Penn Davis Mcfarland Inc. Purchases New Holdings in Salesforce Inc. $CRM

Penn Davis Mcfarland Inc. purchased a new stake in Salesforce Inc. (NYSE:CRM) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 155,266 shares of the CRM provider’s stock, valued at approximately $28,984,000. Salesforce makes up approximately 2.8% of Penn Davis Mcfarland Inc.’s investment portfolio, making the stock its 15th biggest holding.

A number of other institutional investors and hedge funds also recently made changes to their positions in CRM. Commonwealth Retirement Investments LLC bought a new stake in Salesforce during the fourth quarter worth $25,000. Board of the Pension Protection Fund acquired a new stake in Salesforce in the fourth quarter valued at $26,000. Key Capital Management INC bought a new position in shares of Salesforce in the 4th quarter valued at about $26,000. Gilpin Wealth Management LLC bought a new position in shares of Salesforce in the 4th quarter valued at about $26,000. Finally, Legacy Bridge LLC acquired a new position in shares of Salesforce during the 4th quarter worth about $27,000. Institutional investors own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

CRM has been the topic of a number of research analyst reports. KeyCorp dropped their target price on shares of Salesforce from $300.00 to $290.00 and set an “overweight” rating on the stock in a report on Thursday, May 28th. Wolfe Research reiterated an “outperform” rating on shares of Salesforce in a report on Monday, June 15th. TD Cowen reissued a “buy” rating on shares of Salesforce in a research report on Friday, June 12th. Canaccord Genuity Group restated a “buy” rating and issued a $225.00 price objective on shares of Salesforce in a research note on Tuesday, June 16th. Finally, Northland Securities cut their price objective on Salesforce from $267.00 to $229.00 and set a “market perform” rating for the company in a research report on Tuesday, March 10th. One analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, eleven have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and an average target price of $257.61.

Salesforce Stock Performance

NYSE CRM opened at $150.39 on Friday. The stock has a market cap of $123.17 billion, a PE ratio of 17.41, a P/E/G ratio of 0.95 and a beta of 1.16. 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 firm has a 50-day moving average of $175.95 and a 200-day moving average of $201.50. Salesforce Inc. has a 52-week low of $146.32 and a 52-week high of $276.80.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Wednesday, May 27th. The CRM provider reported $3.88 EPS for the quarter, beating analysts’ consensus estimates of $3.13 by $0.75. The business 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%. Salesforce’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter in the prior 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 EPS for the current year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Thursday, June 11th will be given a $0.44 dividend. The ex-dividend date of this dividend is Thursday, June 11th. This represents a $1.76 annualized dividend and a dividend yield of 1.2%. Salesforce’s dividend payout ratio is presently 20.37%.

Salesforce announced that its board has initiated a stock buyback plan on Monday, March 16th that permits the company to repurchase $25.00 billion in shares. This repurchase authorization permits the CRM provider to purchase up to 14.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.