Parallel Advisors LLC reduced its position in Salesforce Inc. (NYSE:CRM – Free Report) by 8.1% in the 1st quarter, HoldingsChannel reports. The firm owned 60,147 shares of the CRM provider’s stock after selling 5,316 shares during the period. Parallel Advisors LLC’s holdings in Salesforce were worth $11,228,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Commonwealth Retirement Investments LLC bought a new stake in Salesforce in the fourth quarter valued at approximately $25,000. Key Capital Management INC acquired a new position in shares of Salesforce during the 4th quarter worth approximately $26,000. Gilpin Wealth Management LLC acquired a new position in shares of Salesforce during the 4th quarter worth approximately $26,000. Legacy Bridge LLC acquired a new stake in Salesforce during the 4th quarter valued at $27,000. Finally, Costello Asset Management INC boosted its position in Salesforce by 410.3% during the first quarter. Costello Asset Management INC now owns 148 shares of the CRM provider’s stock worth $28,000 after purchasing an additional 119 shares during the period. Institutional investors own 80.43% of the company’s stock.
Analysts Set New Price Targets
Several brokerages recently commented on CRM. Macquarie Infrastructure reduced their target price on shares of Salesforce from $200.00 to $190.00 and set a “neutral” rating for the company in a report on Thursday, May 28th. Needham & Company LLC reissued a “buy” rating on shares of Salesforce in a report on Tuesday, June 16th. HSBC boosted their price objective on Salesforce from $350.00 to $356.00 and gave the stock a “buy” rating in a report on Friday, May 29th. B. Riley Financial upped their target price on Salesforce from $205.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Finally, Scotiabank lowered 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 assigned a Buy rating, fifteen have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $254.42.
Salesforce Stock Performance
Shares of CRM stock opened at $171.20 on Monday. The business’s 50-day moving average price is $170.64 and its 200-day moving average price is $190.67. The firm has a market capitalization of $140.21 billion, a price-to-earnings ratio of 19.82, a PEG ratio of 0.92 and a beta of 1.18. Salesforce Inc. has a 12 month low of $146.32 and a 12 month high of $274.00. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.15.
Salesforce (NYSE:CRM – Get Free Report) last issued its quarterly earnings data on Wednesday, May 27th. The CRM provider reported $3.88 earnings per share 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 company had revenue of $11.13 billion for the quarter, compared to analysts’ expectations of $11.05 billion. During the same quarter in the previous year, the firm posted $2.58 earnings per share. Salesforce’s revenue for the quarter 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. Equities research analysts forecast that Salesforce Inc. will post 10.29 EPS for the current year.
Salesforce Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Thursday, June 11th were paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Thursday, June 11th. Salesforce’s dividend payout ratio is currently 20.37%.
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.
Featured Articles
- Five stocks we like better than Salesforce
- Strait of Hormuz Tensions Spike Tanker Trade: These 2 Stocks Are Set to Benefit
- Shopify’s Quiet AI Strategy Could Be Its Biggest Advantage Yet
- Why These 3 Nuclear ETFs Are Getting a Fresh Look as AI Power Demand Rises
- 3 Aerospace Suppliers That Could Benefit as Aircraft Makers Face Bottlenecks
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:CRM – Free Report).
Receive News & Ratings for Salesforce Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Salesforce and related companies with MarketBeat.com's FREE daily email newsletter.
