Danske Bank A S Makes New $161.16 Million Investment in Salesforce Inc. $CRM

Key Points

• Danske Bank A S acquired 1,028,751 Salesforce shares worth approximately $161.2 million during the second quarter, giving it a 0.13% stake. Institutional investors collectively own 80.43% of Salesforce.
• Salesforce reported quarterly EPS of $3.88, exceeding the $3.13 consensus estimate, while revenue rose 13.3% year over year to $11.13 billion.
• Salesforce pays a quarterly dividend of $0.44, equivalent to an annualized $1.76 and a 0.9% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $249.49.

Danske Bank A S bought a new stake in shares of Salesforce Inc. (NYSE:CRM - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 1,028,751 shares of the CRM provider's stock, valued at approximately $161,164,000. Danske Bank A S owned about 0.13% of Salesforce at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Gables Capital Management Inc. purchased a new stake in Salesforce during the second quarter valued at $28,000. Wealthfront Advisers LLC purchased a new position in Salesforce in the second quarter worth about $14,197,000. First National Bank of Omaha purchased a new position in Salesforce in the second quarter worth about $12,060,000. Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of Salesforce during the 2nd quarter valued at about $109,000. Finally, Element Pointe Advisors LLC purchased a new stake in shares of Salesforce during the 2nd quarter valued at about $672,000. 80.43% of the stock is owned by institutional investors.

Salesforce Stock Up 2.8%

CRM stock opened at $196.28 on Wednesday. The business's 50-day moving average price is $172.00 and its 200-day moving average price is $181.47. The stock has a market cap of $160.76 billion, a P/E ratio of 22.72, a PEG ratio of 1.06 and a beta of 1.16. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.15. Salesforce Inc. has a twelve month low of $146.32 and a twelve month high of $269.11.

Salesforce (NYSE:CRM - Get Free Report) last released its 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. Salesforce had a net margin of 18.73% and a return on equity of 18.72%. The company had revenue of $11.13 billion during the quarter, compared to analyst estimates of $11.05 billion. During the same period in the prior year, the firm posted $2.58 EPS. The firm'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. On average, equities research analysts forecast that Salesforce Inc. will post 10.27 EPS for the current year.

Salesforce Announces Dividend

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%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CRM shares. TD Cowen reiterated a "buy" rating on shares of Salesforce in a research note on Friday, June 12th. The Goldman Sachs Group started coverage on shares of Salesforce in a research report on Thursday, June 18th. They set a "neutral" rating for the company. HC Wainwright cut shares of Salesforce to a "negative" rating in a report on Thursday, June 18th. UBS Group increased their price target on shares of Salesforce from $185.00 to $210.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 12th. Finally, Royal Bank Of Canada cut shares of Salesforce from a "sector perform" rating to a "sector perform" rating in a research note on Wednesday, July 1st. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, eighteen have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Salesforce presently has a consensus rating of "Moderate Buy" and a consensus target price of $249.49.

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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