Copeland Capital Management LLC Cuts Holdings in Salesforce Inc. $CRM

Copeland Capital Management LLC lowered its position in Salesforce Inc. (NYSE:CRM) by 92.6% in the first quarter, HoldingsChannel reports. The fund owned 3,719 shares of the CRM provider’s stock after selling 46,821 shares during the quarter. Copeland Capital Management LLC’s holdings in Salesforce were worth $694,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. J. Stern & Co. LLP increased its stake in shares of 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 valued at $12,552,896,000 after purchasing an additional 47,189,352 shares in the last quarter. Norges Bank purchased a new position in Salesforce during the fourth quarter worth approximately $3,182,951,000. Cardano Risk Management B.V. boosted its position in Salesforce by 924.7% during the fourth quarter. Cardano Risk Management B.V. now owns 3,883,610 shares of the CRM provider’s stock worth $1,028,807,000 after purchasing an additional 3,504,605 shares in the last quarter. Capital International Investors grew its holdings in Salesforce by 13.3% in the fourth quarter. Capital International Investors now owns 22,721,010 shares of the CRM provider’s stock valued at $6,019,199,000 after purchasing an additional 2,669,891 shares during the period. Finally, Capital World Investors grew its holdings in Salesforce by 13.5% in the fourth quarter. Capital World Investors now owns 19,672,684 shares of the CRM provider’s stock valued at $5,211,515,000 after purchasing an additional 2,347,478 shares during the period. 80.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Roth Capital reaffirmed a “buy” rating and set a $325.00 target price on shares of Salesforce in a research note on Thursday, May 28th. HSBC lifted their price target on shares of Salesforce from $350.00 to $356.00 and gave the company a “buy” rating in a research note on Friday, May 29th. Wall Street Zen raised shares of Salesforce from a “hold” rating to a “buy” rating in a report on Saturday, June 6th. Guggenheim upgraded shares of Salesforce from a “neutral” rating to a “buy” rating and set a $228.00 price objective for the company in a research report on Wednesday, July 1st. Finally, Weiss Ratings raised shares of Salesforce from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, fourteen have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and a consensus price target of $254.42.

Salesforce Stock Down 0.9%

NYSE CRM opened at $171.20 on Friday. The business has a fifty day moving average price of $170.64 and a 200 day moving average price of $191.20. Salesforce Inc. has a one year low of $146.32 and a one year high of $274.00. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.79 and a current ratio of 0.79. The company has a market cap of $140.21 billion, a P/E ratio of 19.82, a P/E/G ratio of 0.92 and a beta of 1.18.

Salesforce (NYSE:CRM) last announced its 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 net margin of 18.73% and a return on equity of 18.72%. The company had revenue of $11.13 billion for the quarter, compared to analysts’ expectations of $11.05 billion. During the same quarter in the previous year, the company posted $2.58 EPS. The firm’s quarterly 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 anticipate that Salesforce Inc. will post 10.29 EPS for the current fiscal year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Thursday, June 11th were given a dividend of $0.44 per share. The ex-dividend date was Thursday, June 11th. This represents a $1.76 dividend on an annualized basis and a yield of 1.0%. Salesforce’s payout ratio is presently 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.