W.G. Shaheen & Associates DBA Whitney & Co Raises Stock Position in Salesforce Inc. $CRM

Key Points

• W.G. Shaheen & Associates DBA Whitney & Co increased its Salesforce stake by 7.2% in Q1, adding 3,676 shares to bring its total holding to 54,469 shares worth about $10.2 million.
• Salesforce reported strong quarterly results, with EPS of $3.88 beating estimates and revenue of $11.13 billion slightly topping expectations, while revenue rose 13.3% year over year.
• The stock was up 3.4% and analysts remain broadly constructive, with a consensus rating of “Moderate Buy” and an average target price of $254.42, despite some recent mixed rating changes.

W.G. Shaheen & Associates DBA Whitney & Co lifted its position in Salesforce Inc. (NYSE:CRM - Free Report) by 7.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 54,469 shares of the CRM provider's stock after purchasing an additional 3,676 shares during the period. W.G. Shaheen & Associates DBA Whitney & Co's holdings in Salesforce were worth $10,168,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC lifted its holdings in shares of Salesforce by 13.7% in the 4th quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider's stock worth $8,582,000 after buying an additional 3,102 shares during the period. Revolve Wealth Partners LLC grew its position in shares of Salesforce by 12.6% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,827 shares of the CRM provider's stock worth $611,000 after buying an additional 205 shares in the last quarter. Bison Wealth LLC increased its stake in shares of Salesforce by 9.0% during the fourth quarter. Bison Wealth LLC now owns 2,234 shares of the CRM provider's stock valued at $747,000 after buying an additional 184 shares during the period. Sivia Capital Partners LLC increased its stake in shares of Salesforce by 3.7% during the second quarter. Sivia Capital Partners LLC now owns 2,958 shares of the CRM provider's stock valued at $807,000 after buying an additional 106 shares during the period. Finally, United Bank raised its holdings in shares of Salesforce by 5.2% in the second quarter. United Bank now owns 10,198 shares of the CRM provider's stock valued at $2,781,000 after acquiring an additional 500 shares in the last quarter. Institutional investors own 80.43% of the company's stock.

Salesforce Stock Up 3.4%

Shares of Salesforce stock opened at $172.60 on Friday. The firm's 50 day moving average price is $170.85 and its 200-day moving average price is $191.34. 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 $274.00. The company has a market cap of $141.36 billion, a P/E ratio of 19.98, a PEG ratio of 0.90 and a beta of 1.18.

Salesforce (NYSE:CRM - Get Free Report) last posted its quarterly earnings data on Wednesday, May 27th. The CRM provider reported $3.88 EPS for the quarter, topping the consensus estimate of $3.13 by $0.75. The firm had revenue of $11.13 billion during the quarter, compared to analyst estimates of $11.05 billion. Salesforce had a net margin of 18.73% and a return on equity of 18.72%. Salesforce's revenue was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.58 EPS. 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, sell-side analysts predict that Salesforce Inc. will post 10.29 EPS for the current fiscal year.

Salesforce Announces Dividend

The firm 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 1.0%. The ex-dividend date was Thursday, June 11th. Salesforce's dividend payout ratio is currently 20.37%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. HC Wainwright lowered shares of Salesforce to a "negative" rating in a research note on Thursday, June 18th. Wells Fargo & Company cut their target price on shares of Salesforce from $210.00 to $200.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 28th. BTIG Research restated a "buy" rating and issued a $255.00 price target on shares of Salesforce in a report on Tuesday, May 26th. UBS Group assumed coverage on shares of Salesforce in a research report on Wednesday, July 1st. They issued an "overweight" rating for the company. Finally, Barclays upgraded shares of Salesforce from an "overweight" rating to an "overweight" rating in a research note on Thursday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, fourteen have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $254.42.

Salesforce 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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