Meeder Advisory Services Inc. Invests $2.29 Million in Salesforce Inc. $CRM

Meeder Advisory Services Inc. bought a new position in shares of Salesforce Inc. (NYSE:CRM) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 14,641 shares of the CRM provider’s stock, valued at approximately $2,294,000.

Several other institutional investors also recently bought and sold shares of the stock. Commonwealth Retirement Investments LLC purchased a new position in Salesforce in the fourth quarter valued at $25,000. Gilpin Wealth Management LLC purchased a new stake in shares of Salesforce during the 4th quarter worth about $26,000. Persistent Asset Partners Ltd purchased a new stake in shares of Salesforce during the 2nd quarter worth about $27,000. Costello Asset Management INC grew its position in shares of Salesforce by 410.3% during the 1st quarter. Costello Asset Management INC now owns 148 shares of the CRM provider’s stock valued at $28,000 after acquiring an additional 119 shares during the period. Finally, Birchwood Financial Partners Inc. acquired a new stake in shares of Salesforce during the 4th quarter valued at about $28,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Trading Up 2.8%

Shares of Salesforce stock opened at $196.28 on Wednesday. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.15. Salesforce Inc. has a twelve month low of $146.32 and a twelve month high of $269.11. The firm has a market capitalization of $160.76 billion, a PE ratio of 22.72, a P/E/G ratio of 1.06 and a beta of 1.16. The firm’s 50-day moving average price is $172.00 and its 200 day moving average price is $181.47.

Salesforce (NYSE:CRM) 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 company had revenue of $11.13 billion during the quarter, compared to analyst estimates of $11.05 billion. Salesforce had a return on equity of 18.72% and a net margin of 18.73%.Salesforce’s quarterly revenue was up 13.3% on a year-over-year basis. During the same period in the previous year, the business earned $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 10.27 EPS for the current fiscal year.

Salesforce Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CRM. Morgan Stanley reaffirmed an “equal weight” rating and issued a $185.00 price target (down from $287.00) on shares of Salesforce in a report on Tuesday, July 21st. Monness Crespi & Hardt raised their price objective on Salesforce from $200.00 to $222.00 and gave the company a “buy” rating in a report on Thursday, August 13th. CLSA assumed coverage on Salesforce in a research report on Monday, July 20th. They issued a “hold” rating and a $165.00 price objective for the company. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Salesforce in a research note on Tuesday, July 21st. Finally, TD Cowen reiterated a “buy” rating on shares of Salesforce in a research report on Friday, June 12th. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, eighteen have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and a consensus target price of $249.49.

Salesforce Company 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.