36,566 Shares in Salesforce Inc. $CRM Acquired by Perigon Wealth Management LLC

Perigon Wealth Management LLC bought a new stake in Salesforce Inc. (NYSE:CRM) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 36,566 shares of the CRM provider’s stock, valued at approximately $5,728,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Temasek Holdings Private Ltd lifted its holdings in Salesforce by 3.7% in the fourth quarter. Temasek Holdings Private Ltd now owns 683,790 shares of the CRM provider’s stock valued at $181,143,000 after acquiring an additional 24,332 shares during the last quarter. SFE Investment Counsel increased its stake in Salesforce by 82.7% during the fourth quarter. SFE Investment Counsel now owns 17,394 shares of the CRM provider’s stock worth $4,608,000 after acquiring an additional 7,871 shares during the last quarter. Fluent Financial LLC purchased a new stake in Salesforce in the second quarter valued at $2,265,000. Secured Retirement Advisors LLC acquired a new position in shares of Salesforce in the 1st quarter valued at $1,004,000. Finally, Janus Henderson Group PLC grew its holdings in shares of Salesforce by 2.5% during the 1st quarter. Janus Henderson Group PLC now owns 127,739 shares of the CRM provider’s stock worth $23,846,000 after purchasing an additional 3,125 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Trading Down 2.6%

Shares of CRM stock opened at $191.20 on Tuesday. Salesforce Inc. has a fifty-two week low of $146.32 and a fifty-two week high of $269.11. The company has a 50 day moving average price of $171.58 and a 200 day moving average price of $181.69. The stock has a market capitalization of $156.59 billion, a P/E ratio of 22.13, a price-to-earnings-growth ratio of 1.06 and a beta of 1.16. 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 (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 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 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 prior year, the business 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 predict that Salesforce Inc. will post 10.27 EPS for the current fiscal year.

Salesforce Announces Dividend

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

Analyst Upgrades and Downgrades

CRM has been the topic of several research analyst reports. Wall Street Zen lowered shares of Salesforce from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Wolfe Research downgraded shares of Salesforce from an “outperform” rating to a “hold” rating in a research note on Wednesday, July 1st. Sanford C. Bernstein lowered their price objective on shares of Salesforce from $194.00 to $173.00 and set an “underperform” rating for the company in a research report on Thursday, May 28th. Wells Fargo & Company lifted their target price on shares of Salesforce from $200.00 to $205.00 and gave the company an “equal weight” rating in a report on Wednesday, August 12th. Finally, BTIG Research reissued a “buy” rating and issued a $255.00 target price on shares of Salesforce in a research report on Tuesday, May 26th. Two investment 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 issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $249.05.

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.