Meeder Advisory Services Inc. Acquires New Position in Salesforce Inc. $CRM

Meeder Advisory Services Inc. acquired a new stake in Salesforce Inc. (NYSE:CRM) in the second quarter, HoldingsChannel.com reports. The fund acquired 14,641 shares of the CRM provider’s stock, valued at approximately $2,294,000.

Other institutional investors have also bought and sold shares of the company. Commonwealth Retirement Investments LLC purchased a new stake in shares of Salesforce in the fourth quarter valued at approximately $25,000. Gilpin Wealth Management LLC acquired a new stake in shares of Salesforce in the fourth quarter valued at approximately $26,000. Persistent Asset Partners Ltd purchased a new position in Salesforce during the second quarter worth approximately $27,000. Costello Asset Management INC lifted its position in Salesforce by 410.3% during the first quarter. Costello Asset Management INC now owns 148 shares of the CRM provider’s stock worth $28,000 after buying an additional 119 shares in the last quarter. Finally, Birchwood Financial Partners Inc. acquired a new position in Salesforce during the fourth quarter worth $28,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. BTIG Research restated a “buy” rating and issued a $255.00 target price on shares of Salesforce in a report on Tuesday, May 26th. Wolfe Research lowered Salesforce from an “outperform” rating to a “hold” rating in a report on Wednesday, July 1st. Sanford C. Bernstein lowered their price target on shares of Salesforce from $194.00 to $173.00 and set an “underperform” rating on the stock in a research report on Thursday, May 28th. Phillip Securities lowered shares of Salesforce from a “buy” rating to a “hold” rating and dropped their price objective for the company from $253.00 to $166.00 in a report on Monday, June 29th. Finally, Erste Group Bank upgraded shares of Salesforce from a “hold” rating to a “buy” rating in a research report on Wednesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, eighteen have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $249.49.

Salesforce Price Performance

CRM stock opened at $196.28 on Wednesday. Salesforce Inc. has a 52-week low of $146.32 and a 52-week high of $269.11. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.15. The stock has a market cap of $160.76 billion, a price-to-earnings ratio of 22.72, a price-to-earnings-growth ratio of 1.06 and a beta of 1.16. The business has a fifty day moving average of $172.00 and a two-hundred day moving average of $181.47.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Wednesday, May 27th. The CRM provider reported $3.88 EPS for the quarter, beating the consensus estimate of $3.13 by $0.75. The business had revenue of $11.13 billion for 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%.The company’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $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. As a group, research analysts anticipate that Salesforce Inc. will post 10.27 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Thursday, June 11th were given a $0.44 dividend. The ex-dividend date of this dividend was Thursday, June 11th. This represents a $1.76 dividend on an annualized basis and a yield of 0.9%. Salesforce’s dividend 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.