Veritas Asset Management LLP Has $8.11 Million Holdings in Salesforce Inc. $CRM

Veritas Asset Management LLP lessened its position in Salesforce Inc. (NYSE:CRM) by 97.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,741 shares of the CRM provider’s stock after selling 2,202,145 shares during the quarter. Salesforce comprises about 0.2% of Veritas Asset Management LLP’s investment portfolio, making the stock its 18th biggest position. Veritas Asset Management LLP’s holdings in Salesforce were worth $8,106,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CRM. Brighton Jones LLC increased its position in Salesforce by 13.7% during the fourth quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider’s stock worth $8,582,000 after acquiring an additional 3,102 shares during the period. Revolve Wealth Partners LLC boosted its holdings in Salesforce by 12.6% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,827 shares of the CRM provider’s stock valued at $611,000 after purchasing an additional 205 shares in the last quarter. Bison Wealth LLC grew its position in Salesforce by 9.0% in the fourth quarter. Bison Wealth LLC now owns 2,234 shares of the CRM provider’s stock valued at $747,000 after acquiring an additional 184 shares during the period. Sivia Capital Partners LLC lifted its holdings in Salesforce by 3.7% during the 2nd quarter. Sivia Capital Partners LLC now owns 2,958 shares of the CRM provider’s stock valued at $807,000 after purchasing an additional 106 shares during the last quarter. Finally, United Bank grew its stake in Salesforce by 5.2% during the second quarter. United Bank now owns 10,198 shares of the CRM provider’s stock worth $2,781,000 after buying an additional 500 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors.

Salesforce Stock Down 3.9%

Shares of NYSE:CRM traded down $10.21 during trading on Tuesday, hitting $249.03. 16,186,912 shares of the company’s stock traded hands, compared to its average volume of 14,091,925. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.02. The company has a 50-day moving average price of $195.74 and a 200-day moving average price of $185.92. Salesforce Inc. has a 52 week low of $146.32 and a 52 week high of $269.11. The company has a market cap of $204.95 billion, a price-to-earnings ratio of 22.70, a price-to-earnings-growth ratio of 1.20 and a beta of 1.20.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, August 26th. The CRM provider reported $5.90 EPS for the quarter, topping the consensus estimate of $3.27 by $2.63. Salesforce had a net margin of 21.99% and a return on equity of 24.90%. The firm had revenue of $11.35 billion for the quarter, compared to the consensus estimate of $11.33 billion. During the same period last year, the company posted $2.91 EPS. The business’s quarterly revenue was up 10.8% on a year-over-year basis. 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, research analysts forecast that Salesforce Inc. will post 12.65 EPS for the current fiscal year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 8th. Investors of record on Thursday, September 17th will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Thursday, September 17th. Salesforce’s payout ratio is currently 16.04%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Citizens Jmp restated a “market outperform” rating and issued a $315.00 target price on shares of Salesforce in a research note on Tuesday, August 25th. Wall Street Zen cut shares of Salesforce from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Barclays upped their target price on shares of Salesforce from $236.00 to $276.00 and gave the company an “overweight” rating in a research report on Thursday, August 27th. HSBC lifted their price objective on Salesforce from $350.00 to $356.00 and gave the stock a “buy” rating in a research note on Friday, May 29th. Finally, BTIG Research restated a “buy” rating and set a $300.00 target price on shares of Salesforce in a report on Wednesday, September 2nd. Three analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, fifteen have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and an average target price of $266.50.

Insiders Place Their Bets

In other Salesforce news, Director Craig Conway sold 4,500 shares of the stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $260.61, for a total transaction of $1,172,745.00. Following the completion of the transaction, the director owned 5,437 shares in the company, valued at approximately $1,416,936.57. This represents a 45.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.50% of the company’s stock.

Salesforce Company Profile

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.