KMG Fiduciary Partners LLC Sells 12,231 Shares of Salesforce Inc. $CRM

KMG Fiduciary Partners LLC cut its holdings in Salesforce Inc. (NYSE:CRM) by 40.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,239 shares of the CRM provider’s stock after selling 12,231 shares during the period. KMG Fiduciary Partners LLC’s holdings in Salesforce were worth $2,857,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Marquette Asset Management LLC grew its stake in Salesforce by 707.4% during the second quarter. Marquette Asset Management LLC now owns 218 shares of the CRM provider’s stock valued at $34,000 after acquiring an additional 191 shares in the last quarter. Wealthcare Advisory Partners LLC grew its position in shares of Salesforce by 36.7% during the second quarter. Wealthcare Advisory Partners LLC now owns 17,364 shares of the CRM provider’s stock valued at $2,720,000 after purchasing an additional 4,664 shares in the last quarter. Financial Management Professionals Inc. increased its holdings in shares of Salesforce by 25.9% in the second quarter. Financial Management Professionals Inc. now owns 491 shares of the CRM provider’s stock worth $77,000 after purchasing an additional 101 shares during the last quarter. Revolve Wealth Partners LLC lifted its position in shares of Salesforce by 42.8% in the second quarter. Revolve Wealth Partners LLC now owns 2,254 shares of the CRM provider’s stock worth $353,000 after buying an additional 676 shares in the last quarter. Finally, Atlas Brown Inc. grew its holdings in Salesforce by 5.8% during the 2nd quarter. Atlas Brown Inc. now owns 7,949 shares of the CRM provider’s stock valued at $1,245,000 after buying an additional 436 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CRM has been the topic of several recent research reports. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Salesforce in a report on Tuesday, July 21st. DA Davidson lowered their price objective on shares of Salesforce from $200.00 to $175.00 and set a “neutral” rating for the company in a research report on Thursday, May 28th. Phillip Securities cut shares of Salesforce from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $253.00 to $166.00 in a research note on Monday, June 29th. Daiwa Securities Group reduced their target price on shares of Salesforce from $295.00 to $280.00 and set a “buy” rating on the stock in a report on Tuesday, June 2nd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $250.00 price target on shares of Salesforce in a report on Thursday, May 28th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, sixteen have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $249.51.

Salesforce Stock Performance

CRM stock opened at $197.32 on Tuesday. Salesforce Inc. has a twelve month low of $146.32 and a twelve month high of $269.11. The firm has a market cap of $161.61 billion, a price-to-earnings ratio of 22.84, a PEG ratio of 1.04 and a beta of 1.16. The business’s fifty day simple moving average is $170.99 and its two-hundred day simple moving average is $182.79. 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 (NYSE:CRM) last released its quarterly earnings data on Wednesday, May 27th. The CRM provider reported $3.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.13 by $0.75. The company had revenue of $11.13 billion during the quarter, compared to analysts’ expectations of $11.05 billion. Salesforce had a net margin of 18.73% and a return on equity of 18.72%. The firm’s quarterly revenue was up 13.3% on a year-over-year basis. During the same period in the previous year, the company 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. Analysts predict that Salesforce Inc. will post 10.27 earnings per share for the current year.

Salesforce Dividend Announcement

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 0.9%. Salesforce’s dividend payout ratio is 20.37%.

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.