Parallel Advisors LLC Has $11.23 Million Stock Holdings in Salesforce Inc. $CRM

Parallel Advisors LLC reduced its holdings in Salesforce Inc. (NYSE:CRM) by 8.1% in the 1st quarter, Holdings Channel reports. The fund owned 60,147 shares of the CRM provider’s stock after selling 5,316 shares during the quarter. Parallel Advisors LLC’s holdings in Salesforce were worth $11,228,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of Salesforce by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 89,843,166 shares of the CRM provider’s stock worth $23,800,353,000 after acquiring an additional 270,913 shares in the last quarter. State Street Corp lifted its position in Salesforce by 1.3% in the 4th quarter. State Street Corp now owns 50,080,230 shares of the CRM provider’s stock valued at $13,286,909,000 after acquiring an additional 659,573 shares in the last quarter. J. Stern & Co. LLP boosted its stake in 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 worth $12,552,896,000 after purchasing an additional 47,189,352 shares during the period. Capital International Investors boosted its stake in Salesforce by 13.3% in the 4th quarter. Capital International Investors now owns 22,721,010 shares of the CRM provider’s stock worth $6,019,199,000 after purchasing an additional 2,669,891 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Salesforce by 3.8% during the 4th quarter. Geode Capital Management LLC now owns 21,782,556 shares of the CRM provider’s stock worth $5,751,073,000 after purchasing an additional 791,345 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

CRM has been the subject of a number of research reports. Guggenheim upgraded Salesforce from a “neutral” rating to a “buy” rating and set a $228.00 price objective for the company in a report on Wednesday, July 1st. Weiss Ratings cut Salesforce from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, July 24th. KeyCorp cut shares of Salesforce from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, July 8th. Morgan Stanley reiterated an “equal weight” rating and issued a $185.00 price objective (down from $287.00) on shares of Salesforce in a report on Tuesday, July 21st. Finally, Wall Street Zen lowered shares of Salesforce from a “buy” rating to a “hold” rating in a research report on Saturday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, sixteen have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $249.51.

Salesforce Price Performance

Shares of NYSE CRM opened at $191.02 on Wednesday. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.15. The business’s 50 day moving average price is $170.69 and its two-hundred day moving average price is $183.76. The company has a market cap of $156.45 billion, a PE ratio of 22.11, a price-to-earnings-growth ratio of 1.01 and a beta of 1.16. Salesforce Inc. has a twelve month low of $146.32 and a twelve month high of $269.11.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, May 27th. The CRM provider reported $3.88 EPS for the quarter, topping the consensus estimate of $3.13 by $0.75. The company had revenue of $11.13 billion during the quarter, compared to the consensus estimate of $11.05 billion. Salesforce had a return on equity of 18.72% and a net margin of 18.73%.The firm’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period in the previous year, the company posted $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, analysts predict that Salesforce Inc. will post 10.27 EPS for the current year.

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Thursday, June 11th were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Thursday, June 11th. Salesforce’s dividend 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.