Perigon Wealth Management LLC Acquires Shares of 36,566 Salesforce Inc. $CRM

Key Points

• Perigon Wealth Management acquired 36,566 Salesforce shares during the second quarter, valued at approximately $5.7 million. Institutional investors collectively own 80.43% of Salesforce’s outstanding stock.
• Analyst sentiment remains positive, with Salesforce carrying a “Moderate Buy” consensus rating and an average price target of $249.05, supported by multiple Buy and Strong Buy recommendations.
• Salesforce exceeded quarterly expectations, reporting $3.88 in EPS and $11.13 billion in revenue, with revenue up 13.3% year over year. The company also declared a quarterly dividend of $0.44 per share, equivalent to a 0.9% annual yield.

Perigon Wealth Management LLC bought a new position in Salesforce Inc. (NYSE:CRM - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 36,566 shares of the CRM provider's stock, valued at approximately $5,728,000.

Several other institutional investors also recently bought and sold shares of CRM. Fred Alger Management LLC boosted its position in Salesforce by 0.3% in the 3rd quarter. Fred Alger Management LLC now owns 14,943 shares of the CRM provider's stock worth $3,548,000 after purchasing an additional 45 shares in the last quarter. Richards Merrill & Peterson Inc. boosted its holdings in Salesforce by 1.1% during the fourth quarter. Richards Merrill & Peterson Inc. now owns 4,239 shares of the CRM provider's stock worth $1,123,000 after buying an additional 46 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC grew its position in Salesforce by 6.9% during the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 745 shares of the CRM provider's stock valued at $197,000 after buying an additional 48 shares during the period. Synergy Financial Group LTD grew its position in Salesforce by 2.4% during the third quarter. Synergy Financial Group LTD now owns 2,035 shares of the CRM provider's stock valued at $482,000 after buying an additional 48 shares during the period. Finally, Arbor Capital Management Inc. ADV increased its holdings in Salesforce by 1.6% in the fourth quarter. Arbor Capital Management Inc. ADV now owns 3,321 shares of the CRM provider's stock valued at $884,000 after buying an additional 51 shares in the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CRM has been the subject of a number of analyst reports. HSBC upped their price objective on shares of Salesforce from $350.00 to $356.00 and gave the stock a "buy" rating in a research report on Friday, May 29th. CLSA started coverage on Salesforce in a research report on Monday, July 20th. They set a "hold" rating and a $165.00 price target on the stock. Wedbush initiated coverage on Salesforce in a research report on Wednesday, July 1st. They issued an "outperform" rating for the company. Citizens Jmp reaffirmed a "market outperform" rating and set a $315.00 target price on shares of Salesforce in a research note on Thursday, May 28th. Finally, Raymond James Financial reiterated a "strong-buy" rating on shares of Salesforce in a research report on Tuesday, July 21st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, seventeen have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $249.05.

Salesforce Stock Performance

NYSE CRM opened at $191.20 on Tuesday. 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 stock's 50 day simple moving average is $171.58 and its 200-day simple moving average is $181.69. The company has a market cap of $156.59 billion, a PE ratio of 22.13, a price-to-earnings-growth ratio of 1.06 and a beta of 1.16. 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 issued 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. Salesforce had a return on equity of 18.72% and a net margin of 18.73%.The firm had revenue of $11.13 billion during the quarter, compared to analysts' expectations of $11.05 billion. During the same period in the previous year, the business earned $2.58 earnings per share. The firm's revenue for the quarter 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, equities research analysts anticipate that Salesforce Inc. will post 10.27 EPS for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Thursday, June 11th were paid a $0.44 dividend. 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 (DPR) is currently 20.37%.

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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