Salesforce Inc. $CRM Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its stake in shares of Salesforce Inc. (NYSE:CRM) by 3.2% in the first quarter, HoldingsChannel reports. The fund owned 5,988,247 shares of the CRM provider’s stock after selling 198,621 shares during the quarter. Bank of New York Mellon Corp’s holdings in Salesforce were worth $1,117,826,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of CRM. Temasek Holdings Private Ltd increased its stake in Salesforce by 3.7% during the fourth quarter. Temasek Holdings Private Ltd now owns 683,790 shares of the CRM provider’s stock valued at $181,143,000 after purchasing an additional 24,332 shares during the last quarter. SFE Investment Counsel grew its position in shares of Salesforce by 82.7% during the 4th quarter. SFE Investment Counsel now owns 17,394 shares of the CRM provider’s stock valued at $4,608,000 after buying an additional 7,871 shares during the last quarter. Secured Retirement Advisors LLC acquired a new stake in Salesforce during the first quarter worth about $1,004,000. Hilton Head Capital Partners LLC bought a new position in Salesforce in the fourth quarter worth about $997,000. Finally, Independent Franchise Partners LLP bought a new position in shares of Salesforce during the fourth quarter valued at approximately $142,521,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CRM. HC Wainwright lowered Salesforce to a “negative” rating in a research report on Thursday, June 18th. Monness Crespi & Hardt raised shares of Salesforce from a “neutral” rating to a “buy” rating and set a $200.00 price objective on the stock in a report on Thursday, June 18th. Needham & Company LLC reissued a “buy” rating on shares of Salesforce in a research note on Tuesday, June 16th. KeyCorp lowered shares of Salesforce from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, July 8th. Finally, B. Riley Financial lifted their price target on Salesforce from $205.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, fourteen have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $254.42.

Salesforce Stock Performance

CRM opened at $167.32 on Thursday. The business has a 50 day moving average price of $171.12 and a two-hundred day moving average price of $191.99. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.79 and a quick ratio of 0.79. The company has a market capitalization of $137.03 billion, a price-to-earnings ratio of 19.37, a price-to-earnings-growth ratio of 0.90 and a beta of 1.18. Salesforce Inc. has a 1-year low of $146.32 and a 1-year high of $274.00.

Salesforce (NYSE:CRM) last posted its quarterly earnings data 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 return on equity of 18.72% and a net margin of 18.73%.The company had revenue of $11.13 billion for the quarter, compared to the consensus estimate of $11.05 billion. During the same quarter in the previous year, the business earned $2.58 EPS. The company’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. Research analysts predict that Salesforce Inc. will post 10.29 EPS for the current fiscal year.

Salesforce Announces Dividend

The firm 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 1.1%. The ex-dividend date was Thursday, June 11th. Salesforce’s payout ratio is presently 20.37%.

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.