Community Bank N.A. Acquires 2,905 Shares of Salesforce Inc. $CRM

Community Bank N.A. raised its holdings in Salesforce Inc. (NYSE:CRMFree Report) by 45.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,329 shares of the CRM provider’s stock after buying an additional 2,905 shares during the quarter. Community Bank N.A.’s holdings in Salesforce were worth $2,211,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in CRM. Marquette Asset Management LLC purchased a new stake in Salesforce in the third quarter worth $26,000. Evolution Wealth Management Inc. bought a new stake in Salesforce in the second quarter valued at $27,000. Texas Capital Bancshares Inc TX purchased a new position in Salesforce during the 3rd quarter valued at $28,000. Country Trust Bank increased its position in Salesforce by 658.8% during the 2nd quarter. Country Trust Bank now owns 129 shares of the CRM provider’s stock valued at $35,000 after purchasing an additional 112 shares during the period. Finally, Capital A Wealth Management LLC raised its holdings in Salesforce by 40.9% in the 2nd quarter. Capital A Wealth Management LLC now owns 155 shares of the CRM provider’s stock worth $41,000 after purchasing an additional 45 shares in the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CRM. UBS Group cut their target price on shares of Salesforce from $260.00 to $200.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 17th. Truist Financial set a $280.00 price target on shares of Salesforce in a research note on Thursday, February 26th. Arete Research upgraded shares of Salesforce to a “strong-buy” rating in a report on Thursday, December 11th. Citigroup upped their target price on Salesforce from $197.00 to $200.00 and gave the stock a “neutral” rating in a report on Monday, March 2nd. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Salesforce from $340.00 to $360.00 and gave the stock a “buy” rating in a research report on Thursday, December 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $282.06.

Read Our Latest Stock Analysis on CRM

Salesforce Stock Performance

Shares of CRM opened at $192.63 on Friday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.18. The business’s 50 day moving average price is $210.48 and its 200-day moving average price is $235.09. Salesforce Inc. has a 52 week low of $174.57 and a 52 week high of $296.05. The stock has a market cap of $177.80 billion, a P/E ratio of 24.66, a P/E/G ratio of 1.40 and a beta of 1.29.

Salesforce (NYSE:CRMGet Free Report) last posted its quarterly earnings data on Wednesday, February 25th. The CRM provider reported $3.81 earnings per share for the quarter, beating analysts’ consensus estimates of $3.05 by $0.76. The company had revenue of $11.20 billion during the quarter, compared to analyst estimates of $11.18 billion. Salesforce had a return on equity of 15.38% and a net margin of 17.96%.The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter last year, the company earned $2.78 EPS. Salesforce has set its FY 2027 guidance at 13.110-13.190 EPS and its Q1 2027 guidance at 3.110-3.130 EPS. Equities research analysts anticipate that Salesforce Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 23rd. Stockholders of record on Thursday, April 9th will be issued a dividend of $0.44 per share. The ex-dividend date is Thursday, April 9th. This is a boost from Salesforce’s previous quarterly dividend of $0.42. This represents a $1.76 annualized dividend and a dividend yield of 0.9%. Salesforce’s dividend payout ratio is 22.54%.

Trending Headlines about Salesforce

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Insider Buying and Selling at Salesforce

In other news, Director Neelie Kroes sold 3,893 shares of Salesforce stock in a transaction dated Wednesday, January 14th. The stock was sold at an average price of $238.70, for a total value of $929,259.10. Following the completion of the transaction, the director owned 7,299 shares of the company’s stock, valued at $1,742,271.30. The trade was a 34.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David Blair Kirk purchased 1,936 shares of the company’s stock in a transaction that occurred on Wednesday, December 17th. The stock was purchased at an average price of $258.64 per share, for a total transaction of $500,727.04. Following the purchase, the director owned 10,677 shares in the company, valued at $2,761,499.28. This represents a 22.15% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 3.00% of the stock is owned by company insiders.

About Salesforce

(Free Report)

Salesforce, founded in 1999 and headquartered in San Francisco, is a global provider of cloud-based software focused on customer relationship management (CRM) and enterprise applications. The company popularized the software-as-a-service (SaaS) model for CRM and has built a broad portfolio of products designed to help organizations manage sales, service, marketing, commerce and analytics through a unified, cloud-first platform.

Core offerings include Sales Cloud for sales automation, Service Cloud for customer support, Marketing Cloud for digital marketing and engagement, and Commerce Cloud for e-commerce.

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Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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