Apollon Wealth Management LLC Buys 20,324 Shares of Salesforce Inc. $CRM

Apollon Wealth Management LLC boosted its stake in Salesforce Inc. (NYSE:CRM) by 70.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 49,073 shares of the CRM provider’s stock after purchasing an additional 20,324 shares during the quarter. Apollon Wealth Management LLC’s holdings in Salesforce were worth $9,161,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Temasek Holdings Private Ltd raised its holdings in Salesforce by 3.7% during the 4th quarter. Temasek Holdings Private Ltd now owns 683,790 shares of the CRM provider’s stock worth $181,143,000 after purchasing an additional 24,332 shares during the last quarter. SFE Investment Counsel boosted its stake in shares of Salesforce by 82.7% in the 4th quarter. SFE Investment Counsel now owns 17,394 shares of the CRM provider’s stock valued at $4,608,000 after purchasing an additional 7,871 shares during the last quarter. Van ECK Associates Corp increased its position in shares of Salesforce by 8.9% during the third quarter. Van ECK Associates Corp now owns 1,299,513 shares of the CRM provider’s stock worth $307,984,000 after buying an additional 106,107 shares during the period. Fisher Asset Management LLC increased its position in shares of Salesforce by 2.4% during the third quarter. Fisher Asset Management LLC now owns 4,328,230 shares of the CRM provider’s stock worth $1,025,791,000 after buying an additional 101,191 shares during the period. Finally, Eminence Capital LP raised its stake in Salesforce by 5.6% during the third quarter. Eminence Capital LP now owns 830,536 shares of the CRM provider’s stock worth $196,837,000 after buying an additional 43,888 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Salesforce Trading Down 0.2%

CRM opened at $158.12 on Tuesday. Salesforce Inc. has a 1-year low of $146.32 and a 1-year high of $276.80. 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 market cap of $129.50 billion, a P/E ratio of 18.30, a price-to-earnings-growth ratio of 0.99 and a beta of 1.16. The company has a fifty day moving average price of $175.09 and a two-hundred day moving average price of $200.07.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, May 27th. The CRM provider reported $3.88 earnings per share for the quarter, beating the consensus estimate of $3.13 by $0.75. The firm had revenue of $11.13 billion for the quarter, compared to analyst estimates of $11.05 billion. Salesforce had a net margin of 18.73% and a return on equity of 18.72%. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the business 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. Analysts predict that Salesforce Inc. will post 10.29 EPS for the current fiscal year.

Salesforce declared that its Board of Directors has authorized a share repurchase program on Monday, March 16th that permits the company to buyback $25.00 billion in outstanding shares. This buyback authorization permits the CRM provider to purchase up to 14.1% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Salesforce Announces Dividend

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 paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Thursday, June 11th. Salesforce’s dividend payout ratio (DPR) is 20.37%.

Analysts Set New Price Targets

Several research firms recently issued reports on CRM. Phillip Securities lowered shares of Salesforce from a “buy” rating to a “neutral” rating and dropped their target price for the company from $253.00 to $166.00 in a report on Monday. DA Davidson decreased their price target on Salesforce from $200.00 to $175.00 and set a “neutral” rating for the company in a report on Thursday, May 28th. Monness Crespi & Hardt raised Salesforce from a “neutral” rating to a “buy” rating and set a $200.00 price objective for the company in a research report on Thursday, June 18th. Royal Bank Of Canada reissued a “neutral” rating on shares of Salesforce in a research note on Thursday, June 4th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $225.00 target price on shares of Salesforce in a research report on Tuesday, June 16th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, twelve have issued a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, Salesforce has a consensus rating of “Moderate Buy” and an average target price of $255.14.

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.