Zhang Financial LLC Boosts Stock Holdings in Salesforce Inc. $CRM

Key Points

• Zhang Financial LLC increased its Salesforce holdings by 31.4% in the first quarter, buying 3,215 additional shares to bring its total to 13,449 shares worth about $2.51 million.
• Salesforce reported strong quarterly results, with EPS of $3.88 beating estimates and revenue of $11.13 billion topping expectations, while revenue rose 13.3% year over year.
• Despite the positive earnings, Salesforce stock was down 0.9% in Friday trading, and Wall Street remains broadly constructive with a Moderate Buy consensus and an average price target of $254.42.

Zhang Financial LLC grew its holdings in Salesforce Inc. (NYSE:CRM - Free Report) by 31.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,449 shares of the CRM provider's stock after purchasing an additional 3,215 shares during the period. Zhang Financial LLC's holdings in Salesforce were worth $2,510,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC raised its stake in shares of Salesforce by 13.7% during the 4th quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider's stock valued at $8,582,000 after purchasing an additional 3,102 shares during the period. Revolve Wealth Partners LLC boosted its stake in Salesforce by 12.6% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,827 shares of the CRM provider's stock worth $611,000 after purchasing an additional 205 shares during the period. Bison Wealth LLC grew its holdings in Salesforce by 9.0% during the 4th 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 in the last quarter. Sivia Capital Partners LLC grew its holdings in Salesforce by 3.7% during the 2nd 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 in the last quarter. Finally, United Bank increased its position in shares of Salesforce by 5.2% during the second quarter. United Bank now owns 10,198 shares of the CRM provider's stock valued at $2,781,000 after buying an additional 500 shares during the period. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Trading Down 0.9%

Shares of CRM opened at $171.20 on Friday. The firm's 50 day simple moving average is $170.64 and its 200 day simple moving average is $191.20. The company has a market capitalization of $140.21 billion, a P/E ratio of 19.82, a P/E/G ratio of 0.93 and a beta of 1.18. 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 Inc. has a 1-year low of $146.32 and a 1-year high of $274.00.

Salesforce (NYSE:CRM - Get Free Report) last released its quarterly earnings results on Wednesday, May 27th. The CRM provider reported $3.88 EPS for the quarter, topping analysts' consensus estimates of $3.13 by $0.75. Salesforce had a net margin of 18.73% and a return on equity of 18.72%. The business had revenue of $11.13 billion during the quarter, compared to analysts' expectations of $11.05 billion. During the same quarter in the previous year, the company earned $2.58 EPS. The business's quarterly 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. Sell-side analysts forecast that Salesforce Inc. will post 10.29 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Thursday, June 11th were given a $0.44 dividend. The ex-dividend date was Thursday, June 11th. This represents a $1.76 annualized dividend and a yield of 1.0%. Salesforce's payout ratio is 20.37%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Canaccord Genuity Group reissued a "buy" rating and issued a $225.00 price target on shares of Salesforce in a report on Tuesday, June 16th. Bank of America started coverage on shares of Salesforce in a report on Monday, May 18th. They set an "underperform" rating and a $160.00 target price on the stock. Jefferies Financial Group raised shares of Salesforce from a "buy" rating to a "buy" rating in a report on Wednesday, July 1st. Weiss Ratings raised shares of Salesforce from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, July 7th. Finally, KeyCorp downgraded Salesforce from an "overweight" rating to a "sector weight" rating in a research report on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, fourteen have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target 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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