Lavelle Capital LP bought a new stake in shares of Salesforce Inc. (NYSE:CRM – Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 5,431 shares of the CRM provider’s stock, valued at approximately $1,014,000.
Other institutional investors have also modified their holdings of the company. Commonwealth Retirement Investments LLC purchased a new stake in shares of Salesforce during the 4th quarter worth $25,000. Key Capital Management INC acquired a new stake in shares of Salesforce in the 4th quarter valued at about $26,000. Gilpin Wealth Management LLC purchased a new position in shares of Salesforce during the fourth quarter worth approximately $26,000. Legacy Bridge LLC acquired a new position in Salesforce in the fourth quarter valued at $27,000. Finally, Birchwood Financial Partners Inc. acquired a new position in Salesforce in the 4th quarter valued at about $28,000. Institutional investors and hedge funds own 80.43% of the company’s stock.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on CRM shares. Wedbush began coverage on Salesforce in a research note on Wednesday, July 1st. They issued an “outperform” rating on the stock. Guggenheim upgraded shares of Salesforce from a “neutral” rating to a “buy” rating and set a $228.00 price target for the company in a report on Wednesday, July 1st. Phillip Securities downgraded shares of Salesforce from a “buy” rating to a “hold” rating and reduced their price target for the company from $253.00 to $166.00 in a research report on Monday, June 29th. Sanford C. Bernstein decreased their target price on Salesforce from $194.00 to $173.00 and set an “underperform” rating on the stock in a research report on Thursday, May 28th. Finally, Wall Street Zen downgraded Salesforce from a “buy” rating to a “hold” rating in a research note on Saturday. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, sixteen have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, Salesforce currently has a consensus rating of “Moderate Buy” and an average price target of $249.51.
Salesforce Stock Up 2.0%
Shares of NYSE CRM opened at $184.34 on Friday. The stock has a market capitalization of $150.98 billion, a PE ratio of 21.34, a P/E/G ratio of 1.00 and a beta of 1.18. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.15. The firm has a fifty day moving average of $170.34 and a 200-day moving average of $185.01. Salesforce Inc. has a 52-week low of $146.32 and a 52-week high of $269.11.
Salesforce (NYSE:CRM – Get Free Report) last announced its quarterly earnings results on Wednesday, May 27th. The CRM provider reported $3.88 earnings per share for the quarter, beating analysts’ consensus estimates of $3.13 by $0.75. Salesforce had a net margin of 18.73% and a return on equity of 18.72%. The firm had revenue of $11.13 billion for the quarter, compared to analysts’ expectations of $11.05 billion. During the same period in the previous year, the company posted $2.58 earnings per share. Salesforce’s revenue was up 13.3% compared to the same quarter last year. 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, analysts anticipate that Salesforce Inc. will post 10.27 EPS for the current year.
Salesforce Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Thursday, June 11th were given a $0.44 dividend. The ex-dividend date of this dividend was Thursday, June 11th. This represents a $1.76 annualized dividend and a dividend yield of 1.0%. Salesforce’s dividend payout ratio is presently 20.37%.
About Salesforce
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 Stories
- Five stocks we like better than Salesforce
- Popular’s Earnings Beat Shows Why This Bank Stock Keeps Climbing
- ABB’s Rotork Deal Could Put These Flow Control Stocks Back in Focus
- GE HealthCare Stock Climbs on Vital Diagnostics Demand
- Lost in Space: Why Aerospace Valuations Are Plummeting Right Now
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.
