Performance Wealth Partners LLC Takes $459,000 Position in Salesforce Inc. $CRM

Performance Wealth Partners LLC acquired a new position in Salesforce Inc. (NYSE:CRM) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 2,928 shares of the CRM provider’s stock, valued at approximately $459,000.

Other large investors also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its holdings in Salesforce by 13.7% in the fourth quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider’s stock valued at $8,582,000 after buying an additional 3,102 shares during the period. Revolve Wealth Partners LLC grew its holdings in Salesforce by 12.6% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,827 shares of the CRM provider’s stock worth $611,000 after acquiring an additional 205 shares during the period. Bison Wealth LLC raised its position in shares of Salesforce by 9.0% during the 4th quarter. Bison Wealth LLC now owns 2,234 shares of the CRM provider’s stock valued at $747,000 after acquiring an additional 184 shares during the last quarter. Sivia Capital Partners LLC raised its position in shares of Salesforce by 3.7% during the 2nd quarter. Sivia Capital Partners LLC now owns 2,958 shares of the CRM provider’s stock valued at $807,000 after acquiring an additional 106 shares during the last quarter. Finally, United Bank lifted its stake in shares of Salesforce by 5.2% in the 2nd quarter. United Bank now owns 10,198 shares of the CRM provider’s stock valued at $2,781,000 after purchasing an additional 500 shares during the period. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Stock Down 2.6%

Shares of CRM stock opened at $191.20 on Tuesday. Salesforce Inc. has a 12-month low of $146.32 and a 12-month 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 has a fifty day moving average of $171.58 and a 200-day moving average of $181.69. The company has a market capitalization of $156.59 billion, a price-to-earnings ratio of 22.13, a P/E/G ratio of 1.06 and a beta of 1.16.

Salesforce (NYSE:CRM) last issued 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. The company had revenue of $11.13 billion for 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%.The company’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period in the previous 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. As a group, equities research analysts predict that Salesforce Inc. will post 10.27 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders 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 dividend on an annualized basis and a yield of 0.9%. Salesforce’s dividend payout ratio is 20.37%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CRM. Sanford C. Bernstein decreased their price objective on Salesforce from $194.00 to $173.00 and set an “underperform” rating for the company in a research note on Thursday, May 28th. HSBC raised their target price on Salesforce from $350.00 to $356.00 and gave the stock a “buy” rating in a report on Friday, May 29th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Salesforce in a research note on Tuesday, July 21st. Roth Capital reiterated a “buy” rating and issued a $325.00 price target on shares of Salesforce in a research report on Thursday, May 28th. Finally, TD Cowen reissued a “buy” rating on shares of Salesforce in a research note on Friday, June 12th. Two investment 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 issued a Sell rating to the company’s stock. According to data from MarketBeat, Salesforce has an average rating of “Moderate Buy” and a consensus target price of $249.05.

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.