Moran Wealth Management LLC Sells 10,009 Shares of Salesforce Inc. $CRM

Moran Wealth Management LLC reduced its stake in Salesforce Inc. (NYSE:CRM) by 26.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,788 shares of the CRM provider’s stock after selling 10,009 shares during the period. Moran Wealth Management LLC’s holdings in Salesforce were worth $5,187,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Commonwealth Retirement Investments LLC acquired a new stake in Salesforce in the 4th quarter valued at $25,000. Board of the Pension Protection Fund acquired a new position in Salesforce during the fourth quarter worth $26,000. Key Capital Management INC acquired a new position in Salesforce during the fourth quarter worth $26,000. Gilpin Wealth Management LLC bought a new position in shares of Salesforce during the fourth quarter valued at $26,000. Finally, Legacy Bridge LLC bought a new position in shares of Salesforce during the fourth quarter valued at $27,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Citigroup raised shares of Salesforce from a “market outperform” rating to a “buy” rating in a report on Wednesday. Northland Securities cut their price target on shares of Salesforce from $267.00 to $229.00 and set a “market perform” rating for the company in a report on Tuesday, March 10th. Piper Sandler lowered shares of Salesforce from an “overweight” rating to a “neutral” rating in a research report on Thursday, May 28th. Jefferies Financial Group raised shares of Salesforce from a “buy” rating to a “buy” rating in a research note on Wednesday. Finally, Wall Street Zen raised shares of Salesforce from a “hold” rating to a “buy” rating in a report on Saturday, June 6th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, twelve have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and an average target price of $254.42.

Salesforce Trading Down 0.1%

Shares of NYSE CRM opened at $165.94 on Friday. Salesforce Inc. has a 1-year low of $146.32 and a 1-year high of $276.80. The company has a market cap of $135.90 billion, a PE ratio of 19.21, a P/E/G ratio of 1.03 and a beta of 1.18. 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 50-day moving average of $173.23 and a two-hundred day moving average of $197.71.

Salesforce (NYSE:CRM) last released 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 analysts’ expectations of $11.05 billion. Salesforce had a net margin of 18.73% and a return on equity of 18.72%. Salesforce’s revenue was up 13.3% compared to the same quarter last year. During the same period in the prior year, the firm 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. As a group, equities analysts expect that Salesforce Inc. will post 10.29 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Thursday, June 11th were given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Thursday, June 11th. Salesforce’s dividend payout ratio (DPR) is presently 20.37%.

Salesforce announced that its board has authorized a share repurchase program on Monday, March 16th that permits the company to buyback $25.00 billion in shares. This buyback authorization permits the CRM provider to reacquire up to 14.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

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.