Salesforce Spent a Record $27.1 Billion on Buybacks in One Quarter. Here Is Why That Signal Matters.
Salesforce's aggressive buyback strategy has been vindicated.
Overview
Salesforce (NYSE: CRM) has been a battleground stock over the last year. While the company's position in the customer relationship management space has generally continued to look quite strong, some investors have worried about the potential for its business to be disrupted by artificial intelligence.
Partially in response to valuation pressures affecting its stock, the company has moved forward with an aggressive share repurchasing program. In this year's first quarter, the software specialist carried out a record $27.1 billion in buybacks. On the heels of the software-as-a-service (SaaS) company's second-quarter report, this looks like a great move.
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Originally published at www.fool.com.