Goodman Financial Corp Has $4.64 Million Stock Holdings in Salesforce Inc. $CRM

Key Points

• Goodman Financial Corp cut its Salesforce stake by 53.5% in the first quarter, selling 28,543 shares and ending with 24,855 shares valued at about $4.64 million.
• Despite the selloff by one fund, institutional investors still own 80.43% of Salesforce, and several other hedge funds recently increased their positions.
• Wall Street sentiment remains positive overall: Salesforce has a “Moderate Buy” consensus rating with a $254.42 target price, while the stock recently traded around $172.60 after reporting earnings that beat estimates.

Goodman Financial Corp decreased its stake in Salesforce Inc. (NYSE:CRM - Free Report) by 53.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,855 shares of the CRM provider's stock after selling 28,543 shares during the period. Goodman Financial Corp's holdings in Salesforce were worth $4,640,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Brighton Jones LLC raised its position in Salesforce by 13.7% in the fourth quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider's stock valued at $8,582,000 after purchasing an additional 3,102 shares during the last quarter. Revolve Wealth Partners LLC grew its holdings in shares of Salesforce by 12.6% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,827 shares of the CRM provider's stock worth $611,000 after purchasing an additional 205 shares during the last quarter. Bison Wealth LLC increased its stake in shares of Salesforce by 9.0% in the fourth quarter. Bison Wealth LLC now owns 2,234 shares of the CRM provider's stock valued at $747,000 after buying an additional 184 shares during the period. Sivia Capital Partners LLC increased its stake in shares of Salesforce by 3.7% in the second quarter. Sivia Capital Partners LLC now owns 2,958 shares of the CRM provider's stock valued at $807,000 after buying an additional 106 shares during the period. Finally, United Bank raised its holdings in Salesforce by 5.2% in the 2nd quarter. United Bank now owns 10,198 shares of the CRM provider's stock valued at $2,781,000 after buying an additional 500 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CRM shares. Needham & Company LLC reiterated a "buy" rating on shares of Salesforce in a research report on Tuesday, June 16th. Susquehanna began coverage on shares of Salesforce in a research note on Wednesday, July 1st. They set a "neutral" rating for the company. The Goldman Sachs Group started coverage on shares of Salesforce in a report on Thursday, June 18th. They set a "neutral" rating on the stock. Monness Crespi & Hardt raised shares of Salesforce from a "neutral" rating to a "buy" rating and set a $200.00 price objective on the stock in a research note on Thursday, June 18th. Finally, Guggenheim upgraded Salesforce from a "neutral" rating to a "buy" rating and set a $228.00 price objective for the company in a report on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, fourteen have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $254.42.

Salesforce Stock Up 3.4%

Salesforce stock opened at $172.60 on Friday. The firm has a market cap of $141.36 billion, a price-to-earnings ratio of 19.98, a PEG ratio of 0.90 and a beta of 1.18. Salesforce Inc. has a 52-week low of $146.32 and a 52-week high of $274.00. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.79 and a current ratio of 0.79. The firm has a 50 day moving average price of $170.85 and a two-hundred day moving average price of $191.34.

Salesforce (NYSE:CRM - Get Free Report) last posted its quarterly earnings data on Wednesday, May 27th. The CRM provider reported $3.88 EPS for the quarter, beating 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 company had revenue of $11.13 billion for 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 company's quarterly 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 10.29 EPS for the current year.

Salesforce Announces Dividend

The company also recently declared 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 1.0%. Salesforce's dividend payout ratio is 20.37%.

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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