3,189 Shares in Salesforce Inc. $CRM Purchased by Texas Capital Bank Wealth Management Services Inc

Key Points

• Texas Capital Bank Wealth Management Services acquired 3,189 Salesforce shares in the second quarter, valued at approximately $500,000. Institutional investors and hedge funds collectively own 80.43% of the company.
• Analyst sentiment remains generally positive, with Salesforce holding a consensus “Moderate Buy” rating and an average price target of $249.05, despite several recent downgrades.
• Salesforce reported quarterly earnings of $3.88 per share on $11.13 billion in revenue, exceeding analyst estimates, and recently paid a quarterly dividend of $0.44 per share, equating to a 0.9% yield.

Texas Capital Bank Wealth Management Services Inc bought a new stake in shares of Salesforce Inc. (NYSE:CRM - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 3,189 shares of the CRM provider's stock, valued at approximately $500,000.

Several other institutional investors also recently bought and sold shares of the company. Commonwealth Retirement Investments LLC acquired a new stake in shares of Salesforce during the fourth quarter worth about $25,000. Gilpin Wealth Management LLC acquired a new position in shares of Salesforce in the fourth quarter valued at approximately $26,000. Persistent Asset Partners Ltd acquired a new position in shares of Salesforce in the second quarter valued at approximately $27,000. Costello Asset Management INC increased its stake in Salesforce by 410.3% during the 1st quarter. Costello Asset Management INC now owns 148 shares of the CRM provider's stock worth $28,000 after buying an additional 119 shares during the period. Finally, Birchwood Financial Partners Inc. purchased a new stake in Salesforce during the 4th quarter worth approximately $28,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. KeyCorp lowered shares of Salesforce from an "overweight" rating to a "sector weight" rating in a report on Wednesday, July 8th. Citizens Jmp restated a "market outperform" rating and issued a $315.00 price target on shares of Salesforce in a research note on Thursday, May 28th. Wolfe Research lowered Salesforce from an "outperform" rating to a "hold" rating in a research report on Wednesday, July 1st. Phillip Securities cut Salesforce from a "buy" rating to a "hold" rating and reduced their price objective for the company from $253.00 to $166.00 in a research note on Monday, June 29th. Finally, HC Wainwright lowered Salesforce to a "negative" rating in a report on Thursday, June 18th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, seventeen have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $249.05.

Salesforce Stock Down 2.6%

Shares of Salesforce stock opened at $191.20 on Tuesday. Salesforce Inc. has a 52-week low of $146.32 and a 52-week high of $269.11. The company has a 50 day moving average of $171.58 and a 200 day moving average of $181.69. 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 company has a market capitalization of $156.59 billion, a P/E ratio of 22.13, a P/E/G ratio of 1.06 and a beta of 1.16.

Salesforce (NYSE:CRM - Get Free Report) last announced its quarterly earnings data on Wednesday, May 27th. The CRM provider reported $3.88 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 company had revenue of $11.13 billion for the quarter, compared to the consensus estimate of $11.05 billion. During the same period in the prior year, the firm posted $2.58 EPS. The company's quarterly revenue was up 13.3% compared to the same quarter last year. Salesforce has set its FY 2027 guidance at 14.060-14.120 EPS and its Q2 2027 guidance at 3.250-3.270 EPS. As a group, research analysts forecast that Salesforce Inc. will post 10.27 EPS for the current fiscal year.

Salesforce Announces Dividend

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

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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