Tiemann Investment Advisors LLC Purchases New Shares in Salesforce Inc. $CRM

Tiemann Investment Advisors LLC acquired a new stake in Salesforce Inc. (NYSE:CRM) in the second quarter, Holdings Channel reports. The institutional investor acquired 8,755 shares of the CRM provider’s stock, valued at approximately $1,372,000.

Several other hedge funds have also modified their holdings of CRM. Commonwealth Retirement Investments LLC purchased a new position in shares of Salesforce in the 4th quarter valued at about $25,000. Gilpin Wealth Management LLC purchased a new position in Salesforce during the fourth quarter worth approximately $26,000. Birchwood Financial Partners Inc. acquired a new stake in Salesforce in the fourth quarter valued at approximately $28,000. Swiss RE Ltd. acquired a new stake in Salesforce in the fourth quarter valued at approximately $28,000. Finally, Dogwood Wealth Management LLC increased its position in shares of Salesforce by 285.7% in the fourth quarter. Dogwood Wealth Management LLC now owns 108 shares of the CRM provider’s stock valued at $29,000 after buying an additional 80 shares in the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on CRM shares. KeyCorp lowered Salesforce from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, July 8th. Needham & Company LLC reissued a “buy” rating on shares of Salesforce in a report on Tuesday, June 16th. Citigroup raised shares of Salesforce from a “hold” rating to a “buy” rating in a report on Wednesday, July 1st. Sanford C. Bernstein dropped their target price on shares of Salesforce from $194.00 to $173.00 and set an “underperform” rating on the stock in a research report on Thursday, May 28th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $250.00 target price on shares of Salesforce in a research note on Thursday, May 28th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, seventeen have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $249.05.

Salesforce Stock Down 2.6%

Shares of CRM opened at $191.20 on Tuesday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.79 and a current ratio of 0.79. Salesforce Inc. has a one year low of $146.32 and a one year high of $269.11. The stock has a market capitalization of $156.59 billion, a price-to-earnings ratio of 22.13, a PEG ratio of 1.06 and a beta of 1.16. The stock has a 50 day moving average price of $171.58 and a 200 day moving average price of $181.69.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, May 27th. The CRM provider reported $3.88 EPS for the quarter, beating the consensus estimate of $3.13 by $0.75. The firm had revenue of $11.13 billion during 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%.The firm’s revenue was up 13.3% compared to the same quarter last year. During the same period in the prior 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. Equities research analysts forecast that Salesforce Inc. will post 10.27 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Thursday, June 11th were given a dividend of $0.44 per share. The ex-dividend date was Thursday, June 11th. This represents a $1.76 dividend on an annualized basis and a yield of 0.9%. Salesforce’s payout ratio is presently 20.37%.

Salesforce 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.