Salesforce Inc. $CRM Shares Acquired by OLD National Bancorp IN

OLD National Bancorp IN lifted its position in shares of Salesforce Inc. (NYSE:CRM) by 4.1% in the 1st quarter, Holdings Channel.com reports. The firm owned 87,279 shares of the CRM provider’s stock after purchasing an additional 3,414 shares during the period. OLD National Bancorp IN’s holdings in Salesforce were worth $16,292,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of CRM. Vanguard Group Inc. boosted its position in shares of Salesforce by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 89,843,166 shares of the CRM provider’s stock worth $23,800,353,000 after acquiring an additional 270,913 shares in the last quarter. State Street Corp raised its position in shares of Salesforce by 1.3% during the 4th quarter. State Street Corp now owns 50,080,230 shares of the CRM provider’s stock worth $13,286,909,000 after acquiring an additional 659,573 shares in the last quarter. J. Stern & Co. LLP raised its position in shares of Salesforce by 24,056.7% during the 4th quarter. J. Stern & Co. LLP now owns 47,385,511 shares of the CRM provider’s stock worth $12,552,896,000 after acquiring an additional 47,189,352 shares in the last quarter. Capital International Investors lifted its stake in Salesforce by 13.3% during the fourth quarter. Capital International Investors now owns 22,721,010 shares of the CRM provider’s stock worth $6,019,199,000 after purchasing an additional 2,669,891 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Salesforce by 3.8% in the fourth quarter. Geode Capital Management LLC now owns 21,782,556 shares of the CRM provider’s stock valued at $5,751,073,000 after purchasing an additional 791,345 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Trading Down 1.5%

CRM opened at $150.39 on Friday. The firm has a market cap of $123.17 billion, a price-to-earnings ratio of 17.41, a price-to-earnings-growth ratio of 0.95 and a beta of 1.16. Salesforce Inc. has a 52 week low of $146.32 and a 52 week high of $276.80. The business’s 50 day moving average is $175.95 and its two-hundred day moving average is $201.50. 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 (NYSE:CRM) last issued its quarterly earnings data on Wednesday, May 27th. The CRM provider reported $3.88 earnings per share for the quarter, beating analysts’ consensus estimates of $3.13 by $0.75. The company had revenue of $11.13 billion during the quarter, compared to analysts’ expectations of $11.05 billion. Salesforce had a return on equity of 18.72% and a net margin of 18.73%.The firm’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.58 earnings per share. 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, research analysts predict that Salesforce Inc. will post 10.29 EPS for the current year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Thursday, June 11th will be given a $0.44 dividend. The ex-dividend date is Thursday, June 11th. This represents a $1.76 annualized dividend and a yield of 1.2%. Salesforce’s dividend payout ratio is 20.37%.

Salesforce declared that its Board of Directors has initiated a stock buyback program on Monday, March 16th that allows the company to buyback $25.00 billion in outstanding shares. This buyback authorization allows the CRM provider to repurchase up to 14.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

Several brokerages have commented on CRM. Jefferies Financial Group reiterated a “buy” rating on shares of Salesforce in a research note on Monday, June 15th. Piper Sandler downgraded shares of Salesforce from an “overweight” rating to a “neutral” rating in a research report on Thursday, May 28th. BMO Capital Markets lowered their target price on shares of Salesforce from $225.00 to $215.00 and set an “outperform” rating for the company in a report on Thursday, May 28th. Bank of America initiated coverage on shares of Salesforce in a research report on Monday, May 18th. They issued an “underperform” rating and a $160.00 target price on the stock. Finally, Northland Securities cut their price target on shares of Salesforce from $267.00 to $229.00 and set a “market perform” rating on the stock in a research note on Tuesday, March 10th. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, eleven have assigned a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $257.61.

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.