Equita Financial Network Inc. acquired a new stake in Salesforce Inc. (NYSE:CRM – Free Report) in the first quarter, Holdings Channel reports. The institutional investor acquired 3,334 shares of the CRM provider’s stock, valued at approximately $622,000.
Other hedge funds also recently bought and sold shares of the company. St. Clair Advisors LLC lifted its holdings in Salesforce by 2.1% during the first quarter. St. Clair Advisors LLC now owns 5,459 shares of the CRM provider’s stock worth $1,019,000 after acquiring an additional 110 shares in the last quarter. Granite Harbor Advisors Inc. lifted its holdings in shares of Salesforce by 13.3% during the 1st quarter. Granite Harbor Advisors Inc. now owns 1,240 shares of the CRM provider’s stock valued at $231,000 after purchasing an additional 146 shares in the last quarter. Cross Staff Investments Inc acquired a new position in shares of Salesforce in the 1st quarter valued at approximately $215,000. Caliber Wealth Management LLC KS grew its position in shares of Salesforce by 25.1% in the 1st quarter. Caliber Wealth Management LLC KS now owns 10,153 shares of the CRM provider’s stock valued at $1,895,000 after purchasing an additional 2,040 shares during the period. Finally, Mayflower Financial Advisors LLC increased its stake in Salesforce by 13.1% during the 1st quarter. Mayflower Financial Advisors LLC now owns 2,950 shares of the CRM provider’s stock worth $551,000 after purchasing an additional 341 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
CRM has been the topic of a number of research reports. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $225.00 price target on shares of Salesforce in a research note on Tuesday, June 16th. Macquarie Infrastructure lowered their price objective on shares of Salesforce from $200.00 to $190.00 and set a “neutral” rating for the company in a research report on Thursday, May 28th. UBS Group restated a “neutral” rating on shares of Salesforce in a report on Tuesday, June 16th. Wells Fargo & Company cut their price objective on shares of Salesforce from $210.00 to $200.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 28th. Finally, Monness Crespi & Hardt raised shares of Salesforce from a “neutral” rating to a “buy” rating and set a $200.00 target price for the company in a research note on Thursday, June 18th. One research analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, twelve have given a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $255.14.
Salesforce Price Performance
Shares of CRM opened at $156.99 on Wednesday. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.15. Salesforce Inc. has a twelve month low of $146.32 and a twelve month high of $276.80. The stock has a market capitalization of $128.58 billion, a P/E ratio of 18.17, a P/E/G ratio of 0.98 and a beta of 1.16. The company has a 50 day moving average of $174.59 and a 200-day moving average of $199.31.
Salesforce (NYSE:CRM – Get Free Report) last announced its quarterly earnings data on Wednesday, May 27th. The CRM provider reported $3.88 EPS for the quarter, topping analysts’ consensus estimates of $3.13 by $0.75. Salesforce had a net margin of 18.73% and a return on equity of 18.72%. The business had revenue of $11.13 billion for the quarter, compared to analyst estimates of $11.05 billion. During the same quarter in the previous year, the firm posted $2.58 earnings per share. The firm’s revenue for the quarter 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. As a group, equities research analysts forecast that Salesforce Inc. will post 10.29 EPS for the current fiscal year.
Salesforce announced that its board has initiated a share repurchase plan on Monday, March 16th that authorizes the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization authorizes the CRM provider to buy up to 14.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.
Salesforce Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Thursday, June 11th will be paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Thursday, June 11th. Salesforce’s dividend payout ratio is currently 20.37%.
Key Salesforce News
Here are the key news stories impacting Salesforce this week:
- Positive Sentiment: Erste Group raised its FY2028 EPS estimate for Salesforce, signaling slightly better long-term earnings expectations versus the current consensus. MarketBeat Salesforce earnings update
- Positive Sentiment: Some coverage highlighted Salesforce as a potential pullback buy, noting analyst targets still imply meaningful upside from current levels. 5 Tech Stocks to Buy on the July Pullback
- Positive Sentiment: Investors continue to focus on Agentforce and Salesforce’s AI-driven, usage-based software strategy, which supports the long-term growth story after the latest quarter beat expectations and raised revenue guidance. Salesforce (CRM) Is Up 5.5% After Beating Q1 Targets And Raising Revenue Outlook – What’s Changed
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.
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