Mitsubishi UFJ Asset Management Co. Ltd. Invests $325.64 Million in Salesforce Inc. $CRM

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Salesforce Inc. (NYSE:CRM) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,078,620 shares of the CRM provider’s stock, valued at approximately $325,637,000. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.25% of Salesforce as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. began coverage on shares of Salesforce in a research note on Thursday, August 13th. They issued an “overweight” rating and a $250.00 target price on the stock. The Goldman Sachs Group began coverage on Salesforce in a report on Thursday, June 18th. They issued a “neutral” rating for the company. Bank of America started coverage on Salesforce in a research note on Monday, May 18th. They issued an “underperform” rating and a $160.00 target price for the company. Royal Bank Of Canada lowered Salesforce from a “sector perform” rating to a “sector perform” rating in a report on Wednesday, July 1st. Finally, Monness Crespi & Hardt upped their price objective on shares of Salesforce from $200.00 to $222.00 and gave the company a “buy” rating in a report on Thursday, August 13th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, seventeen have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus price target of $249.05.

Salesforce Stock Performance

Shares of Salesforce stock opened at $191.20 on Tuesday. The firm has a market cap of $156.59 billion, a PE ratio of 22.13, a price-to-earnings-growth ratio of 1.06 and a beta of 1.16. 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 Inc. has a 52 week low of $146.32 and a 52 week high of $269.11. The business’s fifty day simple moving average is $171.58 and its 200-day simple moving average is $181.69.

Salesforce (NYSE:CRM) last issued 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. Salesforce had a net margin of 18.73% and a return on equity of 18.72%. The firm had revenue of $11.13 billion for the quarter, compared to analyst estimates of $11.05 billion. During the same period in the previous year, the firm earned $2.58 EPS. Salesforce’s revenue was up 13.3% on a year-over-year basis. 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 analysts forecast that Salesforce Inc. will post 10.27 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Thursday, June 11th were issued a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Thursday, June 11th. Salesforce’s dividend payout ratio is currently 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.