Deane Retirement Strategies Inc. Increases Stake in Salesforce Inc. $CRM

Key Points

• Deane Retirement Strategies increased its Salesforce stake by 17.4% in the second quarter, reaching 30,620 shares valued at approximately $4.8 million. Institutional investors collectively own 80.43% of Salesforce.
• Salesforce reported quarterly EPS of $3.88, beating estimates of $3.13, while revenue rose 13.3% year over year to $11.13 billion. The company also pays a quarterly dividend of $0.44 per share, yielding about 0.9% annually.
• Analysts maintain a generally positive outlook, with Salesforce carrying a “Moderate Buy” consensus rating and an average price target of $249.51, compared with a recent share price of $192.48.

Deane Retirement Strategies Inc. grew its holdings in Salesforce Inc. (NYSE:CRM - Free Report) by 17.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 30,620 shares of the CRM provider's stock after acquiring an additional 4,545 shares during the period. Salesforce accounts for 2.0% of Deane Retirement Strategies Inc.'s portfolio, making the stock its 21st largest holding. Deane Retirement Strategies Inc.'s holdings in Salesforce were worth $4,798,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. J. Stern & Co. LLP increased its stake in shares of Salesforce by 24,056.7% in the 4th quarter. J. Stern & Co. LLP now owns 47,385,511 shares of the CRM provider's stock worth $12,552,896,000 after purchasing an additional 47,189,352 shares in the last quarter. Norges Bank purchased a new position in Salesforce during the fourth quarter valued at $3,182,951,000. Arrowstreet Capital Limited Partnership lifted its position in Salesforce by 130.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 12,659,217 shares of the CRM provider's stock valued at $2,363,096,000 after purchasing an additional 7,160,302 shares in the last quarter. Cardano Risk Management B.V. grew its holdings in Salesforce by 924.7% during the fourth quarter. Cardano Risk Management B.V. now owns 3,883,610 shares of the CRM provider's stock valued at $1,028,807,000 after purchasing an additional 3,504,605 shares during the period. Finally, Capital International Investors increased its position in Salesforce by 13.3% in the fourth quarter. Capital International Investors now owns 22,721,010 shares of the CRM provider's stock worth $6,019,199,000 after buying an additional 2,669,891 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company's stock.

Salesforce Trading Down 0.1%

Shares of CRM opened at $192.48 on Monday. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.79 and a quick ratio of 0.79. The firm has a market cap of $157.64 billion, a P/E ratio of 22.28, a price-to-earnings-growth ratio of 1.04 and a beta of 1.16. The company has a 50 day simple moving average of $171.23 and a two-hundred day simple moving average of $182.95. Salesforce Inc. has a 1 year low of $146.32 and a 1 year high of $269.11.

Salesforce (NYSE:CRM - Get Free Report) last announced its quarterly earnings results on Wednesday, May 27th. The CRM provider reported $3.88 EPS for the quarter, topping the consensus estimate of $3.13 by $0.75. The business had revenue of $11.13 billion for the quarter, compared to analysts' expectations of $11.05 billion. Salesforce had a net margin of 18.73% and a return on equity of 18.72%. The business's quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $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, equities analysts expect that Salesforce Inc. will post 10.27 earnings per share for the current fiscal 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 issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Thursday, June 11th. Salesforce's dividend payout ratio is 20.37%.

Wall Street Analyst Weigh In

CRM has been the topic of several recent research reports. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $250.00 price objective on shares of Salesforce in a research note on Thursday, May 28th. Evercore reissued an "outperform" rating on shares of Salesforce in a report on Tuesday, July 14th. KeyCorp cut shares of Salesforce from an "overweight" rating to a "sector weight" rating in a research note on Wednesday, July 8th. BTIG Research reaffirmed a "buy" rating and set a $255.00 price target on shares of Salesforce in a report on Tuesday, May 26th. Finally, Needham & Company LLC reiterated a "buy" rating on shares of Salesforce in a research report on Tuesday, June 16th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, sixteen have assigned a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, Salesforce currently has an average rating of "Moderate Buy" and a consensus price target of $249.51.

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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