Salesforce Inc. $CRM Shares Acquired by BTC Capital Management Inc.

BTC Capital Management Inc. lifted its stake in Salesforce Inc. (NYSE:CRM) by 91.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,270 shares of the CRM provider’s stock after buying an additional 3,466 shares during the period. BTC Capital Management Inc.’s holdings in Salesforce were worth $1,357,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hilton Head Capital Partners LLC lifted its position in Salesforce by 8.6% in the first quarter. Hilton Head Capital Partners LLC now owns 4,089 shares of the CRM provider’s stock valued at $763,000 after acquiring an additional 324 shares during the last quarter. Davis Investment Partners LLC boosted its stake in Salesforce by 12.4% in the first quarter. Davis Investment Partners LLC now owns 2,641 shares of the CRM provider’s stock valued at $493,000 after acquiring an additional 291 shares in the last quarter. RFG Advisory LLC grew its holdings in shares of Salesforce by 18.8% during the first quarter. RFG Advisory LLC now owns 13,177 shares of the CRM provider’s stock worth $2,460,000 after purchasing an additional 2,088 shares during the last quarter. Fifth Third Wealth Advisors LLC grew its holdings in shares of Salesforce by 9.2% during the first quarter. Fifth Third Wealth Advisors LLC now owns 18,876 shares of the CRM provider’s stock worth $3,524,000 after purchasing an additional 1,587 shares during the last quarter. Finally, OP Asset Management Ltd acquired a new stake in shares of Salesforce during the first quarter worth about $22,657,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Stock Performance

NYSE CRM opened at $150.39 on Friday. 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 Inc. has a 52-week low of $146.32 and a 52-week high of $276.80. The business’s 50-day moving average price is $175.95 and its 200 day moving average price is $201.50. The firm has a market cap of $123.17 billion, a P/E ratio of 17.41, a P/E/G ratio of 0.95 and a beta of 1.16.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, May 27th. The CRM provider reported $3.88 EPS for the quarter, beating the consensus estimate of $3.13 by $0.75. Salesforce had a return on equity of 18.72% and a net margin of 18.73%.The firm had revenue of $11.13 billion during the quarter, compared to the consensus estimate of $11.05 billion. During the same period in the prior year, the business earned $2.58 EPS. The firm’s 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. On average, equities research analysts expect that Salesforce Inc. will post 10.29 earnings per share for the current year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Thursday, June 11th will be given a dividend of $0.44 per share. The ex-dividend date is Thursday, June 11th. This represents a $1.76 dividend on an annualized basis and a yield of 1.2%. Salesforce’s dividend payout ratio is presently 20.37%.

Salesforce declared that its Board of Directors has initiated a share repurchase program on Monday, March 16th that allows the company to buyback $25.00 billion in 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 often an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CRM shares. Macquarie Infrastructure reduced their target price on Salesforce from $200.00 to $190.00 and set a “neutral” rating for the company in a report on Thursday, May 28th. TD Cowen restated a “buy” rating on shares of Salesforce in a research note on Friday, June 12th. Needham & Company LLC reaffirmed a “buy” rating on shares of Salesforce in a research report on Tuesday, June 16th. JPMorgan Chase & Co. reduced their price objective on Salesforce from $365.00 to $320.00 and set an “overweight” rating for the company in a research note on Thursday, February 26th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Salesforce in a report on Monday, June 15th. One 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 MarketBeat, Salesforce currently 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.