Pacer Advisors Inc. Buys 486,403 Shares of Salesforce Inc. $CRM

Pacer Advisors Inc. lifted its stake in Salesforce Inc. (NYSE:CRM) by 32.3% in the first quarter, Holdings Channel.com reports. The firm owned 1,991,616 shares of the CRM provider’s stock after buying an additional 486,403 shares during the period. Salesforce comprises about 0.6% of Pacer Advisors Inc.’s holdings, making the stock its 29th biggest position. Pacer Advisors Inc.’s holdings in Salesforce were worth $371,775,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of CRM. Fred Alger Management LLC lifted its position in Salesforce by 0.3% in the third quarter. Fred Alger Management LLC now owns 14,943 shares of the CRM provider’s stock worth $3,548,000 after buying an additional 45 shares during the last quarter. Richards Merrill & Peterson Inc. increased its position in Salesforce by 1.1% during the fourth quarter. Richards Merrill & Peterson Inc. now owns 4,239 shares of the CRM provider’s stock valued at $1,123,000 after acquiring an additional 46 shares during the last quarter. Wright Investors Service Inc. increased its position in Salesforce by 0.8% during the fourth quarter. Wright Investors Service Inc. now owns 6,186 shares of the CRM provider’s stock valued at $1,639,000 after acquiring an additional 47 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC raised its stake in shares of Salesforce by 6.9% in the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 745 shares of the CRM provider’s stock valued at $197,000 after acquiring an additional 48 shares during the period. Finally, Synergy Financial Group LTD lifted its holdings in shares of Salesforce by 2.4% in the 3rd quarter. Synergy Financial Group LTD now owns 2,035 shares of the CRM provider’s stock worth $482,000 after acquiring an additional 48 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Trading Up 0.2%

Shares of CRM opened at $184.34 on Monday. The firm has a market capitalization of $150.98 billion, a price-to-earnings ratio of 21.34, a PEG ratio of 1.00 and a beta of 1.18. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.79 and a quick ratio of 0.79. Salesforce Inc. has a 1-year low of $146.32 and a 1-year high of $269.11. The company has a 50-day moving average of $170.34 and a 200 day moving average of $184.49.

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

Salesforce Announces Dividend

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

Analyst Ratings Changes

A number of research firms recently commented on CRM. Canaccord Genuity Group reaffirmed a “buy” rating and set a $225.00 price target on shares of Salesforce in a research note on Tuesday, June 16th. Cantor Fitzgerald reissued an “overweight” rating and issued a $250.00 price objective on shares of Salesforce in a research report on Thursday, May 28th. KeyCorp downgraded shares of Salesforce from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, July 8th. B. Riley Financial boosted their target price on Salesforce from $205.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Finally, Phillip Securities downgraded Salesforce from a “buy” rating to a “hold” rating and reduced their price target for the stock from $253.00 to $166.00 in a report on Monday, June 29th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, sixteen have given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, Salesforce has a consensus rating of “Moderate Buy” and a consensus target price of $249.51.

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.