Jericho Financial LLP lifted its stake in shares of Salesforce Inc. (NYSE:CRM – Free Report) by 23.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,943 shares of the CRM provider’s stock after purchasing an additional 4,288 shares during the quarter. Salesforce comprises 2.7% of Jericho Financial LLP’s investment portfolio, making the stock its 20th biggest holding. Jericho Financial LLP’s holdings in Salesforce were worth $4,283,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors also recently made changes to their positions in the company. J. Stern & Co. LLP boosted its holdings in Salesforce by 24,056.7% in the fourth 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. Norges Bank acquired a new stake in Salesforce in the 4th quarter valued at $3,182,951,000. Capital World Investors increased its stake in Salesforce by 159.0% during the 3rd quarter. Capital World Investors now owns 17,325,206 shares of the CRM provider’s stock valued at $4,106,255,000 after purchasing an additional 10,636,161 shares in the last quarter. Cardano Risk Management B.V. raised its holdings in Salesforce by 924.7% during the fourth 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 during the last quarter. Finally, Capital International Investors lifted its stake in shares of Salesforce by 13.3% in the fourth quarter. Capital International Investors now owns 22,721,010 shares of the CRM provider’s stock valued at $6,019,199,000 after buying an additional 2,669,891 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities research analysts have recently commented on CRM shares. Weiss Ratings downgraded shares of Salesforce from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, June 17th. BTIG Research reiterated a “buy” rating and set a $255.00 price target on shares of Salesforce in a research note on Tuesday, May 26th. Needham & Company LLC reissued a “buy” rating on shares of Salesforce in a report on Tuesday, June 16th. Daiwa Securities Group lowered their price objective on Salesforce from $295.00 to $280.00 and set a “buy” rating for the company in a research note on Tuesday, June 2nd. Finally, Wolfe Research lowered Salesforce from an “outperform” rating to a “hold” rating in a report on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, twelve have given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and an average target price of $254.42.
Salesforce Trading Up 2.3%
Shares of CRM stock opened at $169.41 on Wednesday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.79 and a current ratio of 0.79. The company has a market capitalization of $138.75 billion, a price-to-earnings ratio of 19.61, a PEG ratio of 1.03 and a beta of 1.18. Salesforce Inc. has a 52-week low of $146.32 and a 52-week high of $276.80. The company has a 50-day simple moving average of $172.90 and a two-hundred day simple moving average of $196.06.
Salesforce (NYSE:CRM – Get Free Report) last posted its earnings results on Wednesday, May 27th. The CRM provider reported $3.88 EPS for the quarter, topping the consensus estimate 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 company’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter last year, the firm earned $2.58 EPS. Salesforce has set its FY 2027 guidance at 14.060-14.120 EPS and its Q2 2027 guidance at 3.250-3.270 EPS. Research analysts anticipate that Salesforce Inc. will post 10.29 EPS for the current fiscal year.
Salesforce Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Thursday, June 11th were paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Thursday, June 11th. Salesforce’s dividend payout ratio is 20.37%.
Salesforce declared that its Board of Directors has authorized a share buyback program on Monday, March 16th that authorizes the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization authorizes the CRM provider to purchase up to 14.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.
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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