55,576 Shares in Salesforce Inc. $CRM Bought by UNIVEST FINANCIAL Corp

UNIVEST FINANCIAL Corp bought a new position in shares of Salesforce Inc. (NYSE:CRM) during the 2nd quarter, Holdings Channel.com reports. The firm bought 55,576 shares of the CRM provider’s stock, valued at approximately $8,707,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Commonwealth Retirement Investments LLC bought a new position in shares of Salesforce during the fourth quarter worth about $25,000. Gilpin Wealth Management LLC acquired a new stake in Salesforce during the 4th quarter valued at approximately $26,000. Persistent Asset Partners Ltd bought a new position in Salesforce during the 2nd quarter worth approximately $27,000. Costello Asset Management INC raised its holdings in Salesforce by 410.3% during the 1st quarter. Costello Asset Management INC now owns 148 shares of the CRM provider’s stock worth $28,000 after purchasing an additional 119 shares during the last quarter. Finally, Birchwood Financial Partners Inc. acquired a new position in shares of Salesforce in the 4th quarter worth approximately $28,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Trading Down 2.6%

CRM opened at $191.20 on Tuesday. Salesforce Inc. has a 1-year low of $146.32 and a 1-year high of $269.11. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.15. The company has a market cap of $156.59 billion, a P/E ratio of 22.13, a price-to-earnings-growth ratio of 1.06 and a beta of 1.16. The company has a fifty day moving average price of $171.58 and a two-hundred day moving average price of $181.69.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, May 27th. The CRM provider reported $3.88 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $11.05 billion. During the same quarter in the prior year, the business earned $2.58 earnings per share. 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. Analysts predict that Salesforce Inc. will post 10.27 EPS for the current fiscal year.

Salesforce Dividend Announcement

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

Analysts Set New Price Targets

CRM has been the topic of a number of analyst reports. Sanford C. Bernstein reduced their price objective on shares of Salesforce from $194.00 to $173.00 and set an “underperform” rating on the stock in a research note on Thursday, May 28th. Erste Group Bank raised Salesforce from a “hold” rating to a “buy” rating in a research note on Wednesday, August 5th. Needham & Company LLC restated a “buy” rating on shares of Salesforce in a research report on Tuesday, June 16th. BMO Capital Markets decreased their target price on Salesforce from $225.00 to $215.00 and set an “outperform” rating for the company in a research note on Thursday, May 28th. Finally, Monness Crespi & Hardt lifted their target price on Salesforce from $200.00 to $222.00 and gave the stock a “buy” rating in a report on Thursday, August 13th. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, seventeen have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and an average target price of $249.05.

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.