Urban Wealth Management LLC Trims Stock Holdings in Salesforce Inc. $CRM

Urban Wealth Management LLC reduced its holdings in shares of Salesforce Inc. (NYSE:CRM) by 82.8% in the first quarter, according to its most recent filing with the SEC. The fund owned 1,192 shares of the CRM provider’s stock after selling 5,726 shares during the period. Urban Wealth Management LLC’s holdings in Salesforce were worth $223,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CRM. Commonwealth Retirement Investments LLC bought a new position in Salesforce in the 4th quarter worth about $25,000. Board of the Pension Protection Fund bought a new stake in shares of Salesforce during the fourth quarter valued at approximately $26,000. Key Capital Management INC bought a new stake in shares of Salesforce during the fourth quarter valued at approximately $26,000. Gilpin Wealth Management LLC purchased a new stake in shares of Salesforce in the fourth quarter valued at approximately $26,000. Finally, Legacy Bridge LLC purchased a new stake in shares of Salesforce in the fourth quarter valued at approximately $27,000. Institutional investors own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on CRM shares. Scotiabank downgraded Salesforce from a “sector outperform” rating to a “sector perform” rating in a report on Thursday, June 18th. Royal Bank Of Canada reiterated a “neutral” rating on shares of Salesforce in a report on Thursday, June 4th. Northland Securities dropped their price target on Salesforce from $267.00 to $229.00 and set a “market perform” rating on the stock in a research report on Tuesday, March 10th. Sanford C. Bernstein cut their price target on Salesforce from $194.00 to $173.00 and set an “underperform” rating on the stock in a research note on Thursday, May 28th. Finally, Stifel Nicolaus decreased their price objective on Salesforce from $300.00 to $250.00 and set a “buy” rating for the company in a report on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, eleven have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and an average price target of $257.61.

Salesforce Stock Down 1.5%

Salesforce stock opened at $150.39 on Friday. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.15. The firm has a market cap of $123.17 billion, a P/E ratio of 17.41, a P/E/G ratio of 0.95 and a beta of 1.16. The business has a fifty day moving average of $175.95 and a two-hundred day moving average of $201.50. Salesforce Inc. has a twelve month low of $146.32 and a twelve month high of $276.80.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Wednesday, May 27th. The CRM provider reported $3.88 EPS for the quarter, topping the consensus estimate of $3.13 by $0.75. Salesforce had a return on equity of 18.72% and a net margin of 18.73%.The firm had revenue of $11.13 billion during the quarter, compared to analyst estimates of $11.05 billion. During the same period in the previous year, the company posted $2.58 EPS. The business’s revenue for the quarter was up 13.3% compared to the same quarter last year. 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, analysts forecast that Salesforce Inc. will post 10.29 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Thursday, June 11th will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Thursday, June 11th. Salesforce’s dividend payout ratio (DPR) is currently 20.37%.

Salesforce announced that its board has approved a share buyback plan on Monday, March 16th that permits the company to buyback $25.00 billion in shares. This buyback authorization permits the CRM provider to reacquire up to 14.1% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Salesforce Company 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.