Mattern Capital Management LLC Has $2.04 Million Stock Holdings in Salesforce Inc. $CRM

Key Points

• Mattern Capital Management increased its Salesforce stake by 119.4% in the first quarter, ending with 10,927 shares valued at about $2.04 million.
• Salesforce reported strong quarterly results, posting EPS of $3.88 versus analyst expectations of $3.13 and revenue of $11.13 billion, with revenue up 13.3% year over year.
• The company also announced a $25 billion share repurchase program and pays a quarterly dividend of $0.44, while analysts currently rate the stock a Moderate Buy with a consensus price target of $254.42.

Mattern Capital Management LLC grew its holdings in Salesforce Inc. (NYSE:CRM - Free Report) by 119.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 10,927 shares of the CRM provider's stock after purchasing an additional 5,947 shares during the period. Mattern Capital Management LLC's holdings in Salesforce were worth $2,040,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Commonwealth Retirement Investments LLC acquired a new position in Salesforce during the fourth quarter worth about $25,000. Board of the Pension Protection Fund acquired a new position in Salesforce in the 4th quarter worth about $26,000. Key Capital Management INC bought a new position in Salesforce in the fourth quarter valued at about $26,000. Gilpin Wealth Management LLC bought a new position in Salesforce in the 4th quarter valued at approximately $26,000. Finally, Legacy Bridge LLC acquired a new position in Salesforce during the 4th quarter worth about $27,000. Institutional investors and hedge funds own 80.43% of the company's stock.

Salesforce Stock Up 4.9%

Shares of NYSE:CRM opened at $171.39 on Tuesday. The firm has a market capitalization of $140.37 billion, a PE ratio of 19.84, a price-to-earnings-growth ratio of 0.88 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 firm has a fifty day moving average of $171.79 and a 200 day moving average of $193.37. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.79 and a current ratio of 0.79.

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 analysts' consensus estimates of $3.13 by $0.75. Salesforce had a return on equity of 18.72% and a net margin of 18.73%.The business had revenue of $11.13 billion for the quarter, compared to analysts' expectations of $11.05 billion. During the same period in the previous year, the firm earned $2.58 EPS. The business'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. As a group, research analysts anticipate that Salesforce Inc. will post 10.29 EPS for the current fiscal year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Thursday, June 11th were paid a $0.44 dividend. The ex-dividend date was Thursday, June 11th. This represents a $1.76 annualized dividend and a dividend yield of 1.0%. Salesforce's dividend payout ratio is presently 20.37%.

Salesforce announced that its Board of Directors has initiated a stock repurchase plan on Monday, March 16th that allows the company to buyback $25.00 billion in shares. This buyback authorization allows the CRM provider to purchase up to 14.1% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's management believes its stock is undervalued.

Analyst Ratings Changes

CRM has been the subject of several research analyst reports. Wedbush started coverage on shares of Salesforce in a research note on Wednesday, July 1st. They issued an "outperform" rating for the company. B. Riley Financial lifted their price objective on shares of Salesforce from $205.00 to $240.00 and gave the company a "buy" rating in a report on Thursday, May 28th. Bank of America initiated coverage on Salesforce in a research note on Monday, May 18th. They set an "underperform" rating and a $160.00 price target for the company. Wall Street Zen raised shares of Salesforce from a "hold" rating to a "buy" rating in a research report on Saturday, June 6th. Finally, Monness Crespi & Hardt upgraded shares of Salesforce from a "neutral" rating to a "buy" rating and set a $200.00 price target on the stock in a report on Thursday, June 18th. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, fourteen have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Salesforce has an average rating of "Moderate Buy" and a consensus price target of $254.42.

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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