BlackRock Inc. Makes New Investment in Salesforce Inc. $CRM

BlackRock Inc. purchased a new stake in Salesforce Inc. (NYSE:CRM - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund purchased 72,748,909 shares of the CRM provider's stock, valued at approximately $11,396,844,000. BlackRock Inc. owned about 8.88% of Salesforce as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in the business. Commonwealth Retirement Investments LLC acquired a new position in Salesforce in the fourth quarter valued at $25,000. Gilpin Wealth Management LLC purchased a new position in Salesforce during the fourth quarter worth about $26,000. Birchwood Financial Partners Inc. acquired a new stake in Salesforce in the 4th quarter worth about $28,000. Swiss RE Ltd. purchased a new stake in Salesforce in the 4th quarter valued at about $28,000. Finally, Dogwood Wealth Management LLC grew its holdings in Salesforce by 285.7% in the 4th quarter. Dogwood Wealth Management LLC now owns 108 shares of the CRM provider's stock valued at $29,000 after buying an additional 80 shares during the period. Hedge funds and other institutional investors own 80.43% of the company's stock.

Salesforce Stock Performance

NYSE 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. Salesforce Inc. has a 1-year low of $146.32 and a 1-year high of $269.11. The firm 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. The business's 50-day simple moving average is $171.58 and its 200-day simple moving average is $181.69.

Salesforce (NYSE:CRM - Get Free Report) last posted its earnings results on Wednesday, May 27th. The CRM provider reported $3.88 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $11.05 billion. During the same quarter in the prior year, the company earned $2.58 EPS. The company'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. Equities analysts predict that Salesforce Inc. will post 10.27 EPS for the current year.

Salesforce Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Citigroup upgraded shares of Salesforce from a "hold" rating to a "buy" rating in a report on Wednesday, July 1st. Morgan Stanley restated an "equal weight" rating and issued a $185.00 target price (down from $287.00) on shares of Salesforce in a report on Tuesday, July 21st. Scotiabank lowered shares of Salesforce from a "sector outperform" rating to a "sector perform" rating in a research report on Thursday, June 18th. Wells Fargo & Company increased their price target on shares of Salesforce from $200.00 to $205.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 12th. Finally, DA Davidson decreased their price target on shares of Salesforce from $200.00 to $175.00 and set a "neutral" rating on the stock in a report on Thursday, May 28th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, seventeen have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $249.05.

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.

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