Greenwood Gearhart LLC Acquires 76,755 Shares of Salesforce Inc. $CRM

Greenwood Gearhart LLC grew its holdings in Salesforce Inc. (NYSE:CRM) by 8,852.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 77,622 shares of the CRM provider’s stock after purchasing an additional 76,755 shares during the quarter. Greenwood Gearhart LLC’s holdings in Salesforce were worth $14,490,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in Salesforce by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 89,843,166 shares of the CRM provider’s stock worth $23,800,353,000 after purchasing an additional 270,913 shares in the last quarter. State Street Corp boosted its holdings in shares of Salesforce by 1.3% during the 4th quarter. State Street Corp now owns 50,080,230 shares of the CRM provider’s stock worth $13,286,909,000 after buying an additional 659,573 shares in the last quarter. J. Stern & Co. LLP grew its position in shares of Salesforce by 24,056.7% during 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 buying an additional 47,189,352 shares during the period. Capital International Investors grew its position in shares of Salesforce by 13.3% during the 4th quarter. Capital International Investors now owns 22,721,010 shares of the CRM provider’s stock worth $6,019,199,000 after buying an additional 2,669,891 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Salesforce by 3.8% in the 4th quarter. Geode Capital Management LLC now owns 21,782,556 shares of the CRM provider’s stock valued at $5,751,073,000 after acquiring an additional 791,345 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. The Goldman Sachs Group began coverage on shares of Salesforce in a research report on Thursday, June 18th. They set a “neutral” rating on the stock. Jefferies Financial Group raised shares of Salesforce from a “buy” rating to a “buy” rating in a research note on Wednesday, July 1st. TD Cowen reiterated a “buy” rating on shares of Salesforce in a report on Friday, June 12th. Wolfe Research cut shares of Salesforce from an “outperform” rating to a “hold” rating in a research report on Wednesday, July 1st. Finally, KeyCorp downgraded Salesforce from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, fifteen have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $254.42.

Salesforce Price Performance

Shares of CRM opened at $171.20 on Monday. The business’s fifty day moving average is $170.64 and its 200 day moving average is $190.67. Salesforce Inc. has a 12-month low of $146.32 and a 12-month high of $274.00. 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 stock has a market cap of $140.21 billion, a P/E ratio of 19.82, a P/E/G ratio of 0.92 and a beta of 1.18.

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. Salesforce had a net margin of 18.73% and a return on equity of 18.72%. The business had revenue of $11.13 billion during the quarter, compared to analyst estimates of $11.05 billion. During the same quarter in the previous year, the business posted $2.58 EPS. Salesforce’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. Sell-side analysts anticipate that Salesforce Inc. will post 10.29 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

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

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.