Financiere des Professionnels Fonds d investissement inc. Sells 21,366 Shares of Salesforce Inc. $CRM

Financiere des Professionnels Fonds d investissement inc. cut its position in shares of Salesforce Inc. (NYSE:CRM) by 62.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,000 shares of the CRM provider’s stock after selling 21,366 shares during the period. Financiere des Professionnels Fonds d investissement inc.’s holdings in Salesforce were worth $2,427,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its position in Salesforce by 13.7% in the 4th quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider’s stock valued at $8,582,000 after acquiring an additional 3,102 shares during the last quarter. Revolve Wealth Partners LLC lifted its position 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 worth $611,000 after purchasing an additional 205 shares during the last quarter. Bison Wealth LLC lifted its position in shares of Salesforce by 9.0% during the fourth 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 last quarter. Sivia Capital Partners LLC boosted its stake in shares of Salesforce by 3.7% during the second quarter. Sivia Capital Partners LLC now owns 2,958 shares of the CRM provider’s stock valued at $807,000 after purchasing an additional 106 shares during the period. Finally, United Bank grew its holdings in shares of 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 owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CRM has been the topic of several recent analyst reports. HC Wainwright downgraded shares of Salesforce to a “negative” rating in a research note on Thursday, June 18th. Citigroup upgraded shares of Salesforce from a “hold” rating to a “buy” rating in a research note on Wednesday, July 1st. Wolfe Research lowered shares of Salesforce from an “outperform” rating to a “hold” rating in a research report on Wednesday, July 1st. HSBC increased their price objective on Salesforce from $350.00 to $356.00 and gave the stock a “buy” rating in a research note on Friday, May 29th. Finally, The Goldman Sachs Group started coverage on Salesforce in a research note on Thursday, June 18th. They set a “neutral” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, fourteen have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $254.42.

Salesforce Price Performance

Shares of NYSE CRM opened at $171.20 on Friday. Salesforce Inc. has a fifty-two week low of $146.32 and a fifty-two week high of $274.00. The company has a market cap of $140.21 billion, a PE ratio of 19.82, a P/E/G ratio of 0.93 and a beta of 1.18. 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 business has a 50-day simple moving average of $170.64 and a two-hundred day simple moving average of $191.20.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, May 27th. The CRM provider reported $3.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.13 by $0.75. The firm had revenue of $11.13 billion for the quarter, compared to the consensus estimate of $11.05 billion. Salesforce had a net margin of 18.73% and a return on equity of 18.72%. The company’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.58 earnings per share. 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 analysts expect that Salesforce Inc. will post 10.29 EPS for the current fiscal year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders 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 1.0%. Salesforce’s dividend payout ratio (DPR) is currently 20.37%.

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.