Danica Pension Livsforsikringsaktieselskab bought a new stake in shares of Salesforce Inc. (NYSE:CRM - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 83,515 shares of the CRM provider's stock, valued at approximately $13,083,000.
A number of other hedge funds have also made changes to their positions in CRM. Danske Bank A S acquired a new stake in shares of Salesforce during the second quarter worth approximately $161,164,000. Gables Capital Management Inc. purchased a new stake in Salesforce in the 2nd quarter worth approximately $28,000. Wealthfront Advisers LLC purchased a new stake in Salesforce in the 2nd quarter worth approximately $14,197,000. First National Bank of Omaha acquired a new stake in shares of Salesforce during the 2nd quarter valued at $12,060,000. Finally, Mowery & Schoenfeld Wealth Management LLC purchased a new position in shares of Salesforce during the 2nd quarter valued at $109,000. 80.43% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities analysts have recently weighed in on CRM shares. Susquehanna started coverage on shares of Salesforce in a research note on Wednesday, July 1st. They issued a "neutral" rating on the stock. B. Riley Financial upped their target price on Salesforce from $205.00 to $240.00 and gave the stock a "buy" rating in a research report on Thursday, May 28th. Evercore reaffirmed an "outperform" rating on shares of Salesforce in a research note on Tuesday, July 14th. Wells Fargo & Company lifted their price target on Salesforce from $200.00 to $205.00 and gave the company an "equal weight" rating in a report on Wednesday, August 12th. Finally, KeyCorp cut Salesforce from an "overweight" rating to a "sector weight" rating in a research note on Wednesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, eighteen have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $249.49.
Check Out Our Latest Stock Report on Salesforce
Salesforce Price Performance
NYSE CRM opened at $196.28 on Wednesday. Salesforce Inc. has a fifty-two week low of $146.32 and a fifty-two week high of $269.11. The stock's 50-day moving average is $172.00 and its two-hundred day moving average is $181.47. The firm has a market cap of $160.76 billion, a P/E ratio of 22.72, a price-to-earnings-growth ratio of 1.06 and a beta of 1.16. 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 (NYSE:CRM - Get Free Report) last released its quarterly earnings results on Wednesday, May 27th. The CRM provider reported $3.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.13 by $0.75. The company had revenue of $11.13 billion during the quarter, compared to the consensus estimate of $11.05 billion. Salesforce had a return on equity of 18.72% and a net margin of 18.73%.The firm's revenue was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.58 EPS. 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 anticipate that Salesforce Inc. will post 10.27 earnings per share for the current fiscal year.
Salesforce Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Thursday, June 11th were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Thursday, June 11th. This represents a $1.76 dividend on an annualized basis and a yield of 0.9%. Salesforce's dividend payout ratio is presently 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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