First National Bank of Omaha Buys Shares of 76,617 Salesforce Inc. $CRM

Key Points

• First National Bank of Omaha bought 76,617 Salesforce shares during the second quarter, valued at approximately $12.06 million. Institutional investors collectively own 80.43% of Salesforce.
• Analyst sentiment remains positive but mixed: Salesforce has a consensus “Moderate Buy” rating and an average price target of $249.49, while Morgan Stanley lowered its target to $185 and JPMorgan initiated coverage with a $250 target.
• Salesforce reported quarterly earnings of $3.88 per share, exceeding expectations of $3.13, while revenue rose 13.3% year over year to $11.13 billion. The company also declared a quarterly dividend of $0.44 per share, representing a 0.9% annualized yield.

First National Bank of Omaha purchased a new position in shares of Salesforce Inc. (NYSE:CRM - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 76,617 shares of the CRM provider's stock, valued at approximately $12,060,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CRM. BlackRock Inc. purchased a new position in Salesforce during the 2nd quarter worth $11,396,844,000. J. Stern & Co. LLP raised its stake in Salesforce by 24,056.7% in the fourth quarter. J. Stern & Co. LLP now owns 47,385,511 shares of the CRM provider's stock valued at $12,552,896,000 after buying an additional 47,189,352 shares during the last quarter. Norges Bank purchased a new stake in Salesforce in the fourth quarter valued at about $3,182,951,000. Arrowstreet Capital Limited Partnership boosted its holdings in Salesforce by 130.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 12,659,217 shares of the CRM provider's stock worth $2,363,096,000 after acquiring an additional 7,160,302 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Salesforce during the second quarter worth about $844,928,000. Hedge funds and other institutional investors own 80.43% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Morgan Stanley restated an "equal weight" rating and set a $185.00 price objective (down from $287.00) on shares of Salesforce in a report on Tuesday, July 21st. JPMorgan Chase & Co. started coverage on shares of Salesforce in a research report on Thursday, August 13th. They set an "overweight" rating and a $250.00 target price on the stock. Jefferies Financial Group upgraded shares of Salesforce from a "buy" rating to a "buy" rating in a research note on Wednesday, July 1st. Scotiabank cut shares of Salesforce from a "sector outperform" rating to a "sector perform" rating in a report on Thursday, June 18th. Finally, Wolfe Research downgraded shares of Salesforce from an "outperform" rating to a "hold" rating in a research note on Wednesday, July 1st. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, eighteen have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $249.49.

Salesforce Trading Up 2.8%

NYSE CRM opened at $196.28 on Wednesday. Salesforce Inc. has a 1 year low of $146.32 and a 1 year high of $269.11. 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 company has a market capitalization of $160.76 billion, a PE ratio of 22.72, a P/E/G ratio of 1.06 and a beta of 1.16. The company has a fifty day moving average of $172.00 and a 200 day moving average of $181.47.

Salesforce (NYSE:CRM - Get Free Report) last announced its quarterly earnings results on Wednesday, May 27th. The CRM provider reported $3.88 earnings per share for the quarter, topping the consensus estimate of $3.13 by $0.75. The company had revenue of $11.13 billion for 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 for the quarter was up 13.3% compared to the same quarter last year. During the same period last year, the firm 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. Research analysts forecast that Salesforce Inc. will post 10.27 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Thursday, June 11th were issued 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 yield of 0.9%. Salesforce's payout ratio is presently 20.37%.

Salesforce 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source