Parallel Advisors LLC Has $11.23 Million Stock Position in Salesforce Inc. $CRM

Parallel Advisors LLC lowered its position in Salesforce Inc. (NYSE:CRM) by 8.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,147 shares of the CRM provider’s stock after selling 5,316 shares during the period. Parallel Advisors LLC’s holdings in Salesforce were worth $11,228,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Commonwealth Retirement Investments LLC bought a new stake in shares of Salesforce in the fourth quarter worth about $25,000. Key Capital Management INC bought a new position in shares of Salesforce during the 4th quarter valued at about $26,000. Gilpin Wealth Management LLC bought a new position in shares of Salesforce during the 4th quarter valued at about $26,000. Legacy Bridge LLC acquired a new position in shares of Salesforce in the 4th quarter valued at approximately $27,000. Finally, Costello Asset Management INC grew its position in shares of Salesforce by 410.3% in the 1st quarter. Costello Asset Management INC now owns 148 shares of the CRM provider’s stock valued at $28,000 after purchasing an additional 119 shares during the period. 80.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Wolfe Research downgraded shares of Salesforce from an “outperform” rating to a “hold” rating in a report on Wednesday, July 1st. Barclays raised shares of Salesforce from an “overweight” rating to an “overweight” rating in a research report on Thursday, June 18th. The Goldman Sachs Group initiated coverage on shares of Salesforce in a report on Thursday, June 18th. They set a “neutral” rating on the stock. Susquehanna initiated coverage on shares of Salesforce in a research note on Wednesday, July 1st. They issued a “neutral” rating for the company. Finally, Monness Crespi & Hardt upgraded Salesforce from a “neutral” rating to a “buy” rating and set a $200.00 target price for the company in a report on Thursday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, fifteen have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Salesforce has a consensus rating of “Moderate Buy” and a consensus target price of $254.42.

Salesforce Price Performance

Shares of NYSE CRM opened at $171.20 on Monday. 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 business has a 50-day moving average of $170.64 and a 200-day moving average of $190.67. The stock has a market capitalization of $140.21 billion, a price-to-earnings ratio of 19.82, a PEG ratio of 0.92 and a beta of 1.18. Salesforce Inc. has a fifty-two week low of $146.32 and a fifty-two week high of $274.00.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, May 27th. The CRM provider reported $3.88 earnings per share (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 business had revenue of $11.13 billion for the quarter, compared to analyst estimates of $11.05 billion. During the same quarter in the prior year, the company posted $2.58 earnings per share. Salesforce’s revenue 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. As a group, sell-side analysts predict that Salesforce Inc. will post 10.29 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Thursday, June 11th were issued a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Thursday, June 11th. Salesforce’s dividend payout ratio is presently 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.