Allspring Global Investments Holdings LLC Grows Position in Salesforce Inc. $CRM

Allspring Global Investments Holdings LLC raised its stake in shares of Salesforce Inc. (NYSE:CRM) by 17.4% in the 1st quarter, HoldingsChannel.com reports. The firm owned 479,992 shares of the CRM provider’s stock after purchasing an additional 71,081 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Salesforce were worth $89,394,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Commonwealth Retirement Investments LLC purchased a new stake in shares of Salesforce during the 4th quarter valued at $25,000. Board of the Pension Protection Fund acquired a new position in Salesforce in the fourth quarter valued at $26,000. Key Capital Management INC acquired a new position in Salesforce in the fourth quarter valued at $26,000. Gilpin Wealth Management LLC purchased a new stake in Salesforce during the fourth quarter valued at about $26,000. Finally, Legacy Bridge LLC purchased a new stake in Salesforce during the fourth quarter valued at about $27,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Trading Down 0.9%

NYSE:CRM opened at $171.20 on Friday. The company has a market cap of $140.21 billion, a PE ratio of 19.82, a P/E/G ratio of 0.93 and a beta of 1.18. The business’s 50 day moving average is $170.64 and its two-hundred day moving average is $191.20. 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 $274.00.

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

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Thursday, June 11th were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Thursday, June 11th. Salesforce’s dividend payout ratio is 20.37%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CRM shares. Sanford C. Bernstein cut their price objective on Salesforce from $194.00 to $173.00 and set an “underperform” rating on the stock in a report on Thursday, May 28th. Canaccord Genuity Group reiterated a “buy” rating and set a $225.00 target price on shares of Salesforce in a report on Tuesday, June 16th. Needham & Company LLC reissued a “buy” rating on shares of Salesforce in a research report on Tuesday, June 16th. BMO Capital Markets cut their price target on shares of Salesforce from $225.00 to $215.00 and set an “outperform” rating on the stock in a report on Thursday, May 28th. Finally, UBS Group assumed coverage on shares of Salesforce in a research report on Wednesday, July 1st. They set an “overweight” rating on the stock. One analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, fourteen have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Salesforce currently has an average rating of “Moderate Buy” and an average price target of $254.42.

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.