Principle Wealth Partners LLC Invests $1.07 Million in Salesforce Inc. $CRM

Principle Wealth Partners LLC acquired a new position in Salesforce Inc. (NYSE:CRM) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 6,808 shares of the CRM provider’s stock, valued at approximately $1,067,000.

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

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Roth Capital reiterated a “buy” rating and set a $325.00 price target on shares of Salesforce in a research report on Thursday, May 28th. Citigroup raised Salesforce from a “hold” rating to a “buy” rating in a report on Wednesday, July 1st. Wedbush initiated coverage on shares of Salesforce in a research note on Wednesday, July 1st. They set an “outperform” rating on the stock. HC Wainwright downgraded shares of Salesforce to a “negative” rating in a report on Thursday, June 18th. Finally, Citizens Jmp reiterated a “market outperform” rating and issued a $315.00 target price on shares of Salesforce in a research report on Thursday, May 28th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, seventeen have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $249.05.

Salesforce Stock Performance

Shares of NYSE CRM opened at $191.20 on Tuesday. Salesforce Inc. has a 1 year low of $146.32 and a 1 year high of $269.11. The firm has a market cap of $156.59 billion, a P/E ratio of 22.13, a PEG ratio of 1.06 and a beta of 1.16. The stock has a fifty day moving average price of $171.58 and a two-hundred day moving average price of $181.69. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.79 and a current ratio of 0.79.

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. The company had revenue of $11.13 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter 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. Research analysts forecast that Salesforce Inc. will post 10.27 EPS for the current fiscal year.

Salesforce Announces Dividend

The firm also recently declared 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 was Thursday, June 11th. This represents a $1.76 annualized dividend and a yield of 0.9%. Salesforce’s payout ratio is 20.37%.

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.