83,515 Shares in Salesforce Inc. $CRM Bought by Danica Pension Livsforsikringsaktieselskab

Danica Pension Livsforsikringsaktieselskab bought a new position in shares of Salesforce Inc. (NYSE:CRM) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 83,515 shares of the CRM provider’s stock, valued at approximately $13,083,000.

A number of other hedge funds also recently bought and sold shares of CRM. Commonwealth Retirement Investments LLC bought a new position in shares of Salesforce in the fourth quarter worth about $25,000. Gilpin Wealth Management LLC acquired a new position in shares of Salesforce during the 4th quarter worth about $26,000. Persistent Asset Partners Ltd bought a new stake in Salesforce during the 2nd quarter valued at approximately $27,000. Costello Asset Management INC grew its holdings in Salesforce by 410.3% in the 1st quarter. Costello Asset Management INC now owns 148 shares of the CRM provider’s stock valued at $28,000 after buying an additional 119 shares during the last quarter. Finally, Gables Capital Management Inc. acquired a new stake in Salesforce in the 2nd quarter valued at approximately $28,000. 80.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Bank of America started coverage on Salesforce in a report on Monday, May 18th. They set an “underperform” rating and a $160.00 price target for the company. Needham & Company LLC restated a “buy” rating on shares of Salesforce in a research note on Tuesday, June 16th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $250.00 target price on shares of Salesforce in a research report on Thursday, May 28th. Barclays upgraded shares of Salesforce from an “overweight” rating to an “overweight” rating in a research note on Thursday, June 18th. Finally, Wolfe Research downgraded shares of Salesforce from an “outperform” rating to a “hold” rating in a report on Wednesday, July 1st. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, eighteen have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $249.49.

Salesforce Price Performance

Shares of NYSE:CRM opened at $196.28 on Wednesday. The firm has a market capitalization of $160.76 billion, a PE ratio of 22.72, a PEG ratio of 1.06 and a beta of 1.16. 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 Inc. has a 1-year low of $146.32 and a 1-year high of $269.11. The business’s 50 day moving average is $172.00 and its 200-day moving average is $181.47.

Salesforce (NYSE:CRM) last issued its 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 during the quarter, compared to analyst estimates of $11.05 billion. Salesforce had a return on equity of 18.72% and a net margin of 18.73%.Salesforce’s revenue was up 13.3% on a year-over-year basis. During the same period in the prior year, the company posted $2.58 earnings per share. 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 predict that Salesforce Inc. will post 10.27 earnings per share for the current year.

Salesforce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Thursday, June 11th were paid a $0.44 dividend. The ex-dividend date was Thursday, June 11th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.9%. Salesforce’s dividend payout ratio is currently 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.