Sigma Planning Corp Sells 6,346 Shares of Salesforce Inc. $CRM

Sigma Planning Corp reduced its position in shares of Salesforce Inc. (NYSE:CRM) by 26.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 17,374 shares of the CRM provider’s stock after selling 6,346 shares during the quarter. Sigma Planning Corp’s holdings in Salesforce were worth $3,243,000 as of its most recent filing with the Securities and Exchange Commission.

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

Salesforce Stock Down 0.1%

Shares of Salesforce stock opened at $167.32 on Thursday. The company has a market capitalization of $137.03 billion, a P/E ratio of 19.37, a price-to-earnings-growth ratio of 0.90 and a beta of 1.18. 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 $171.12 and a two-hundred day moving average of $191.99. Salesforce Inc. has a 1 year low of $146.32 and a 1 year high of $274.00.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Wednesday, May 27th. The CRM provider reported $3.88 earnings per share for the quarter, beating 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 analysts’ expectations of $11.05 billion. During the same quarter in the previous year, the business posted $2.58 EPS. Salesforce’s revenue for the quarter 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, equities analysts predict that Salesforce Inc. will post 10.29 EPS for the current year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Thursday, June 11th were paid 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 yield of 1.1%. Salesforce’s payout ratio is presently 20.37%.

Analyst Ratings Changes

A number of equities analysts have issued reports on CRM shares. KeyCorp cut Salesforce from an “overweight” rating to a “sector weight” rating in a report on Wednesday, July 8th. The Goldman Sachs Group assumed coverage on Salesforce in a research note on Thursday, June 18th. They issued a “neutral” rating for the company. Canaccord Genuity Group reissued a “buy” rating and set a $225.00 price objective on shares of Salesforce in a research note on Tuesday, June 16th. Bank of America initiated coverage on shares of Salesforce in a report on Monday, May 18th. They set an “underperform” rating and a $160.00 price objective for the company. Finally, Truist Financial downgraded shares of Salesforce from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, fourteen have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and a consensus price target of $254.42.

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.