Summit Global Investments lessened its holdings in Salesforce Inc. (NYSE:CRM – Free Report) by 25.1% during the third quarter, HoldingsChannel.com reports. The fund owned 9,907 shares of the CRM provider’s stock after selling 3,320 shares during the period. Summit Global Investments’ holdings in Salesforce were worth $2,274,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. ABS Direct Equity Fund LLC acquired a new stake in shares of Salesforce in the 2nd quarter valued at approximately $25,000. Latitude Advisors LLC acquired a new position in Salesforce during the 3rd quarter worth approximately $25,000. Manning & Napier Advisors LLC acquired a new position in Salesforce during the 2nd quarter worth approximately $26,000. Persistent Asset Partners Ltd bought a new position in Salesforce in the 2nd quarter valued at approximately $27,000. Finally, Costello Asset Management INC lifted its stake in Salesforce by 410.3% in the 1st quarter. Costello Asset Management INC now owns 148 shares of the CRM provider’s stock valued at $28,000 after purchasing an additional 119 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.
Analyst Ratings Changes
A number of brokerages have weighed in on CRM. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Salesforce in a research note on Thursday, August 27th. Guggenheim increased their price target on Salesforce from $270.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, September 17th. Barclays cut Salesforce from an “overweight” rating to a “positive” rating in a research note on Monday, October 12th. Raymond James Financial reissued a “strong-buy” rating on shares of Salesforce in a report on Thursday, August 27th. Finally, TD Cowen started coverage on Salesforce in a research report on Monday, October 12th. They set a “buy” rating on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating, thirteen have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $278.98.
Check Out Our Latest Analysis on CRM
Insider Activity
In related news, Director David Blair Kirk acquired 4,176 shares of the business’s stock in a transaction that occurred on Friday, September 18th. The shares were bought at an average cost of $239.33 per share, with a total value of $999,442.08. Following the completion of the purchase, 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 purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Craig Conway sold 4,500 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director owned 5,437 shares in the company, valued at $1,416,936.57. The trade was a 45.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 3.50% of the company’s stock.
Salesforce Price Performance
CRM stock opened at $228.56 on Friday. The company has a fifty day moving average price of $238.94 and a 200-day moving average price of $198.88. The company has a market capitalization of $188.10 billion, a P/E ratio of 20.84, a PEG ratio of 1.04 and a beta of 1.26. Salesforce Inc. has a 52-week low of $146.32 and a 52-week high of $269.11. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.84 and a current ratio of 0.84.
Salesforce (NYSE:CRM – Get Free Report) last issued its quarterly earnings data on Wednesday, August 26th. The CRM provider reported $5.90 earnings per share for the quarter, topping the consensus estimate of $3.27 by $2.63. The company had revenue of $11.35 billion for the quarter, compared to analysts’ expectations of $11.33 billion. Salesforce had a net margin of 21.99% and a return on equity of 24.90%. Salesforce’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $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, equities analysts expect that Salesforce Inc. will post 12.82 EPS for the current year.
Salesforce Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, October 8th. Shareholders of record on Thursday, September 17th were given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Thursday, September 17th. Salesforce’s payout ratio is 16.04%.
Key Headlines Impacting Salesforce
Here are the key news stories impacting Salesforce this week:
- Positive Sentiment: Salesforce signed a definitive agreement to acquire Rune Technologies, a defense-technology company. The deal supports Salesforce’s push into military and government applications, potentially expanding its addressable market and adding a specialized technology platform. Financial terms were not disclosed. Salesforce Signs Definitive Agreement to Acquire Rune Technologies
- Positive Sentiment: TPM Holdings completed an 18-month realignment centered on Salesforce CRM and artificial intelligence for the architecture, engineering and construction industries. Its combination of TrebleHook and The Hunley Group could expand Salesforce-based implementations and demonstrate growing demand for industry-specific AI tools. TPM Holdings Accelerates Investment in AI and Salesforce CRM
- Positive Sentiment: Several analyst and investment articles describe Salesforce as a potential AI rebound candidate, citing autonomous AI agents, improving monetization, strong free cash flow and its leadership in customer relationship management. These views may support longer-term sentiment, although they are not new company guidance. AI Comeback Story Article
- Neutral Sentiment: Salesforce’s earnings report is approaching, making upcoming revenue growth, AI adoption, margins and forward guidance the main near-term catalysts. The company’s latest reported quarter included revenue of $11.35 billion and adjusted earnings that exceeded consensus estimates. Salesforce Earnings Preview
- Negative Sentiment: Salesforce declined in sympathy with ServiceNow, Fortinet and other software stocks after investors focused on slower contracted-revenue growth despite earnings beats and higher AI targets. The reaction has renewed concerns about enterprise-software demand, AI monetization timelines and elevated sector valuations. ServiceNow Results Dent Software Stocks
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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