BDF Gestion bought a new stake in shares of Salesforce Inc. (NYSE:CRM – Free Report) in the 3rd quarter, HoldingsChannel reports. The firm bought 12,221 shares of the CRM provider’s stock, valued at approximately $2,806,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of CRM. ABS Direct Equity Fund LLC bought a new position in shares of Salesforce in the 2nd quarter worth $25,000. Manning & Napier Advisors LLC bought a new stake in shares of Salesforce during the 2nd quarter worth $26,000. Persistent Asset Partners Ltd bought a new stake in shares of Salesforce during the 2nd quarter worth $27,000. Costello Asset Management INC lifted its holdings in shares of Salesforce by 410.3% during the 1st quarter. Costello Asset Management INC now owns 148 shares of the CRM provider’s stock worth $28,000 after acquiring an additional 119 shares during the last quarter. Finally, Gables Capital Management Inc. purchased a new position in Salesforce in the second quarter worth $28,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.
Analysts Set New Price Targets
A number of research analysts recently commented on the company. Monness Crespi & Hardt increased their target price on Salesforce from $222.00 to $266.00 and gave the company a “buy” rating in a research note on Thursday, August 27th. JPMorgan Chase & Co. lifted their price target on Salesforce from $250.00 to $265.00 and gave the stock an “overweight” rating in a research note on Thursday, August 27th. Deutsche Bank Aktiengesellschaft started coverage on Salesforce in a research note on Monday, October 12th. They set a “buy” rating for the company. Morgan Stanley set a $315.00 price objective on Salesforce in a report on Wednesday, September 2nd. Finally, Wolfe Research upgraded Salesforce from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 27th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $278.40.
Read Our Latest Stock Analysis on Salesforce
Salesforce Trading Down 0.2%
Salesforce stock traded down $0.58 during mid-day trading on Monday, hitting $240.12. The company’s stock had a trading volume of 2,149,416 shares, compared to its average volume of 13,492,922. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a market cap of $197.62 billion, a price-to-earnings ratio of 21.89, a price-to-earnings-growth ratio of 1.09 and a beta of 1.26. The business has a 50 day moving average price of $231.47 and a 200-day moving average price of $194.89. Salesforce Inc. has a 12 month low of $146.32 and a 12 month high of $269.11.
Salesforce (NYSE:CRM – Get Free Report) last announced its quarterly earnings data on Wednesday, August 26th. The CRM provider reported $5.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.27 by $2.63. The firm had revenue of $11.35 billion for the quarter, compared to analysts’ expectations of $11.33 billion. Salesforce had a return on equity of 24.90% and a net margin of 21.99%. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period last year, the firm earned $2.91 earnings per share. Salesforce has set its FY 2027 guidance at 16.670-16.710 EPS and its Q3 2027 guidance at 3.420-3.440 EPS. As a group, analysts forecast that Salesforce Inc. will post 12.82 EPS for the current year.
Salesforce Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, October 8th. Investors of record on Thursday, September 17th were issued a dividend of $0.44 per share. The ex-dividend date was Thursday, September 17th. This represents a $1.76 annualized dividend and a yield of 0.7%. Salesforce’s dividend payout ratio is currently 16.04%.
Insider Activity at Salesforce
In related news, Director David Blair Kirk purchased 4,176 shares of Salesforce stock in a transaction that occurred on Friday, September 18th. The shares were acquired at an average cost of $239.33 per share, for a total transaction of $999,442.08. Following the transaction, the director directly owned 18,748 shares in the company, valued at $4,486,958.84. The trade was a 28.66% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Craig Conway sold 4,500 shares of Salesforce stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $260.61, for a total value of $1,172,745.00. Following the completion of the transaction, the director directly owned 5,437 shares in the company, valued at $1,416,936.57. This trade represents a 45.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 3.50% of the stock is owned by company insiders.
Salesforce Profile
Salesforce, Inc (NYSE: CRM) is a global enterprise software company that provides cloud-based customer relationship management (CRM) technology. Its platform helps organizations manage sales, customer service, marketing, commerce, data, analytics and interactions with customers across digital and traditional channels.
The company’s products include Sales Cloud, Service Cloud, Marketing Cloud, Commerce Cloud and Data Cloud. Salesforce also offers Tableau for data visualization and analytics, MuleSoft for application integration, and Slack for workplace collaboration.
Read More
- Five stocks we like better than Salesforce
- Alcoa Beat Earnings, But Can It Escape the Aluminum Bears?
- Insider Buying Is Rising at These 3 Regional Banks, But the Details Matter
- Illinois Tool Works Faces Headwinds—2 Alternatives Stand Out
- Luxury’s Middle Market Is Cracking—These 3 Stocks Could Win
Want to see what other hedge funds are holding CRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Salesforce Inc. (NYSE:CRM – Free Report).
Receive News & Ratings for Salesforce Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Salesforce and related companies with MarketBeat.com's FREE daily email newsletter.
