Allworth Financial LP raised its holdings in Salesforce Inc. (NYSE:CRM – Free Report) by 34.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 52,367 shares of the CRM provider’s stock after purchasing an additional 13,278 shares during the period. Allworth Financial LP’s holdings in Salesforce were worth $12,022,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. ABS Direct Equity Fund LLC bought a new stake in shares of Salesforce in the second quarter worth $25,000. Latitude Advisors LLC bought a new position in Salesforce during the 3rd quarter valued at $25,000. Manning & Napier Advisors LLC bought a new position in Salesforce during the 2nd quarter valued at $26,000. Persistent Asset Partners Ltd acquired a new position in Salesforce during the 2nd quarter worth $27,000. Finally, Gables Capital Management Inc. acquired a new position in Salesforce during the 2nd quarter worth $28,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.
Salesforce Stock Performance
CRM stock opened at $217.66 on Friday. The company has a 50-day simple moving average of $235.27 and a 200 day simple moving average of $198.36. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $179.13 billion, a P/E ratio of 16.10, a PEG ratio of 0.99 and a beta of 1.24. Salesforce Inc. has a fifty-two week low of $146.32 and a fifty-two week high of $269.11.
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Salesforce (NYSE:CRM – Get Free Report) last announced its earnings results on Wednesday, August 26th. The CRM provider reported $5.90 EPS for the quarter, topping the consensus estimate of $3.27 by $2.63. Salesforce had a return on equity of 24.90% and a net margin of 21.99%. The firm had revenue of $11.35 billion for the quarter, compared to analysts’ expectations of $11.33 billion. During the same quarter in the previous year, the company earned $2.91 earnings per share. The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. Salesforce has set its FY 2027 guidance at 16.670-16.710 EPS and its Q3 2027 guidance at 3.420-3.440 EPS. Sell-side analysts predict that Salesforce Inc. will post 12.82 earnings per share for the current fiscal year.
Salesforce Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, October 8th. Investors of record on Thursday, September 17th were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Thursday, September 17th. This represents a $1.76 annualized dividend and a yield of 0.8%. Salesforce’s dividend payout ratio is currently 16.04%.
Wall Street Analyst Weigh In
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CRM has been the topic of a number of recent analyst reports. KeyCorp initiated coverage on shares of Salesforce in a research note on Monday, October 12th. They issued a “sector weight” rating on the stock. BMO Capital Markets lifted their price target on Salesforce from $250.00 to $285.00 and gave the stock an “outperform” rating in a research note on Thursday, September 17th. Zacks Research upgraded Salesforce from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 3rd. Weiss Ratings raised Salesforce from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, September 24th. Finally, Citigroup restated a “market outperform” rating on shares of Salesforce in a research note on Tuesday, October 20th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and an average target price of $278.98.
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