Canvas Wealth Advisors LLC Makes New Investment in Salesforce Inc. $CRM

Canvas Wealth Advisors LLC purchased a new stake in shares of Salesforce Inc. (NYSE:CRM) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 13,416 shares of the CRM provider’s stock, valued at approximately $2,103,000.

Other hedge funds have also modified their holdings of the company. Temasek Holdings Private Ltd increased its stake in Salesforce by 3.7% in the 4th quarter. Temasek Holdings Private Ltd now owns 683,790 shares of the CRM provider’s stock worth $181,143,000 after buying an additional 24,332 shares in the last quarter. SFE Investment Counsel lifted its position in shares of 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 acquiring an additional 7,871 shares in the last quarter. Fluent Financial LLC bought a new position in shares of Salesforce in the second quarter worth about $2,265,000. Secured Retirement Advisors LLC bought a new position in shares of Salesforce in the first quarter worth about $1,004,000. Finally, Janus Henderson Group PLC grew its position in shares of Salesforce by 2.5% during the first quarter. Janus Henderson Group PLC now owns 127,739 shares of the CRM provider’s stock worth $23,846,000 after purchasing an additional 3,125 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors.

Salesforce Trading Down 0.1%

CRM stock opened at $197.35 on Wednesday. The firm has a fifty day moving average price of $170.92 and a 200 day moving average price of $182.62. Salesforce Inc. has a fifty-two week low of $146.32 and a fifty-two week high of $269.11. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.79 and a current ratio of 0.79. The firm has a market cap of $161.63 billion, a PE ratio of 22.84, a price-to-earnings-growth ratio of 1.07 and a beta of 1.16.

Salesforce (NYSE:CRM) last announced its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $11.05 billion. Salesforce had a net margin of 18.73% and a return on equity of 18.72%. Salesforce’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $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. Sell-side analysts anticipate that Salesforce Inc. will post 10.27 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The firm 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 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 20.37%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. CLSA assumed coverage on Salesforce in a research note on Monday, July 20th. They set a “hold” rating and a $165.00 target price on the stock. Daiwa Securities Group dropped their price target on Salesforce from $295.00 to $280.00 and set a “buy” rating for the company in a research note on Tuesday, June 2nd. UBS Group reaffirmed a “buy” rating on shares of Salesforce in a report on Tuesday. B. Riley Financial lifted their price objective on shares of Salesforce from $205.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Finally, Citigroup raised shares of Salesforce from a “hold” rating to a “buy” rating in a report on Wednesday, July 1st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, fifteen have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $249.51.

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.