14,057 Shares in Salesforce Inc. $CRM Acquired by Aljian Capital Management LLC

Aljian Capital Management LLC purchased a new position in shares of Salesforce Inc. (NYSE:CRM - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 14,057 shares of the CRM provider's stock, valued at approximately $2,202,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Temasek Holdings Private Ltd grew its position in Salesforce by 3.7% in the fourth quarter. Temasek Holdings Private Ltd now owns 683,790 shares of the CRM provider's stock valued at $181,143,000 after purchasing an additional 24,332 shares in the last quarter. SFE Investment Counsel boosted its position in Salesforce by 82.7% during the fourth quarter. SFE Investment Counsel now owns 17,394 shares of the CRM provider's stock valued at $4,608,000 after purchasing an additional 7,871 shares during the last quarter. Fluent Financial LLC bought a new stake in shares of Salesforce during the 2nd quarter worth approximately $2,265,000. Secured Retirement Advisors LLC bought a new position in shares of Salesforce in the first quarter valued at $1,004,000. Finally, Janus Henderson Group PLC increased its holdings in Salesforce by 2.5% during the first quarter. Janus Henderson Group PLC now owns 127,739 shares of the CRM provider's stock worth $23,846,000 after buying an additional 3,125 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CRM. The Goldman Sachs Group initiated coverage on shares of Salesforce in a research note on Thursday, June 18th. They issued a "neutral" rating for the company. JPMorgan Chase & Co. started coverage on shares of Salesforce in a report on Thursday, August 13th. They set an "overweight" rating and a $250.00 target price for the company. Canaccord Genuity Group restated a "buy" rating and set a $225.00 price objective on shares of Salesforce in a report on Tuesday, June 16th. HC Wainwright downgraded Salesforce to a "negative" rating in a research note on Thursday, June 18th. Finally, Daiwa Securities Group decreased their price target on shares of Salesforce from $295.00 to $280.00 and set a "buy" rating on the stock in a research note on Tuesday, June 2nd. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, eighteen have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Salesforce presently has an average rating of "Moderate Buy" and an average target price of $249.49.

Salesforce Stock Performance

NYSE:CRM opened at $196.28 on Wednesday. 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 market capitalization of $160.76 billion, a PE ratio of 22.72, a price-to-earnings-growth ratio of 1.06 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 stock's 50-day simple moving average is $172.00 and its 200 day simple moving average is $181.47.

Salesforce (NYSE:CRM - Get Free Report) last issued its earnings results on Wednesday, May 27th. The CRM provider reported $3.88 earnings per share for the quarter, beating analysts' consensus estimates of $3.13 by $0.75. Salesforce had a net margin of 18.73% and a return on equity of 18.72%. The firm had revenue of $11.13 billion for the quarter, compared to analyst estimates of $11.05 billion. During the same quarter last year, the business posted $2.58 earnings per share. The company's quarterly revenue was up 13.3% on a year-over-year basis. 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, analysts anticipate that Salesforce Inc. will post 10.27 EPS for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Thursday, June 11th were issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Thursday, June 11th. Salesforce's payout ratio is presently 20.37%.

Salesforce Company Profile

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.

Want to see what other hedge funds are holding CRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Salesforce Inc. (NYSE:CRM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source