23,657 Shares in Salesforce Inc. $CRM Purchased by MidFirst Bank

Key Points

• MidFirst Bank purchased 23,657 Salesforce shares worth approximately $3.7 million during the second quarter. Institutional investors own 80.43% of Salesforce’s outstanding stock.
• Salesforce reported quarterly EPS of $3.88, beating estimates of $3.13, while revenue rose 13.3% year over year to $11.13 billion. The company also declared a quarterly dividend of $0.44 per share, representing a 0.9% annualized yield.
• Analyst sentiment remains positive but mixed, with Salesforce carrying a “Moderate Buy” consensus rating and an average price target of $249.05; shares recently traded at $191.20.

MidFirst Bank purchased a new stake in shares of Salesforce Inc. (NYSE:CRM - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 23,657 shares of the CRM provider's stock, valued at approximately $3,706,000.

Several other large investors have also recently added to or reduced their stakes in the company. Commonwealth Retirement Investments LLC bought a new position in shares of Salesforce in the fourth quarter valued at approximately $25,000. Gilpin Wealth Management LLC acquired a new stake in Salesforce during the 4th quarter valued at $26,000. Persistent Asset Partners Ltd bought a new position in Salesforce in the 2nd quarter valued at $27,000. Costello Asset Management INC boosted its stake in Salesforce by 410.3% in the first quarter. Costello Asset Management INC now owns 148 shares of the CRM provider's stock worth $28,000 after purchasing an additional 119 shares in the last quarter. Finally, Birchwood Financial Partners Inc. bought a new stake in shares of Salesforce during the fourth quarter worth $28,000. 80.43% of the stock is owned by institutional investors.

Salesforce Trading Down 2.6%

CRM opened at $191.20 on Tuesday. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.79 and a quick ratio of 0.79. The company has a market cap of $156.59 billion, a price-to-earnings ratio of 22.13, a price-to-earnings-growth ratio of 1.06 and a beta of 1.16. The firm has a 50 day simple moving average of $171.58 and a 200 day simple moving average of $181.69. Salesforce Inc. has a fifty-two week low of $146.32 and a fifty-two week high of $269.11.

Salesforce (NYSE:CRM - Get Free Report) last announced its quarterly earnings data 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. 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 analysts' expectations of $11.05 billion. During the same period last year, the firm earned $2.58 earnings per share. The business's revenue for the quarter 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, sell-side analysts anticipate that Salesforce Inc. will post 10.27 earnings per share for the current year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Thursday, June 11th were given a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Thursday, June 11th. Salesforce's dividend payout ratio (DPR) is currently 20.37%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Citizens Jmp reissued a "market outperform" rating and set a $315.00 price objective on shares of Salesforce in a report on Thursday, May 28th. Scotiabank lowered shares of Salesforce from a "sector outperform" rating to a "sector perform" rating in a report on Thursday, June 18th. B. Riley Financial boosted their price objective on shares of Salesforce from $205.00 to $240.00 and gave the stock a "buy" rating in a research report on Thursday, May 28th. Wall Street Zen downgraded Salesforce from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Finally, Guggenheim upgraded Salesforce from a "neutral" rating to a "buy" rating and set a $228.00 price objective on the stock in a research report on Wednesday, July 1st. 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 stock. Based on data from MarketBeat, Salesforce presently has an average rating of "Moderate Buy" and a consensus price target of $249.05.

About Salesforce

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.

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