31,961 Shares in Salesforce Inc. $CRM Acquired by Occidental Asset Management LLC

Occidental Asset Management LLC bought a new position in Salesforce Inc. (NYSE:CRM) in the second quarter, according to the company in its most recent disclosure with the SEC. The fund bought 31,961 shares of the CRM provider’s stock, valued at approximately $5,007,000.

A number of other hedge funds have also added to or reduced their stakes in CRM. Brighton Jones LLC grew its holdings in shares of Salesforce by 13.7% in the fourth quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider’s stock worth $8,582,000 after acquiring an additional 3,102 shares during the period. Revolve Wealth Partners LLC increased its position in Salesforce by 12.6% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,827 shares of the CRM provider’s stock valued at $611,000 after acquiring an additional 205 shares during the last quarter. Bison Wealth LLC lifted its holdings in Salesforce by 9.0% in the fourth quarter. Bison Wealth LLC now owns 2,234 shares of the CRM provider’s stock valued at $747,000 after acquiring an additional 184 shares during the period. Sivia Capital Partners LLC lifted its holdings in Salesforce by 3.7% in the second quarter. Sivia Capital Partners LLC now owns 2,958 shares of the CRM provider’s stock valued at $807,000 after acquiring an additional 106 shares during the period. Finally, United Bank boosted its position in Salesforce by 5.2% in the second quarter. United Bank now owns 10,198 shares of the CRM provider’s stock worth $2,781,000 after purchasing an additional 500 shares during the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Stock Down 2.6%

NYSE CRM opened at $191.20 on Tuesday. Salesforce Inc. has a 52 week low of $146.32 and a 52 week high of $269.11. 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 company has a market capitalization of $156.59 billion, a P/E ratio of 22.13, a price-to-earnings-growth ratio of 1.06 and a beta of 1.16. The stock’s 50-day moving average price is $171.58 and its 200-day moving average price is $181.69.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, May 27th. The CRM provider reported $3.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.13 by $0.75. Salesforce had a return on equity of 18.72% and a net margin of 18.73%.The company had revenue of $11.13 billion during the quarter, compared to the consensus estimate of $11.05 billion. During the same period in the previous year, the company posted $2.58 EPS. The firm’s 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. On average, equities research analysts predict that Salesforce Inc. will post 10.27 earnings per share for the current year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Thursday, June 11th were paid 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 is 20.37%.

Analysts Set New Price Targets

Several research firms have recently commented on CRM. Royal Bank Of Canada lowered shares of Salesforce from a “sector perform” rating to a “sector perform” rating in a research report on Wednesday, July 1st. The Goldman Sachs Group began coverage on shares of Salesforce in a report on Thursday, June 18th. They issued a “neutral” rating on the stock. BTIG Research restated a “buy” rating and set a $255.00 target price on shares of Salesforce in a research report on Tuesday, May 26th. BMO Capital Markets reduced their target price on shares of Salesforce from $225.00 to $215.00 and set an “outperform” rating for the company in a report on Thursday, May 28th. Finally, KeyCorp downgraded shares of Salesforce from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, July 8th. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, seventeen have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and an average target price of $249.05.

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.