Moran Wealth Management LLC Sells 10,009 Shares of Salesforce Inc. $CRM

Moran Wealth Management LLC cut its holdings in shares of Salesforce Inc. (NYSE:CRM) by 26.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,788 shares of the CRM provider’s stock after selling 10,009 shares during the period. Moran Wealth Management LLC’s holdings in Salesforce were worth $5,187,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of CRM. Temasek Holdings Private Ltd boosted its stake in Salesforce by 3.7% during the 4th quarter. Temasek Holdings Private Ltd now owns 683,790 shares of the CRM provider’s stock worth $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% in the fourth quarter. SFE Investment Counsel now owns 17,394 shares of the CRM provider’s stock valued at $4,608,000 after purchasing an additional 7,871 shares in the last quarter. Van ECK Associates Corp increased its stake in Salesforce by 8.9% in the third quarter. Van ECK Associates Corp now owns 1,299,513 shares of the CRM provider’s stock valued at $307,984,000 after purchasing an additional 106,107 shares in the last quarter. Secured Retirement Advisors LLC acquired a new stake in Salesforce in the first quarter worth $1,004,000. Finally, Eminence Capital LP raised its holdings in Salesforce by 5.6% in the third quarter. Eminence Capital LP now owns 830,536 shares of the CRM provider’s stock worth $196,837,000 after purchasing an additional 43,888 shares during the period. Institutional investors own 80.43% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CRM shares. TD Cowen reissued a “buy” rating on shares of Salesforce in a report on Friday, June 12th. The Goldman Sachs Group started coverage on Salesforce in a research note on Thursday, June 18th. They set a “neutral” rating on the stock. KeyCorp reduced their target price on Salesforce from $300.00 to $290.00 and set an “overweight” rating on the stock in a report on Thursday, May 28th. Scotiabank cut Salesforce from a “sector outperform” rating to a “sector perform” rating in a research note on Thursday, June 18th. Finally, Roth Mkm restated a “buy” rating and issued a $325.00 price target on shares of Salesforce in a report on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, twelve have issued a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $254.42.

Salesforce Stock Performance

CRM opened at $165.94 on Friday. The company has a market capitalization of $135.90 billion, a price-to-earnings ratio of 19.21, a P/E/G ratio of 1.03 and a beta of 1.18. The business’s 50-day moving average price is $173.23 and its two-hundred day moving average price is $197.71. Salesforce Inc. has a 1 year low of $146.32 and a 1 year high of $276.80. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.79 and a quick ratio of 0.79.

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

Salesforce announced that its Board of Directors has approved a share buyback program on Monday, March 16th that allows the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization allows the CRM provider to reacquire up to 14.1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Thursday, June 11th were paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Thursday, June 11th. Salesforce’s dividend payout ratio (DPR) 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.