Danske Bank A S Makes New $161.16 Million Investment in Salesforce Inc. $CRM

Danske Bank A S bought a new stake in shares of Salesforce Inc. (NYSE:CRM) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 1,028,751 shares of the CRM provider’s stock, valued at approximately $161,164,000. Danske Bank A S owned about 0.13% of Salesforce at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Gables Capital Management Inc. purchased a new stake in Salesforce during the second quarter valued at $28,000. Wealthfront Advisers LLC purchased a new position in Salesforce in the second quarter worth about $14,197,000. First National Bank of Omaha purchased a new position in Salesforce in the second quarter worth about $12,060,000. Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of Salesforce during the 2nd quarter valued at about $109,000. Finally, Element Pointe Advisors LLC purchased a new stake in shares of Salesforce during the 2nd quarter valued at about $672,000. 80.43% of the stock is owned by institutional investors.

Salesforce Stock Up 2.8%

CRM stock opened at $196.28 on Wednesday. The business’s 50-day moving average price is $172.00 and its 200-day moving average price is $181.47. The stock has a market cap of $160.76 billion, a P/E ratio of 22.72, a PEG ratio of 1.06 and a beta of 1.16. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.15. Salesforce Inc. has a twelve month low of $146.32 and a twelve month high of $269.11.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, May 27th. The CRM provider reported $3.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.13 by $0.75. Salesforce had a net margin of 18.73% and a return on equity of 18.72%. The company had revenue of $11.13 billion during the quarter, compared to analyst estimates of $11.05 billion. During the same period in the prior year, the firm posted $2.58 EPS. The firm’s quarterly revenue was up 13.3% compared to the same quarter last year. 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, equities research analysts forecast 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. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.9%. Salesforce’s dividend payout ratio is 20.37%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CRM shares. TD Cowen reiterated a “buy” rating on shares of Salesforce in a research note on Friday, June 12th. The Goldman Sachs Group started coverage on shares of Salesforce in a research report on Thursday, June 18th. They set a “neutral” rating for the company. HC Wainwright cut shares of Salesforce to a “negative” rating in a report on Thursday, June 18th. UBS Group increased their price target on shares of Salesforce from $185.00 to $210.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 12th. Finally, Royal Bank Of Canada cut shares of Salesforce from a “sector perform” rating to a “sector perform” rating in a research note on Wednesday, July 1st. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, eighteen have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and a consensus target price of $249.49.

About Salesforce

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.