3,189 Shares in Salesforce Inc. $CRM Acquired by Texas Capital Bank Wealth Management Services Inc

Texas Capital Bank Wealth Management Services Inc purchased a new stake in Salesforce Inc. (NYSE:CRM) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 3,189 shares of the CRM provider’s stock, valued at approximately $500,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CRM. Commonwealth Retirement Investments LLC acquired a new position in shares of Salesforce in the 4th quarter valued at $25,000. Gilpin Wealth Management LLC acquired a new stake in Salesforce during the 4th quarter worth $26,000. Birchwood Financial Partners Inc. purchased a new stake in Salesforce in the fourth quarter valued at $28,000. Swiss RE Ltd. purchased a new stake in Salesforce in the fourth quarter valued at $28,000. Finally, Dogwood Wealth Management LLC boosted its stake in Salesforce by 285.7% in the fourth quarter. Dogwood Wealth Management LLC now owns 108 shares of the CRM provider’s stock valued at $29,000 after acquiring an additional 80 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Price Performance

Shares of CRM opened at $191.20 on Tuesday. 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 Inc. has a fifty-two week low of $146.32 and a fifty-two week high of $269.11. The firm has a 50-day simple moving average of $171.58 and a 200-day simple moving average of $181.69. The company has a market capitalization 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.

Salesforce (NYSE:CRM) last issued its quarterly earnings results 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. The firm had revenue of $11.13 billion for 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%.The firm’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $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. On average, equities research analysts anticipate that Salesforce Inc. will post 10.27 earnings per share for the current year.

Salesforce Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on CRM shares. Royal Bank Of Canada lowered Salesforce from a “sector perform” rating to a “sector perform” rating in a report on Wednesday, July 1st. Piper Sandler downgraded Salesforce from an “overweight” rating to a “neutral” rating in a report on Thursday, May 28th. Wall Street Zen cut Salesforce from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Daiwa Securities Group cut their price target on Salesforce from $295.00 to $280.00 and set a “buy” rating on the stock in a research report on Tuesday, June 2nd. Finally, HC Wainwright downgraded Salesforce to a “negative” rating in a report on Thursday, June 18th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have assigned 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 stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $249.05.

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.