Investment management firm Vulcan Value Partners recently released its first quarter 2024 investor letter. A copy of the letter can be downloaded here. The company is satisfied with its first quarter results. All strategic composites generated positive returns, with many outperforming their respective benchmarks. For the quarter, the fund’s Large Cap Total Return excluding fees and expenses was 12.0%, Small Cap Total Return was 0.2% net, Focus Compound Return was 12.7% net, and Focus Plus Compound Return was 12.9% net. %, and the all-cap compound return was 12.9%. Net 6.6%. Check out the fund’s top five holdings to learn about the best stocks for 2023.
Vulcan Value Partners featured stocks such as Salesforce Inc. (NYSE:CRM) in its Q1 2024 investor letter. Salesforce, Inc. (NYSE:CRM), headquartered in San Francisco, California, designs and develops cloud-based software for customer relationship management. On May 9, 2024, Salesforce, Inc. (NYSE: CRM) stock closed at $275.17 per share. His 1-month return for Salesforce, Inc. (NYSE: CRM) is -8.02%, and the company’s stock has increased his 35.24% in value over the past 52 weeks. Salesforce, Inc. (NYSE:CRM) has a market capitalization of $266.915 billion.
Vulcan Value Partners said the following about Salesforce, Inc. (NYSE:CRM) in its Q1 2024 investor letter:
”Salesforce Co., Ltd. (NYSE:CRM) is the world’s leading SaaS vendor of customer relationship management (CRM) and sales force automation (SFA) software. FY2024 free cash flow significantly exceeded expectations, and Salesforce guided his FY2025 free cash flow growth to be very strong again. The company also pointed to several things that could accelerate future growth, including pricing, artificial intelligence, and a better purchasing environment. ”
A customer service team in an office environment who uses the company’s Customer 360 platform to communicate with customers.
Salesforce, Inc. (NYSE:CRM) ranks #11 on the list of 30 most popular stocks among hedge funds. According to our database, 131 hedge fund portfolios held Salesforce, Inc. (NYSE:CRM) at the end of the fourth quarter, compared to 122 in the prior quarter. Ken Fisher’s Fisher Asset Management is the largest shareholder in Salesforce Inc. (NYSE:CRM), with $3.9 billion worth of stock in the company.
We previously covered Salesforce, Inc. (NYSE:CRM) in another article and shared a list of the best artificial intelligence stocks to buy from Wall Street analysts. Additionally, for investor letters from hedge funds and other leading investors, please visit our Hedge Fund Investor Letters Q1 2024 page.
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Disclosure: None. This article was originally published on Insider Monkey.
