IFM Investors Pty Ltd grew its holdings in shares of Salesforce Inc. (NYSE:CRM – Free Report) by 1.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 193,918 shares of the CRM provider’s stock after buying an additional 3,633 shares during the quarter. IFM Investors Pty Ltd’s holdings in Salesforce were worth $36,199,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the stock. Commonwealth Retirement Investments LLC acquired a new stake in Salesforce in the fourth quarter valued at $25,000. Board of the Pension Protection Fund acquired a new position in Salesforce during the 4th quarter worth $26,000. Key Capital Management INC bought a new stake in shares of Salesforce in the 4th quarter worth about $26,000. Gilpin Wealth Management LLC bought a new stake in shares of Salesforce in the 4th quarter worth about $26,000. Finally, Legacy Bridge LLC acquired a new stake in shares of Salesforce in the 4th quarter valued at about $27,000. Institutional investors and hedge funds own 80.43% of the company’s stock.
Salesforce Stock Performance
Shares of CRM stock opened at $156.99 on Wednesday. The company has a market cap of $128.58 billion, a P/E ratio of 18.17, a PEG ratio of 0.98 and a beta of 1.16. The business has a 50 day moving average of $174.59 and a two-hundred day moving average of $199.31. Salesforce Inc. has a 52 week low of $146.32 and a 52 week high of $276.80. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.15.
Salesforce announced that its board has authorized a share buyback program on Monday, March 16th that permits the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization permits the CRM provider to buy up to 14.1% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
Salesforce Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Thursday, June 11th will be given a $0.44 dividend. The ex-dividend date of this dividend is Thursday, June 11th. This represents a $1.76 annualized dividend and a yield of 1.1%. Salesforce’s dividend payout ratio (DPR) is currently 20.37%.
Salesforce News Roundup
Here are the key news stories impacting Salesforce this week:
- Positive Sentiment: Erste Group raised its FY2028 EPS estimate for Salesforce, signaling slightly better long-term earnings expectations versus the current consensus. MarketBeat Salesforce earnings update
- Positive Sentiment: Some coverage highlighted Salesforce as a potential pullback buy, noting analyst targets still imply meaningful upside from current levels. 5 Tech Stocks to Buy on the July Pullback
- Positive Sentiment: Investors continue to focus on Agentforce and Salesforce’s AI-driven, usage-based software strategy, which supports the long-term growth story after the latest quarter beat expectations and raised revenue guidance. Salesforce (CRM) Is Up 5.5% After Beating Q1 Targets And Raising Revenue Outlook – What’s Changed
Wall Street Analysts Forecast Growth
A number of research firms recently commented on CRM. Roth Mkm reiterated a “buy” rating and issued a $325.00 price target on shares of Salesforce in a research note on Thursday, May 28th. Bank of America initiated coverage on Salesforce in a research note on Monday, May 18th. They set an “underperform” rating and a $160.00 price objective on the stock. Wells Fargo & Company reduced their target price on Salesforce from $210.00 to $200.00 and set an “equal weight” rating on the stock in a report on Thursday, May 28th. Canaccord Genuity Group reiterated a “buy” rating and issued a $225.00 target price on shares of Salesforce in a research report on Tuesday, June 16th. Finally, KeyCorp dropped their price target on Salesforce from $300.00 to $290.00 and set an “overweight” rating on the stock in a research report on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, twelve have assigned a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $255.14.
Check Out Our Latest Research Report on Salesforce
Salesforce Company 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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