23,657 Shares in Salesforce Inc. $CRM Purchased by MidFirst Bank

MidFirst Bank purchased a new stake in shares of Salesforce Inc. (NYSE:CRM) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 23,657 shares of the CRM provider’s stock, valued at approximately $3,706,000.

Several other large investors have also recently added to or reduced their stakes in the company. Commonwealth Retirement Investments LLC bought a new position in shares of Salesforce in the fourth quarter valued at approximately $25,000. Gilpin Wealth Management LLC acquired a new stake in Salesforce during the 4th quarter valued at $26,000. Persistent Asset Partners Ltd bought a new position in Salesforce in the 2nd quarter valued at $27,000. Costello Asset Management INC boosted its stake in Salesforce by 410.3% in the first quarter. Costello Asset Management INC now owns 148 shares of the CRM provider’s stock worth $28,000 after purchasing an additional 119 shares in the last quarter. Finally, Birchwood Financial Partners Inc. bought a new stake in shares of Salesforce during the fourth quarter worth $28,000. 80.43% of the stock is owned by institutional investors.

Salesforce Trading Down 2.6%

CRM opened at $191.20 on Tuesday. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.79 and a quick ratio of 0.79. The company has a market cap of $156.59 billion, a price-to-earnings ratio of 22.13, a price-to-earnings-growth ratio of 1.06 and a beta of 1.16. The firm has a 50 day simple moving average of $171.58 and a 200 day simple moving average of $181.69. Salesforce Inc. has a fifty-two week low of $146.32 and a fifty-two week high of $269.11.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, May 27th. The CRM provider reported $3.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $11.05 billion. During the same period last year, the firm earned $2.58 earnings per share. The business’s revenue for the quarter 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. On average, sell-side analysts anticipate that Salesforce Inc. will post 10.27 earnings per share for the current year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Thursday, June 11th were given 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 (DPR) is currently 20.37%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Citizens Jmp reissued a “market outperform” rating and set a $315.00 price objective on shares of Salesforce in a report on Thursday, May 28th. Scotiabank lowered shares of Salesforce from a “sector outperform” rating to a “sector perform” rating in a report on Thursday, June 18th. B. Riley Financial boosted their price objective on shares of Salesforce from $205.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Wall Street Zen downgraded Salesforce from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Finally, Guggenheim upgraded Salesforce from a “neutral” rating to a “buy” rating and set a $228.00 price objective on the stock in a research report on Wednesday, July 1st. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have issued 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 presently has an average rating of “Moderate Buy” and a consensus price target of $249.05.

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.