Assetmark Inc. Has $26.35 Million Stake in Salesforce Inc. $CRM

Assetmark Inc. increased its stake in Salesforce Inc. (NYSE:CRM) by 4.5% in the 1st quarter, HoldingsChannel.com reports. The fund owned 141,158 shares of the CRM provider’s stock after purchasing an additional 6,076 shares during the quarter. Assetmark Inc.’s holdings in Salesforce were worth $26,350,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Byrne Asset Management LLC increased its stake in Salesforce by 1.0% in the fourth quarter. Byrne Asset Management LLC now owns 4,331 shares of the CRM provider’s stock valued at $1,147,000 after purchasing an additional 43 shares in the last quarter. Fred Alger Management LLC boosted its position in shares of Salesforce by 0.3% during the 3rd quarter. Fred Alger Management LLC now owns 14,943 shares of the CRM provider’s stock worth $3,548,000 after purchasing an additional 45 shares in the last quarter. Pine Haven Investment Counsel Inc grew its stake in shares of Salesforce by 1.5% in the 4th quarter. Pine Haven Investment Counsel Inc now owns 3,152 shares of the CRM provider’s stock valued at $835,000 after buying an additional 46 shares during the period. Richards Merrill & Peterson Inc. increased its position in Salesforce by 1.1% in the 4th quarter. Richards Merrill & Peterson Inc. now owns 4,239 shares of the CRM provider’s stock valued at $1,123,000 after buying an additional 46 shares in the last quarter. Finally, Wright Investors Service Inc. increased its position in Salesforce by 0.8% in the 4th quarter. Wright Investors Service Inc. now owns 6,186 shares of the CRM provider’s stock valued at $1,639,000 after buying an additional 47 shares in the last quarter. 80.43% of the stock is owned by institutional investors.

Salesforce Trading Down 0.9%

Shares of Salesforce stock opened at $171.20 on Friday. The company has a market capitalization of $140.21 billion, a P/E ratio of 19.82, a price-to-earnings-growth ratio of 0.92 and a beta of 1.18. The stock has a fifty day simple moving average of $170.64 and a 200 day simple moving average of $191.20. Salesforce Inc. has a 12-month low of $146.32 and a 12-month high of $274.00. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.15.

Salesforce (NYSE:CRM) last issued 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 business had revenue of $11.13 billion for the quarter, compared to analysts’ expectations of $11.05 billion. Salesforce had a return on equity of 18.72% and a net margin of 18.73%.The business’s revenue was up 13.3% on a year-over-year basis. During the same period last year, the business earned $2.58 EPS. 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, sell-side analysts anticipate that Salesforce Inc. will post 10.29 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Citigroup upgraded Salesforce from a “hold” rating to a “buy” rating in a report on Wednesday, July 1st. Barclays raised Salesforce from an “overweight” rating to an “overweight” rating in a research report on Thursday, June 18th. Macquarie Infrastructure reduced their price target on shares of Salesforce from $200.00 to $190.00 and set a “neutral” rating for the company in a research report on Thursday, May 28th. Needham & Company LLC restated a “buy” rating on shares of Salesforce in a research note on Tuesday, June 16th. Finally, Roth Capital restated a “buy” rating and set a $325.00 price objective on shares of Salesforce in a report on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, fourteen have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company 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.