32 and a one year high of $269.11.
Salesforce (NYSE:CRM – Get Free Report) last announced its quarterly earnings data on Wednesday, May 27th. The CRM provider reported $3.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.13 by $0.75. The firm had revenue of $11.13 billion for the quarter, compared to analysts’ expectations of $11.05 billion. Salesforce had a net margin of 18.73% and a return on equity of 18.72%. The business’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same period last year, the firm earned $2.58 earnings per share. 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, sell-side analysts forecast that Salesforce Inc. will post 10.27 earnings per share for the current year.
Salesforce Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Thursday, June 11th were issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Thursday, June 11th. Salesforce’s dividend payout ratio is currently 20.37%.
Salesforce Profile
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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