Simplicity Wealth LLC Takes Position in Salesforce Inc. $CRM

Simplicity Wealth LLC acquired a new stake in shares of Salesforce Inc. (NYSE:CRM - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,504 shares of the CRM provider's stock, valued at approximately $549,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Temasek Holdings Private Ltd increased its holdings in Salesforce by 3.7% during the fourth quarter. Temasek Holdings Private Ltd now owns 683,790 shares of the CRM provider's stock valued at $181,143,000 after buying an additional 24,332 shares during the last quarter. SFE Investment Counsel boosted its stake in shares of Salesforce by 82.7% during the 4th 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 during the last quarter. Fluent Financial LLC purchased a new position in shares of Salesforce during the 2nd quarter worth $2,265,000. Secured Retirement Advisors LLC bought a new stake in shares of Salesforce during the 1st quarter valued at $1,004,000. Finally, Janus Henderson Group PLC grew its position in shares of Salesforce by 2.5% during the 1st quarter. Janus Henderson Group PLC now owns 127,739 shares of the CRM provider's stock valued at $23,846,000 after acquiring an additional 3,125 shares during the period. Hedge funds and other institutional investors own 80.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CRM. Macquarie Infrastructure decreased their target price on Salesforce from $200.00 to $190.00 and set a "neutral" rating on the stock in a report on Thursday, May 28th. Evercore reissued an "outperform" rating on shares of Salesforce in a report on Tuesday, July 14th. Royal Bank Of Canada cut Salesforce from a "sector perform" rating to a "sector perform" rating in a research report on Wednesday, July 1st. Guggenheim raised Salesforce from a "neutral" rating to a "buy" rating and set a $228.00 price objective on the stock in a research note on Wednesday, July 1st. Finally, Scotiabank cut Salesforce from a "sector outperform" rating to a "sector perform" rating in a research report on Thursday, June 18th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, seventeen have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $249.05.

Salesforce Stock Down 2.6%

CRM opened at $191.20 on Tuesday. The company has a market capitalization 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. The firm has a 50-day simple moving average of $171.58 and a two-hundred day simple moving average of $181.69. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.15. Salesforce Inc. has a 52 week low of $146.32 and a 52 week high of $269.11.

Salesforce (NYSE:CRM - Get Free Report) last issued its earnings results on Wednesday, May 27th. The CRM provider reported $3.88 earnings per share (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 for the quarter, compared to analysts' expectations of $11.05 billion. During the same period in the previous year, the firm posted $2.58 earnings per share. The business's revenue was up 13.3% compared to the same quarter last year. Salesforce has set its FY 2027 guidance at 14.060-14.120 EPS and its Q2 2027 guidance at 3.250-3.270 EPS. Analysts forecast that Salesforce Inc. will post 10.27 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Thursday, June 11th were issued a dividend of $0.44 per share. 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 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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