Principle Wealth Partners LLC Makes New $1.07 Million Investment in Salesforce Inc. $CRM

Principle Wealth Partners LLC acquired a new stake in Salesforce Inc. (NYSE:CRM) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 6,808 shares of the CRM provider’s stock, valued at approximately $1,067,000.

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

Salesforce Trading Down 2.6%

NYSE CRM opened at $191.20 on Tuesday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.79 and a current ratio of 0.79. Salesforce Inc. has a one year low of $146.32 and a one year high of $269.11. The company has a 50-day simple moving average of $171.58 and a 200-day simple moving average of $181.69. The firm 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.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, May 27th. The CRM provider reported $3.88 earnings per share (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 firm had revenue of $11.13 billion for the quarter, compared to analysts’ expectations of $11.05 billion. During the same quarter last year, the company posted $2.58 earnings per share. Salesforce’s revenue 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, equities analysts forecast that Salesforce Inc. will post 10.27 earnings per share for the current year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Thursday, June 11th were issued a $0.44 dividend. The ex-dividend date of this dividend was Thursday, June 11th. This represents a $1.76 annualized dividend and a dividend yield of 0.9%. Salesforce’s dividend payout ratio (DPR) is 20.37%.

Analyst Ratings Changes

A number of research firms have recently issued reports on CRM. Royal Bank Of Canada lowered shares of Salesforce from a “sector perform” rating to a “sector perform” rating in a research note on Wednesday, July 1st. Canaccord Genuity Group reaffirmed a “buy” rating and set a $225.00 price target on shares of Salesforce in a research note on Tuesday, June 16th. Roth Capital restated a “buy” rating and set a $325.00 price objective on shares of Salesforce in a report on Thursday, May 28th. TD Cowen restated a “buy” rating on shares of Salesforce in a research note on Friday, June 12th. Finally, HC Wainwright downgraded Salesforce to a “negative” rating in a report on Thursday, June 18th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, seventeen have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus target price of $249.05.

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.