Salesforce Inc. $CRM Shares Sold by Meyer Handelman Co.

Meyer Handelman Co. trimmed its position in shares of Salesforce Inc. (NYSE:CRM) by 47.9% during the first quarter, Holdings Channel reports. The firm owned 14,710 shares of the CRM provider’s stock after selling 13,506 shares during the quarter. Meyer Handelman Co.’s holdings in Salesforce were worth $2,746,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

A number of brokerages have recently weighed in on CRM. Wall Street Zen raised shares of Salesforce from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. Scotiabank lowered Salesforce from a “sector outperform” rating to a “sector perform” rating in a research note on Thursday, June 18th. HSBC increased their target price on Salesforce from $350.00 to $356.00 and gave the company a “buy” rating in a report on Friday, May 29th. Roth Mkm reissued a “buy” rating and set a $325.00 price target on shares of Salesforce in a research report on Thursday, May 28th. Finally, BTIG Research reissued a “buy” rating and issued a $255.00 price target on shares of Salesforce in a report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, eleven have issued a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $257.61.

Salesforce Stock Performance

NYSE:CRM opened at $150.39 on Friday. The firm has a 50 day simple moving average of $175.95 and a 200-day simple moving average of $201.50. 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 firm has a market cap of $123.17 billion, a PE ratio of 17.41, a P/E/G ratio of 0.95 and a beta of 1.16. Salesforce Inc. has a 1-year low of $146.32 and a 1-year high of $276.80.

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 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 business had revenue of $11.13 billion for the quarter, compared to the consensus estimate of $11.05 billion. During the same quarter in the prior year, the firm posted $2.58 earnings per share. The company’s quarterly revenue 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, equities analysts expect that Salesforce Inc. will post 10.29 EPS for the current year.

Salesforce Dividend Announcement

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

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

Salesforce 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.