Envestnet Portfolio Solutions Inc. increased its position in shares of Salesforce Inc. (NYSE:CRM – Free Report) by 11.9% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 43,398 shares of the CRM provider’s stock after buying an additional 4,618 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Salesforce were worth $6,790,000 as of its most recent SEC filing.
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Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Commonwealth Retirement Investments LLC acquired a new stake in Salesforce during the 4th quarter worth $25,000. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in shares of Salesforce in the fourth quarter valued at about $34,000. Godfrey <a href="https://bitcomme.com/idx-sanctions-73-listed-companies-over-delayed-financial-reports/” title=”IDX sanctions 73 listed companies over delayed financial reports”>Financial Associates Inc. acquired a new stake in shares of Salesforce during the fourth quarter worth about $36,000. Abound Financial LLC acquired a new stake in shares of Salesforce during the fourth quarter worth about $38,000. Finally, Costello Asset Management INC grew its holdings in shares of Salesforce by 410.3% during the first quarter. Costello Asset Management INC now owns 148 shares of the CRM provider’s stock worth $28,000 after buying an additional 119 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.
Salesforce Stock Performance
Shares of CRM stock opened at $238.55 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.02. The stock has a 50 day simple moving average of $214.26 and a 200-day simple moving average of $190.30. The company has a market cap of $196.33 billion, a price-to-earnings ratio of 21.75, a price-to-earnings-growth ratio of 1.07 and a beta of 1.20. Salesforce Inc. has a 12-month low of $146.32 and a 12-month high of $269.11.
Salesforce (NYSE:CRM – Get Free Report) last posted its quarterly earnings results on Wednesday, August 26th. The CRM provider reported $5.90 earnings per share for the quarter, beating analysts’ consensus estimates of $3.27 by $2.63. The firm had revenue of $11.35 billion for the quarter, compared to the consensus estimate of $11.33 billion. Salesforce had a return on equity of 24.90% and a net margin of 21.99%.The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the previous year, the business earned $2.91 earnings per share. Salesforce has set its FY 2027 guidance at 16.670-16.710 EPS and its Q3 2027 guidance at 3.420-3.440 EPS. On average, equities analysts forecast that Salesforce Inc. will post 12.82 EPS for the current year.
Salesforce Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 8th. Shareholders of record on Thursday, September 17th will be issued a $0.44 dividend. The ex-dividend date of this dividend is Thursday, September 17th. This represents a $1.76 dividend on an annualized basis and a yield of 0.7%. Salesforce’s dividend payout ratio (DPR) is 16.04%.
Analyst Ratings Changes
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Several analysts have commented on CRM shares. HC Wainwright downgraded Salesforce to a “negative” rating in a research note on Thursday, June 18th. Stephens reiterated an “equal weight” rating and issued a $289.00 target price on shares of Salesforce in a research note on Friday, September 18th. JPMorgan Chase & Co. boosted their target price on Salesforce from $250.00 to $265.00 and gave the company an “overweight” rating in a report on Thursday, August 27th. Piper Sandler cut Salesforce from an “overweight” rating to a “neutral” rating in a research note on Thursday, May 28th. Finally, Roth Capital reaffirmed a “buy” rating and set a $325.00 price target on shares of Salesforce in a report on Thursday, May 28th. Three analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating, fourteen have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $275.14.
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