Allspring Global Investments Holdings LLC increased its position in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 17.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 479,992 shares of the CRM provider's stock after buying an additional 71,081 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.06% of Salesforce worth $89,394,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Commonwealth Retirement Investments LLC purchased a new stake in shares of Salesforce in the fourth quarter valued at about $25,000. Board of the Pension Protection Fund acquired a new position in Salesforce in the 4th quarter valued at about $26,000. Key Capital Management INC purchased a new stake in Salesforce during the 4th quarter valued at approximately $26,000. Gilpin Wealth Management LLC acquired a new stake in Salesforce during the 4th quarter worth approximately $26,000. Finally, Legacy Bridge LLC acquired a new stake in Salesforce during the 4th quarter worth approximately $27,000. Institutional investors and hedge funds own 80.43% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms have recently issued reports on CRM. Citigroup raised Salesforce from a "hold" rating to a "buy" rating in a report on Wednesday, July 1st. Wedbush started coverage on Salesforce in a report on Wednesday, July 1st. They set an "outperform" rating for the company. Needham & Company LLC reiterated a "buy" rating on shares of Salesforce in a research report on Tuesday, June 16th. BMO Capital Markets dropped their price objective on shares of Salesforce from $225.00 to $215.00 and set an "outperform" rating on the stock in a research note on Thursday, May 28th. Finally, Wolfe Research downgraded shares of Salesforce from an "outperform" rating to a "hold" rating in a research report on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, fourteen have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $254.42.
View Our Latest Analysis on Salesforce
Salesforce Price Performance
Shares of NYSE:CRM opened at $171.20 on Friday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.79 and a current ratio of 0.79. The business's fifty day moving average price is $170.64 and its two-hundred day moving average price is $191.20. The stock has a market cap of $140.21 billion, a PE ratio of 19.82, a price-to-earnings-growth ratio of 0.93 and a beta of 1.18. Salesforce Inc. has a one year low of $146.32 and a one year high of $274.00.
Salesforce (NYSE:CRM - Get Free Report) last released its quarterly earnings results on Wednesday, May 27th. The CRM provider reported $3.88 earnings per share for the quarter, topping analysts' consensus estimates of $3.13 by $0.75. The company had revenue of $11.13 billion during 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% compared to the same quarter last year. During the same period in the previous year, the firm 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, analysts forecast that Salesforce Inc. will post 10.29 EPS for the current fiscal year.
Salesforce Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Thursday, June 11th were issued a dividend of $0.44 per share. The ex-dividend date was Thursday, June 11th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.0%. Salesforce's payout ratio is 20.37%.
Salesforce Company Profile
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Free Report)
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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