31,961 Shares in Salesforce Inc. $CRM Acquired by Occidental Asset Management LLC

Key Points

• Occidental Asset Management acquired 31,961 Salesforce shares in the second quarter, worth approximately $5.0 million. Hedge funds and other institutional investors collectively own 80.43% of CRM.
• Salesforce reported quarterly revenue of $11.13 billion and EPS of $3.88, exceeding analyst estimates, while revenue increased 13.3% year over year.
• Analysts maintain a generally positive view, with Salesforce holding a “Moderate Buy” consensus rating and an average price target of $249.05 versus a reported share price of $191.20.

Occidental Asset Management LLC bought a new position in Salesforce Inc. (NYSE:CRM - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The fund bought 31,961 shares of the CRM provider's stock, valued at approximately $5,007,000.

A number of other hedge funds have also added to or reduced their stakes in CRM. Brighton Jones LLC grew its holdings in shares of Salesforce by 13.7% in the fourth quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider's stock worth $8,582,000 after acquiring an additional 3,102 shares during the period. Revolve Wealth Partners LLC increased its position in Salesforce by 12.6% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,827 shares of the CRM provider's stock valued at $611,000 after acquiring an additional 205 shares during the last quarter. Bison Wealth LLC lifted its holdings in Salesforce by 9.0% in the fourth quarter. Bison Wealth LLC now owns 2,234 shares of the CRM provider's stock valued at $747,000 after acquiring an additional 184 shares during the period. Sivia Capital Partners LLC lifted its holdings in Salesforce by 3.7% in the second quarter. Sivia Capital Partners LLC now owns 2,958 shares of the CRM provider's stock valued at $807,000 after acquiring an additional 106 shares during the period. Finally, United Bank boosted its position 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 purchasing an additional 500 shares during the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Stock Down 2.6%

NYSE CRM 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 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 price-to-earnings-growth ratio of 1.06 and a beta of 1.16. The stock's 50-day moving average price is $171.58 and its 200-day moving average price is $181.69.

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 return on equity of 18.72% and a net margin of 18.73%.The company had revenue of $11.13 billion during the quarter, compared to the consensus estimate of $11.05 billion. During the same period in the previous year, the company posted $2.58 EPS. The firm's 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, equities research analysts predict that Salesforce Inc. will post 10.27 earnings per share for the current year.

Salesforce Dividend Announcement

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

Analysts Set New Price Targets

Several research firms have recently commented on CRM. Royal Bank Of Canada lowered shares of Salesforce from a "sector perform" rating to a "sector perform" rating in a research report on Wednesday, July 1st. The Goldman Sachs Group began coverage on shares of Salesforce in a report on Thursday, June 18th. They issued a "neutral" rating on the stock. BTIG Research restated a "buy" rating and set a $255.00 target price on shares of Salesforce in a research report on Tuesday, May 26th. BMO Capital Markets reduced their target price on shares of Salesforce from $225.00 to $215.00 and set an "outperform" rating for the company in a report on Thursday, May 28th. Finally, KeyCorp downgraded shares of Salesforce from an "overweight" rating to a "sector weight" rating in a research report on Wednesday, July 8th. Two 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, Salesforce currently has an average rating of "Moderate Buy" and an average target price of $249.05.

Salesforce 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.

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