Citizens Financial Group Inc. RI Purchases Shares of 20,010 Salesforce Inc. $CRM

Citizens Financial Group Inc. RI purchased a new stake in shares of Salesforce Inc. (NYSE:CRM) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 20,010 shares of the CRM provider’s stock, valued at approximately $3,143,000.

A number of other institutional investors have also recently made changes to their positions in CRM. Brighton Jones LLC raised its position in Salesforce by 13.7% during the fourth quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider’s stock valued at $8,582,000 after purchasing an additional 3,102 shares in the last quarter. Revolve Wealth Partners LLC raised its holdings in shares of 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 in the last quarter. Bison Wealth LLC lifted its position in shares of Salesforce by 9.0% in the 4th quarter. Bison Wealth LLC now owns 2,234 shares of the CRM provider’s stock worth $747,000 after purchasing 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 worth $807,000 after buying an additional 106 shares during the period. Finally, United Bank boosted its position in shares of Salesforce by 5.2% during the second quarter. United Bank now owns 10,198 shares of the CRM provider’s stock valued at $2,781,000 after purchasing an additional 500 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Performance

Shares of CRM opened at $191.20 on Tuesday. The business’s fifty day simple moving average is $171.58 and its two-hundred day simple moving average is $181.69. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.15. Salesforce Inc. has a 12 month low of $146.32 and a 12 month high of $269.11. The company has a market cap of $156.59 billion, a price-to-earnings ratio of 22.13, a P/E/G ratio of 1.06 and a beta of 1.16.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Wednesday, May 27th. The CRM provider reported $3.88 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%.Salesforce’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same period last year, the company earned $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. Research analysts anticipate that Salesforce Inc. will post 10.27 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Thursday, June 11th were issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Thursday, June 11th. Salesforce’s payout ratio is presently 20.37%.

Wall Street Analyst Weigh In

CRM has been the subject of a number of recent research reports. Jefferies Financial Group raised shares of Salesforce from a “buy” rating to a “buy” rating in a research report on Wednesday, July 1st. Raymond James Financial restated a “strong-buy” rating on shares of Salesforce in a report on Tuesday, July 21st. TD Cowen reaffirmed a “buy” rating on shares of Salesforce in a research note on Friday, June 12th. Phillip Securities cut Salesforce from a “buy” rating to a “hold” rating and dropped their price target for the stock from $253.00 to $166.00 in a research report on Monday, June 29th. Finally, Royal Bank Of Canada downgraded Salesforce from a “sector perform” rating to a “sector perform” rating in a research note on Wednesday, July 1st. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, seventeen have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.