M. Kulyk & Associates LLC bought a new position in Salesforce Inc. (NYSE:CRM – Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,838 shares of the CRM provider’s stock, valued at approximately $1,854,000.
Several other institutional investors and hedge funds have also recently modified their holdings of CRM. RHS Financial LLC bought a new position in shares of Salesforce in the second quarter worth approximately $266,000. Aljian Capital Management LLC bought a new position in Salesforce in the second quarter valued at about $2,202,000. Meeder Advisory Services Inc. purchased a new position in shares of Salesforce in the second quarter worth approximately $2,294,000. Meeder Asset Management Inc. bought a new position in Salesforce in the 2nd quarter worth $106,000. Finally, Tiemann Investment Advisors LLC purchased a new stake in Salesforce in the second quarter worth about $1,372,000. 80.43% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several research analysts have recently commented on CRM shares. Evercore reaffirmed an “outperform” rating on shares of Salesforce in a research note on Tuesday, July 14th. Truist Financial lowered shares of Salesforce from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 1st. Daiwa Securities Group decreased their price target on Salesforce from $295.00 to $280.00 and set a “buy” rating on the stock in a report on Tuesday, June 2nd. UBS Group boosted their target price on shares of Salesforce from $185.00 to $210.00 and gave the stock a “neutral” rating in a report on Wednesday, August 12th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $185.00 price target (down from $287.00) on shares of Salesforce in a research note on Tuesday, July 21st. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, eighteen have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and an average target price of $249.49.
Salesforce Price Performance
Salesforce stock opened at $196.28 on Wednesday. Salesforce Inc. has a 12-month low of $146.32 and a 12-month high of $269.11. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.15. The firm has a 50-day moving average price of $172.00 and a 200-day moving average price of $181.47. The firm has a market capitalization of $160.76 billion, a PE ratio of 22.72, a price-to-earnings-growth ratio of 1.06 and a beta of 1.16.
Salesforce (NYSE:CRM – Get Free Report) last posted its quarterly earnings data on Wednesday, May 27th. The CRM provider reported $3.88 earnings per share for the quarter, topping analysts’ consensus estimates 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%. The firm’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same period in the prior year, the company posted $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, equities research analysts forecast that Salesforce Inc. will post 10.27 EPS for the current year.
Salesforce Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Thursday, June 11th were paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Thursday, June 11th. Salesforce’s dividend payout ratio (DPR) is currently 20.37%.
Salesforce 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 Stories
- Five stocks we like better than Salesforce
- The AI Boom Is Turning This Cable Maker Into a Stock to Watch
- A Star Investor Just Trimmed Amazon—Here’s What It means
- Wendy’s Deal Buzz May Give Fast-Food Investors a New Reason to Look
- Home Depot Analysts See a Path to $375 and Beyond
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.
