Cornerstone Capital Inc. purchased a new position in Salesforce Inc. (NYSE:CRM – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 2,833 shares of the CRM provider’s stock, valued at approximately $444,000.
A number of other institutional investors have also recently made changes to their positions in CRM. Brighton Jones LLC boosted its holdings in shares of Salesforce by 13.7% in the 4th quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider’s stock worth $8,582,000 after purchasing an additional 3,102 shares in the last quarter. Revolve Wealth Partners LLC lifted its position in Salesforce by 12.6% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,827 shares of the CRM provider’s stock worth $611,000 after buying an additional 205 shares during the last quarter. Bison Wealth LLC lifted its position in 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 buying an additional 184 shares during the last quarter. Sivia Capital Partners LLC boosted its stake 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 in the last quarter. Finally, United Bank boosted its stake in 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 buying an additional 500 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.
Salesforce Trading Down 2.7%
Shares of CRM opened at $195.86 on Friday. The stock has a market capitalization of $160.41 billion, a P/E ratio of 22.67, a PEG ratio of 1.09 and a beta of 1.16. Salesforce Inc. has a twelve month low of $146.32 and a twelve month high of $269.11. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.15. The firm has a fifty day simple moving average of $171.41 and a two-hundred day simple moving average of $182.28.
Salesforce (NYSE:CRM – Get Free Report) last issued its quarterly earnings data on Wednesday, May 27th. The CRM provider reported $3.88 EPS for the quarter, beating the consensus estimate of $3.13 by $0.75. The firm had revenue of $11.13 billion during 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 quarterly revenue was up 13.3% compared to the same quarter last year. During the same period in the prior year, the firm 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. On average, research analysts anticipate that Salesforce Inc. will post 10.27 EPS for the current year.
Salesforce Dividend Announcement
The firm also recently disclosed 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 was Thursday, June 11th. This represents a $1.76 annualized dividend and a yield of 0.9%. Salesforce’s dividend payout ratio (DPR) is 20.37%.
Wall Street Analyst Weigh In
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Several research analysts have commented on CRM shares. Bank of America assumed coverage on shares of Salesforce in a research note on Monday, May 18th. They set an “underperform” rating and a $160.00 price target on the stock. JPMorgan Chase & Co. assumed coverage on shares of Salesforce in a report on Thursday. They set an “overweight” rating and a $250.00 target price on the stock. BTIG Research reissued a “buy” rating and issued a $255.00 price target on shares of Salesforce in a research note on Tuesday, May 26th. Sanford C. Bernstein cut their price target on shares of Salesforce from $194.00 to $173.00 and set an “underperform” rating for the company in a research report on Thursday, May 28th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $250.00 price objective on shares of Salesforce in a research note on Thursday, May 28th. 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $249.05.
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