Danske Bank A S Takes Position in Salesforce Inc. $CRM

Danske Bank A S acquired a new position in Salesforce Inc. (NYSE:CRM) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 1,028,751 shares of the CRM provider’s stock, valued at approximately $161,164,000.

Several other institutional investors have also recently made changes to their positions in CRM. Fred Alger Management LLC lifted its holdings in Salesforce by 0.3% in the 3rd quarter. Fred Alger Management LLC now owns 14,943 shares of the CRM provider’s stock worth $3,548,000 after purchasing an additional 45 shares in the last quarter. Richards Merrill & Peterson Inc. boosted its stake in Salesforce by 1.1% in the 4th quarter. Richards Merrill & Peterson Inc. now owns 4,239 shares of the CRM provider’s stock worth $1,123,000 after purchasing an additional 46 shares during the period. Mowery & Schoenfeld Wealth Management LLC grew its holdings in Salesforce by 6.9% during the 4th quarter. Mowery & Schoenfeld Wealth Management LLC now owns 745 shares of the CRM provider’s stock valued at $197,000 after buying an additional 48 shares in the last quarter. Synergy Financial Group LTD grew its holdings in Salesforce by 2.4% during the 3rd quarter. Synergy Financial Group LTD now owns 2,035 shares of the CRM provider’s stock valued at $482,000 after buying an additional 48 shares in the last quarter. Finally, Arbor Capital Management Inc. ADV raised its position in shares of Salesforce by 1.6% during the fourth quarter. Arbor Capital Management Inc. ADV now owns 3,321 shares of the CRM provider’s stock valued at $884,000 after buying an additional 51 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Trading Up 2.8%

CRM stock opened at $196.28 on Wednesday. The firm has a fifty day moving average price of $172.00 and a 200 day moving average price of $181.47. Salesforce Inc. has a fifty-two week low of $146.32 and a fifty-two week high of $269.11. 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 firm has a market cap 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) last announced its quarterly earnings results 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 business posted $2.58 earnings per share. Salesforce’s quarterly revenue 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. Sell-side analysts anticipate that Salesforce Inc. will post 10.27 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Thursday, June 11th were issued a $0.44 dividend. The ex-dividend date of this dividend was Thursday, June 11th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.9%. Salesforce’s dividend payout ratio (DPR) is presently 20.37%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Roth Capital reissued a “buy” rating and issued a $325.00 target price on shares of Salesforce in a report on Thursday, May 28th. HSBC raised their target price on shares of Salesforce from $350.00 to $356.00 and gave the company a “buy” rating in a research note on Friday, May 29th. Jefferies Financial Group upgraded shares of Salesforce from a “buy” rating to a “buy” rating in a report on Wednesday, July 1st. Wells Fargo & Company boosted their price target on shares of Salesforce from $200.00 to $205.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 12th. Finally, HC Wainwright downgraded shares of Salesforce to a “negative” rating in a report on Thursday, June 18th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, eighteen have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, Salesforce currently has an average rating of “Moderate Buy” and an average price target of $249.49.

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.