FinArc Investments Inc. purchased a new position in Salesforce Inc. (NYSE:CRM – Free Report) during the 1st quarter, HoldingsChannel reports. The firm purchased 4,140 shares of the CRM provider’s stock, valued at approximately $773,000.
A number of other large investors also recently modified their holdings of CRM. Commonwealth Retirement Investments LLC acquired a new position in Salesforce during the 4th quarter valued at $25,000. Key Capital Management INC bought a new stake in shares of Salesforce in the fourth quarter valued at about $26,000. Gilpin Wealth Management LLC bought a new position in Salesforce during the fourth quarter valued at about $26,000. Legacy Bridge LLC acquired a new position in Salesforce in the 4th quarter valued at approximately $27,000. Finally, Texas Capital Bancshares Inc TX acquired a new stake in shares of Salesforce during the 3rd quarter worth approximately $28,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on CRM. Daiwa Securities Group cut their price target on shares of Salesforce from $295.00 to $280.00 and set a “buy” rating for the company in a research note on Tuesday, June 2nd. BMO Capital Markets decreased their price objective on Salesforce from $225.00 to $215.00 and set an “outperform” rating on the stock in a research report on Thursday, May 28th. Piper Sandler cut Salesforce from an “overweight” rating to a “neutral” rating in a report on Thursday, May 28th. Royal Bank Of Canada cut shares of Salesforce from a “sector perform” rating to a “sector perform” rating in a research report on Wednesday, July 1st. Finally, KeyCorp lowered shares of Salesforce from an “overweight” rating to a “sector weight” rating in a report on Wednesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, sixteen have assigned a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and an average price target of $249.51.
Salesforce Price Performance
Shares of NYSE CRM opened at $180.95 on Friday. The stock has a market capitalization of $148.20 billion, a price-to-earnings ratio of 20.94, a PEG ratio of 1.02 and a beta of 1.18. Salesforce Inc. has a fifty-two week low of $146.32 and a fifty-two week high of $269.11. The business has a 50-day moving average of $170.26 and a 200-day moving average of $185.02. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.79 and a quick ratio of 0.79.
Salesforce (NYSE:CRM – Get Free Report) last released 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. The company had revenue of $11.13 billion for the quarter, compared to analyst estimates of $11.05 billion. Salesforce had a net margin of 18.73% and a return on equity of 18.72%. Salesforce’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period in the previous year, the business 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. As a group, sell-side analysts predict that Salesforce Inc. will post 10.29 earnings per share 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. The ex-dividend date was Thursday, June 11th. This represents a $1.76 annualized dividend and a yield of 1.0%. Salesforce’s payout ratio is 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.
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