Occidental Asset Management LLC Takes Position in Salesforce Inc. $CRM

Occidental Asset Management LLC acquired a new position in Salesforce Inc. (NYSE:CRM) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 31,961 shares of the CRM provider’s stock, valued at approximately $5,007,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Fred Alger Management LLC boosted its stake in Salesforce by 0.3% in 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 during the period. Richards Merrill & Peterson Inc. grew its holdings in Salesforce by 1.1% during 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. Mowery & Schoenfeld Wealth Management LLC raised its position in shares of Salesforce by 6.9% during the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 745 shares of the CRM provider’s stock valued at $197,000 after buying an additional 48 shares during the last quarter. Synergy Financial Group LTD raised its position in shares of Salesforce by 2.4% during the third quarter. Synergy Financial Group LTD now owns 2,035 shares of the CRM provider’s stock valued at $482,000 after buying an additional 48 shares during the last quarter. Finally, Arbor Capital Management Inc. ADV lifted its holdings in shares of Salesforce by 1.6% in the fourth quarter. Arbor Capital Management Inc. ADV now owns 3,321 shares of the CRM provider’s stock worth $884,000 after buying an additional 51 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Salesforce Price Performance

Salesforce stock opened at $191.20 on Tuesday. Salesforce Inc. has a 52-week low of $146.32 and a 52-week high of $269.11. 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 firm’s fifty day moving average is $171.58 and its 200 day moving average is $181.69. The company has a market cap of $156.59 billion, a price-to-earnings ratio of 22.13, a PEG ratio of 1.06 and a beta of 1.16.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Wednesday, May 27th. The CRM provider reported $3.88 EPS for the quarter, topping 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 analysts’ expectations of $11.05 billion. During the same period last year, the company posted $2.58 EPS. The business’s 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 forecast that Salesforce Inc. will post 10.27 EPS for the current fiscal year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Thursday, June 11th were given a $0.44 dividend. The ex-dividend date was Thursday, June 11th. This represents a $1.76 annualized dividend and a yield of 0.9%. Salesforce’s dividend payout ratio (DPR) is currently 20.37%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. BMO Capital Markets dropped their target price on shares of Salesforce from $225.00 to $215.00 and set an “outperform” rating for the company in a research report on Thursday, May 28th. Citizens Jmp reiterated a “market outperform” rating and issued a $315.00 price target on shares of Salesforce in a research note on Thursday, May 28th. Morgan Stanley reissued an “equal weight” rating and set a $185.00 price objective (down from $287.00) on shares of Salesforce in a report on Tuesday, July 21st. Wedbush assumed coverage on Salesforce in a research report on Wednesday, July 1st. They set an “outperform” rating for the company. Finally, Wolfe Research downgraded Salesforce from an “outperform” rating to a “hold” rating in a research report on Wednesday, July 1st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, seventeen have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and a consensus target price of $249.05.

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.