Praxis Investment Management Inc. Lowers Stock Position in Salesforce Inc. $CRM

Key Points

• Praxis Investment Management cut its Salesforce stake by 12.8% in the first quarter, selling 3,251 shares and leaving it with 22,198 shares valued at about $4.14 million.
• Salesforce reported strong quarterly results, with EPS of $3.88 topping estimates and revenue of $11.13 billion rising 13.3% year over year. The company also issued FY2027 and Q2 2027 guidance.
• The board authorized a $25 billion share repurchase program, and Salesforce also paid a quarterly dividend of $0.44 per share, yielding about 1.1%.

Praxis Investment Management Inc. trimmed its stake in Salesforce Inc. (NYSE:CRM - Free Report) by 12.8% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 22,198 shares of the CRM provider's stock after selling 3,251 shares during the period. Praxis Investment Management Inc.'s holdings in Salesforce were worth $4,144,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in CRM. Temasek Holdings Private Ltd lifted its holdings in Salesforce by 3.7% during the 4th quarter. Temasek Holdings Private Ltd now owns 683,790 shares of the CRM provider's stock worth $181,143,000 after buying an additional 24,332 shares in the last quarter. SFE Investment Counsel grew its stake in shares of Salesforce by 82.7% in the fourth quarter. SFE Investment Counsel now owns 17,394 shares of the CRM provider's stock worth $4,608,000 after acquiring an additional 7,871 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of Salesforce by 8.9% in the third quarter. Van ECK Associates Corp now owns 1,299,513 shares of the CRM provider's stock worth $307,984,000 after acquiring an additional 106,107 shares in the last quarter. Secured Retirement Advisors LLC purchased a new stake in shares of Salesforce during the first quarter worth $1,004,000. Finally, Eminence Capital LP raised its stake in shares of Salesforce by 5.6% in the third quarter. Eminence Capital LP now owns 830,536 shares of the CRM provider's stock valued at $196,837,000 after acquiring an additional 43,888 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Stock Down 0.1%

Shares of NYSE CRM opened at $165.94 on Friday. The business has a 50-day moving average of $173.23 and a two-hundred day moving average of $197.71. The company has a market capitalization of $135.90 billion, a price-to-earnings ratio of 19.21, a price-to-earnings-growth ratio of 1.03 and a beta of 1.18. Salesforce Inc. has a 1 year low of $146.32 and a 1 year high of $276.80. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.79 and a quick ratio of 0.79.

Salesforce (NYSE:CRM - Get Free Report) last released 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 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 the consensus estimate of $11.05 billion. During the same quarter in the prior year, the business posted $2.58 EPS. The business'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. On average, analysts forecast that Salesforce Inc. will post 10.29 earnings per share for the current fiscal year.

Salesforce declared that its Board of Directors has initiated a stock repurchase plan on Monday, March 16th that authorizes the company to repurchase $25.00 billion in shares. This repurchase authorization authorizes the CRM provider to buy up to 14.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's management believes its stock is undervalued.

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 paid a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 1.1%. The ex-dividend date was Thursday, June 11th. Salesforce's dividend payout ratio is currently 20.37%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. DA Davidson lowered their target price on Salesforce from $200.00 to $175.00 and set a "neutral" rating for the company in a research note on Thursday, May 28th. Barclays raised Salesforce from an "overweight" rating to an "overweight" rating in a research report on Thursday, June 18th. B. Riley Financial lifted their price objective on Salesforce from $205.00 to $240.00 and gave the company a "buy" rating in a research note on Thursday, May 28th. Roth Mkm restated a "buy" rating and set a $325.00 target price on shares of Salesforce in a research note on Thursday, May 28th. Finally, The Goldman Sachs Group began coverage on shares of Salesforce in a report on Thursday, June 18th. They issued a "neutral" rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, twelve have assigned a Hold rating and four have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price 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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