PNC Financial Services Group Inc. Boosts Stake in Salesforce Inc. $CRM

PNC Financial Services Group Inc. raised its stake in Salesforce Inc. (NYSE:CRM) by 2.4% in the second quarter, HoldingsChannel.com reports. The fund owned 269,956 shares of the CRM provider’s stock after purchasing an additional 6,455 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Salesforce were worth $73,614,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Advyzon Investment Management LLC increased its position in Salesforce by 57.4% during the second quarter. Advyzon Investment Management LLC now owns 1,884 shares of the CRM provider’s stock worth $514,000 after purchasing an additional 687 shares during the last quarter. Achmea Investment Management B.V. grew its stake in shares of Salesforce by 9.2% during the 2nd quarter. Achmea Investment Management B.V. now owns 148,254 shares of the CRM provider’s stock valued at $40,427,000 after buying an additional 12,544 shares during the period. Diversified Trust Co increased its holdings in shares of Salesforce by 30.1% during the 2nd quarter. Diversified Trust Co now owns 27,786 shares of the CRM provider’s stock worth $7,577,000 after buying an additional 6,430 shares during the last quarter. Andra AP fonden raised its position in shares of Salesforce by 34.4% in the 2nd quarter. Andra AP fonden now owns 174,145 shares of the CRM provider’s stock worth $47,488,000 after buying an additional 44,600 shares during the period. Finally, Resona Asset Management Co. Ltd. boosted its holdings in Salesforce by 5.7% in the second quarter. Resona Asset Management Co. Ltd. now owns 326,826 shares of the CRM provider’s stock valued at $89,160,000 after acquiring an additional 17,487 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Stock Up 0.6%

CRM stock opened at $245.93 on Thursday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.14. The firm’s 50-day simple moving average is $246.72 and its 200 day simple moving average is $257.90. The stock has a market cap of $234.12 billion, a PE ratio of 35.75, a price-to-earnings-growth ratio of 2.11 and a beta of 1.19. Salesforce Inc. has a fifty-two week low of $226.48 and a fifty-two week high of $369.00.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Wednesday, September 3rd. The CRM provider reported $2.91 EPS for the quarter, beating the consensus estimate of $2.78 by $0.13. Salesforce had a net margin of 16.87% and a return on equity of 13.27%. The company had revenue of $10.24 billion for the quarter, compared to analyst estimates of $10.14 billion. During the same quarter last year, the business earned $2.56 earnings per share. Salesforce’s revenue was up 9.8% compared to the same quarter last year. Salesforce has set its FY 2026 guidance at 11.330-11.370 EPS. Q3 2026 guidance at 2.840-2.860 EPS. As a group, sell-side analysts predict that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 9th. Shareholders of record on Wednesday, September 17th were given a dividend of $0.416 per share. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Wednesday, September 17th. Salesforce’s payout ratio is 24.13%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CRM. DA Davidson restated a “neutral” rating and set a $225.00 price target on shares of Salesforce in a research note on Thursday, October 16th. Wells Fargo & Company decreased their target price on Salesforce from $275.00 to $265.00 and set an “equal weight” rating for the company in a research report on Thursday, September 4th. Roth Capital reiterated a “buy” rating and set a $395.00 target price on shares of Salesforce in a report on Thursday, September 4th. Barclays decreased their price target on Salesforce from $347.00 to $316.00 and set an “overweight” rating for the company in a report on Monday, August 18th. Finally, Oppenheimer dropped their price objective on shares of Salesforce from $370.00 to $315.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 26th. Twenty-five equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $325.23.

Insider Buying and Selling at Salesforce

In other news, CEO Marc Benioff sold 122 shares of the stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $259.00, for a total value of $31,598.00. Following the completion of the transaction, the chief executive officer directly owned 11,911,571 shares in the company, valued at $3,085,096,889. This trade represents a 0.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last ninety days, insiders have sold 69,872 shares of company stock valued at $17,257,913. Corporate insiders own 3.00% of the company’s stock.

About Salesforce

Salesforce, Inc provides Customer Relationship Management (CRM) technology that brings companies and customers together worldwide. The company's service includes sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale.