Focused Alpha LLC purchased a new stake in shares of Salesforce Inc. (NYSE:CRM – Free Report) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 2,288 shares of the CRM provider’s stock, valued at approximately $525,000.
A number of other institutional investors also recently modified their holdings of the company. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Salesforce by 0.4% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 361,685 shares of the CRM provider’s stock worth $83,032,000 after buying an additional 1,560 shares during the last quarter. Warwick Investment Management Inc. acquired a new position in Salesforce during the 3rd quarter worth $211,000. Secure Asset Management LLC bought a new stake in Salesforce during the third quarter valued at about $229,000. Sitrin Capital Management LLC acquired a new stake in shares of Salesforce in the third quarter valued at about $293,000. Finally, Tanager Wealth Management LLP acquired a new stake in shares of Salesforce in the third quarter valued at about $214,000. Institutional investors own 80.43% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts recently weighed in on the company. TD Cowen began coverage on Salesforce in a research report on Monday, October 12th. They set a “buy” rating for the company. Mizuho lifted their price target on Salesforce from $265.00 to $280.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 16th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $250.00 price target on shares of Salesforce in a report on Thursday, September 17th. Wall Street Zen lowered shares of Salesforce from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, Stephens reissued an “equal weight” rating and issued a $289.00 price target on shares of Salesforce in a report on Friday, September 18th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating, thirteen have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and a consensus price target of $278.40.
View Our Latest Report on Salesforce
Salesforce Trading Up 0.9%
Shares of Salesforce stock opened at $242.77 on Tuesday. Salesforce Inc. has a 52-week low of $146.32 and a 52-week high of $269.11. The firm has a market capitalization of $199.80 billion, a PE ratio of 22.13, a price-to-earnings-growth ratio of 1.09 and a beta of 1.26. 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 company’s fifty day moving average price is $232.38 and its two-hundred day moving average price is $195.29.
Salesforce (NYSE:CRM – Get Free Report) last issued its earnings results on Wednesday, August 26th. The CRM provider reported $5.90 earnings per share for the quarter, beating the consensus estimate of $3.27 by $2.63. The business had revenue of $11.35 billion for the quarter, compared to analyst estimates of $11.33 billion. Salesforce had a net margin of 21.99% and a return on equity of 24.90%. The firm’s revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the business earned $2.91 EPS. Salesforce has set its FY 2027 guidance at 16.670-16.710 EPS and its Q3 2027 guidance at 3.420-3.440 EPS. On average, analysts expect that Salesforce Inc. will post 12.82 EPS for the current year.
Salesforce Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, October 8th. Stockholders of record on Thursday, September 17th were issued a $0.44 dividend. The ex-dividend date of this dividend was Thursday, September 17th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.7%. Salesforce’s dividend payout ratio is presently 16.04%.
Insider Buying and Selling
In related news, Director David Blair Kirk acquired 4,176 shares of the company’s stock in a transaction on Friday, September 18th. The stock was purchased at an average cost of $239.33 per share, for a total transaction of $999,442.08. Following the completion of the purchase, the director directly owned 18,748 shares of the company’s stock, valued at $4,486,958.84. The trade was a 28.66% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Craig Conway sold 4,500 shares of Salesforce stock in a transaction on Friday, September 4th. The shares were sold at an average price of $260.61, for a total value of $1,172,745.00. Following the transaction, the director directly owned 5,437 shares of the company’s stock, valued at approximately $1,416,936.57. The trade was a 45.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 3.50% of the company’s stock.
Salesforce Company 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.
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