Private Wealth Partners LLC Sells 3,607 Shares of Salesforce Inc. $CRM

Private Wealth Partners LLC decreased its holdings in Salesforce Inc. (NYSE:CRM) by 19.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,782 shares of the CRM provider’s stock after selling 3,607 shares during the quarter. Private Wealth Partners LLC’s holdings in Salesforce were worth $2,759,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in CRM. Commonwealth Retirement Investments LLC bought a new position in Salesforce in the 4th quarter worth $25,000. Board of the Pension Protection Fund purchased a new stake in shares of Salesforce in the 4th quarter worth about $26,000. Key Capital Management INC bought a new stake in shares of Salesforce during the 4th quarter valued at about $26,000. Gilpin Wealth Management LLC bought a new stake in Salesforce during the 4th quarter valued at approximately $26,000. Finally, Legacy Bridge LLC purchased a new stake in Salesforce in the fourth quarter worth $27,000. Institutional investors own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Cantor Fitzgerald restated an “overweight” rating and issued a $250.00 price target on shares of Salesforce in a research note on Thursday, May 28th. Guggenheim raised Salesforce from a “neutral” rating to a “buy” rating and set a $228.00 price target on the stock in a report on Wednesday. The Goldman Sachs Group assumed coverage on Salesforce in a research report on Thursday, June 18th. They set a “neutral” rating on the stock. HSBC boosted their target price on Salesforce from $350.00 to $356.00 and gave the stock a “buy” rating in a research report on Friday, May 29th. Finally, Scotiabank cut shares of Salesforce from a “sector outperform” rating to a “sector perform” rating in a research note on Thursday, June 18th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, twelve have given a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $254.42.

Salesforce Stock Performance

Shares of CRM opened at $165.94 on Friday. The firm has a market capitalization of $135.90 billion, a P/E ratio of 19.21, a PEG ratio of 1.03 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 one year low of $146.32 and a one year high of $276.80. The business has a fifty day moving average of $173.23 and a 200 day moving average of $197.71.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, May 27th. The CRM provider reported $3.88 earnings per share 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 the consensus estimate 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 quarter in the prior year, the company earned $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, sell-side analysts anticipate that Salesforce Inc. will post 10.29 EPS for the current year.

Salesforce Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Thursday, June 11th were issued 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 1.1%. Salesforce’s dividend payout ratio (DPR) is presently 20.37%.

Salesforce declared that its Board of Directors has authorized a stock buyback program on Monday, March 16th that allows the company to buyback $25.00 billion in outstanding shares. This buyback authorization allows the CRM provider to reacquire up to 14.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

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.