Summit Global Investments bought a new stake in Salesforce Inc. (NYSE:CRM – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 13,227 shares of the CRM provider’s stock, valued at approximately $2,072,000.
Several other institutional investors and hedge funds have also modified their holdings of the business. Oppenheimer Asset Management Inc. bought a new position in Salesforce during the second quarter worth about $13,946,000. Bryn Mawr Trust Advisors LLC acquired a new position in shares of Salesforce during the 2nd quarter worth approximately $1,144,000. Mill Capital Management LLC acquired a new position in shares of Salesforce during the 2nd quarter worth approximately $9,375,000. Cornerstone Capital Inc. bought a new position in shares of Salesforce during the second quarter worth approximately $444,000. Finally, Northstar Group Inc. bought a new position in shares of Salesforce during the second quarter worth approximately $860,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.
Salesforce Price Performance
Shares of CRM stock opened at $195.86 on Friday. The business has a fifty day simple moving average of $171.41 and a 200 day simple moving average of $182.28. The company has a market cap of $160.41 billion, a P/E ratio of 22.67, a P/E/G ratio of 1.09 and a beta of 1.16. 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 $269.11.
Salesforce (NYSE:CRM – Get Free Report) last released its earnings results on Wednesday, May 27th. The CRM provider reported $3.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.13 by $0.75. The firm had revenue of $11.13 billion for the quarter, compared to analysts’ expectations of $11.05 billion. Salesforce had a return on equity of 18.72% and a net margin of 18.73%.The business’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the business 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, sell-side analysts forecast that Salesforce Inc. will post 10.27 EPS for the current fiscal year.
Salesforce Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Thursday, June 11th were issued a dividend of $0.44 per share. The ex-dividend date of this dividend was Thursday, June 11th. This represents a $1.76 annualized dividend and a dividend yield of 0.9%. Salesforce’s payout ratio is 20.37%.
Analyst Upgrades and Downgrades
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CRM has been the subject of several recent research reports. Daiwa Securities Group cut their price target on Salesforce from $295.00 to $280.00 and set a “buy” rating for the company in a research note on Tuesday, June 2nd. Raymond James Financial restated a “strong-buy” rating on shares of Salesforce in a research note on Tuesday, July 21st. Evercore reaffirmed an “outperform” rating on shares of Salesforce in a report on Tuesday, July 14th. BTIG Research reiterated a “buy” rating and set a $255.00 target price on shares of Salesforce in a research report on Tuesday, May 26th. Finally, BMO Capital Markets reduced their target price on Salesforce from $225.00 to $215.00 and set an “outperform” rating on the stock in a report on Thursday, May 28th. Two analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, seventeen have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $249.05.
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