MGO One Seven LLC boosted its stake in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 56.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,186 shares of the CRM provider's stock after buying an additional 13,476 shares during the quarter. MGO One Seven LLC's holdings in Salesforce were worth $9,851,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Rockland Trust Co. lifted its stake in shares of Salesforce by 1,145.6% during the 3rd quarter. Rockland Trust Co. now owns 13,066 shares of the CRM provider's stock worth $3,097,000 after purchasing an additional 12,017 shares during the last quarter. Alps Advisors Inc. grew its stake in Salesforce by 98.3% in the third quarter. Alps Advisors Inc. now owns 21,455 shares of the CRM provider's stock valued at $5,085,000 after purchasing an additional 10,633 shares during the last quarter. Midwest Trust Co grew its stake in Salesforce by 2.3% in the third quarter. Midwest Trust Co now owns 187,071 shares of the CRM provider's stock valued at $44,336,000 after purchasing an additional 4,233 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in Salesforce by 15.1% in the third quarter. Jones Financial Companies Lllp now owns 467,551 shares of the CRM provider's stock worth $113,420,000 after purchasing an additional 61,270 shares in the last quarter. Finally, AGF Management Ltd. raised its holdings in Salesforce by 42.2% in the third quarter. AGF Management Ltd. now owns 281,054 shares of the CRM provider's stock worth $66,610,000 after purchasing an additional 83,403 shares in the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.
Salesforce Stock Performance
CRM opened at $186.27 on Friday. The company has a market cap of $152.41 billion, a P/E ratio of 23.85, a price-to-earnings-growth ratio of 1.26 and a beta of 1.14. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.18. The firm's 50-day moving average price is $186.78 and its 200-day moving average price is $218.91. Salesforce Inc. has a 52-week low of $163.52 and a 52-week high of $296.05.
Salesforce (NYSE:CRM - Get Free Report) last released its earnings results on Wednesday, February 25th. The CRM provider reported $3.81 EPS for the quarter, topping analysts' consensus estimates of $3.05 by $0.76. Salesforce had a net margin of 17.96% and a return on equity of 15.38%. The company had revenue of $11.20 billion during the quarter, compared to analysts' expectations of $11.18 billion. During the same period last year, the business earned $2.78 EPS. Salesforce's revenue for the quarter was up 12.1% on a year-over-year basis. Salesforce has set its FY 2027 guidance at 13.110-13.190 EPS and its Q1 2027 guidance at 3.110-3.130 EPS. As a group, equities analysts anticipate that Salesforce Inc. will post 9.71 EPS for the current fiscal year.
Salesforce announced that its board has authorized a share buyback program on Monday, March 16th that allows the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization allows the CRM provider to reacquire up to 14.1% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board of directors believes its shares are undervalued.
Salesforce Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, April 23rd. Shareholders of record on Thursday, April 9th were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Thursday, April 9th. This represents a $1.76 dividend on an annualized basis and a yield of 0.9%. This is an increase from Salesforce's previous quarterly dividend of $0.42. Salesforce's payout ratio is presently 22.54%.
Trending Headlines about Salesforce
Here are the key news stories impacting Salesforce this week:
Insider Activity
In other Salesforce news, Director Laura Alber purchased 2,571 shares of the business's stock in a transaction that occurred on Thursday, March 19th. The shares were bought at an average price of $194.58 per share, for a total transaction of $500,265.18. Following the acquisition, the director owned 9,530 shares in the company, valued at $1,854,347.40. This represents a 36.94% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director David Blair Kirk purchased 2,570 shares of Salesforce stock in a transaction on Wednesday, March 18th. The shares were acquired at an average cost of $194.62 per share, with a total value of $500,173.40. Following the completion of the transaction, the director directly owned 13,689 shares in the company, valued at $2,664,153.18. The trade was a 23.11% increase in their position. The SEC filing for this purchase provides additional information. 3.00% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
CRM has been the topic of a number of recent analyst reports. KeyCorp lowered their price target on shares of Salesforce from $400.00 to $300.00 and set an "overweight" rating on the stock in a report on Tuesday, February 24th. Jefferies Financial Group reduced their price objective on shares of Salesforce from $375.00 to $250.00 and set a "buy" rating for the company in a research note on Monday, February 23rd. The Goldman Sachs Group reissued a "buy" rating and set a $281.00 target price on shares of Salesforce in a research report on Thursday, February 26th. JPMorgan Chase & Co. lowered their target price on shares of Salesforce from $365.00 to $320.00 and set an "overweight" rating for the company in a research note on Thursday, February 26th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $375.00 price target on shares of Salesforce in a report on Tuesday, February 24th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $279.18.
Check Out Our Latest Stock Analysis on CRM
Salesforce Profile
(
Free Report)
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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