Danica Pension Livsforsikringsaktieselskab Makes New $13.08 Million Investment in Salesforce Inc. $CRM

Danica Pension Livsforsikringsaktieselskab bought a new stake in shares of Salesforce Inc. (NYSE:CRM) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 83,515 shares of the CRM provider’s stock, valued at approximately $13,083,000.

A number of other hedge funds have also made changes to their positions in CRM. Danske Bank A S acquired a new stake in shares of Salesforce during the second quarter worth approximately $161,164,000. Gables Capital Management Inc. purchased a new stake in Salesforce in the 2nd quarter worth approximately $28,000. Wealthfront Advisers LLC purchased a new stake in Salesforce in the 2nd quarter worth approximately $14,197,000. First National Bank of Omaha acquired a new stake in shares of Salesforce during the 2nd quarter valued at $12,060,000. Finally, Mowery & Schoenfeld Wealth Management LLC purchased a new position in shares of Salesforce during the 2nd quarter valued at $109,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on CRM shares. Susquehanna started coverage on shares of Salesforce in a research note on Wednesday, July 1st. They issued a “neutral” rating on the stock. B. Riley Financial upped their target price on Salesforce from $205.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Evercore reaffirmed an “outperform” rating on shares of Salesforce in a research note on Tuesday, July 14th. Wells Fargo & Company lifted their price target on Salesforce from $200.00 to $205.00 and gave the company an “equal weight” rating in a report on Wednesday, August 12th. Finally, KeyCorp cut Salesforce from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, eighteen have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $249.49.

Salesforce Price Performance

NYSE CRM opened at $196.28 on Wednesday. Salesforce Inc. has a fifty-two week low of $146.32 and a fifty-two week high of $269.11. The stock’s 50-day moving average is $172.00 and its two-hundred day moving average is $181.47. The firm has a market cap of $160.76 billion, a P/E ratio of 22.72, a price-to-earnings-growth ratio of 1.06 and a beta of 1.16. 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) last released its quarterly earnings results on Wednesday, May 27th. The CRM provider reported $3.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.13 by $0.75. The company had revenue of $11.13 billion during the quarter, compared to the consensus estimate of $11.05 billion. Salesforce had a return on equity of 18.72% and a net margin of 18.73%.The firm’s revenue was up 13.3% on a year-over-year basis. During the same quarter 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. On average, analysts anticipate that Salesforce Inc. will post 10.27 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Thursday, June 11th were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Thursday, June 11th. This represents a $1.76 dividend on an annualized basis and a yield of 0.9%. Salesforce’s dividend payout ratio is presently 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.