Dumont & Blake Investment Advisors LLC Buys Shares of 3,895 Salesforce Inc. $CRM

Dumont & Blake Investment Advisors LLC purchased a new stake in shares of Salesforce Inc. (NYSE:CRM) in the first quarter, HoldingsChannel.com reports. The fund purchased 3,895 shares of the CRM provider’s stock, valued at approximately $727,000.

Several other institutional investors have also modified their holdings of CRM. Brighton Jones LLC raised its stake in shares of Salesforce by 13.7% during the 4th quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider’s stock worth $8,582,000 after buying an additional 3,102 shares during the last quarter. Revolve Wealth Partners LLC raised its position in Salesforce by 12.6% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,827 shares of the CRM provider’s stock worth $611,000 after acquiring an additional 205 shares during the last quarter. Bison Wealth LLC lifted its holdings in shares of Salesforce by 9.0% in the fourth quarter. Bison Wealth LLC now owns 2,234 shares of the CRM provider’s stock valued at $747,000 after purchasing an additional 184 shares in the last quarter. Sivia Capital Partners LLC lifted its position in shares of Salesforce by 3.7% in the second quarter. Sivia Capital Partners LLC now owns 2,958 shares of the CRM provider’s stock valued at $807,000 after acquiring an additional 106 shares in the last quarter. Finally, United Bank boosted its stake in Salesforce by 5.2% in the 2nd quarter. United Bank now owns 10,198 shares of the CRM provider’s stock worth $2,781,000 after buying an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Trading Down 0.3%

Salesforce stock opened at $165.60 on Tuesday. The company has a 50 day moving average price of $173.23 and a 200 day moving average price of $197.31. 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 Inc. has a 52 week low of $146.32 and a 52 week high of $276.80. The firm has a market capitalization of $135.63 billion, a price-to-earnings ratio of 19.17, a P/E/G ratio of 1.03 and a beta of 1.18.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Wednesday, May 27th. The CRM provider reported $3.88 earnings per share (EPS) for the quarter, topping 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 company had revenue of $11.13 billion during the quarter, compared to the consensus estimate of $11.05 billion. During the same quarter in the prior year, the company posted $2.58 EPS. The firm’s revenue was up 13.3% on a year-over-year basis. 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 10.29 EPS for the current year.

Salesforce announced that its Board of Directors has approved a share buyback program on Monday, March 16th that permits the company to repurchase $25.00 billion in shares. This repurchase authorization permits the CRM provider to buy up to 14.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Salesforce Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. BMO Capital Markets lowered their price target on shares of Salesforce from $225.00 to $215.00 and set an “outperform” rating for the company in a report on Thursday, May 28th. Wall Street Zen upgraded Salesforce from a “hold” rating to a “buy” rating in a report on Saturday, June 6th. Cantor Fitzgerald reiterated an “overweight” rating and set a $250.00 price objective on shares of Salesforce in a research note on Thursday, May 28th. Wolfe Research lowered shares of Salesforce from an “outperform” rating to a “hold” rating in a research report on Wednesday, July 1st. Finally, Jefferies Financial Group raised Salesforce from a “buy” rating to a “buy” rating in a research note on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, twelve have assigned a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $254.42.

About Salesforce

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.