Community Bank N.A. Boosts Holdings in Salesforce Inc. $CRM

Community Bank N.A. lifted its holdings in Salesforce Inc. (NYSE:CRM) by 20.8% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 16,468 shares of the CRM provider’s stock after acquiring an additional 2,836 shares during the quarter. Community Bank N.A.’s holdings in Salesforce were worth $2,580,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. NewEdge Advisors LLC lifted its stake in shares of Salesforce by 6.6% in the 2nd quarter. NewEdge Advisors LLC now owns 90,082 shares of the CRM provider’s stock valued at $14,112,000 after acquiring an additional 5,584 shares during the last quarter. IFP Advisors Inc increased its stake in Salesforce by 9.8% in the 2nd quarter. IFP Advisors Inc now owns 34,622 shares of the CRM provider’s stock worth $5,424,000 after purchasing an additional 3,084 shares during the period. Bank OZK increased its stake in Salesforce by 7.0% in the 2nd quarter. Bank OZK now owns 3,754 shares of the CRM provider’s stock worth $588,000 after purchasing an additional 244 shares during the period. Empirical Finance LLC lifted its position in Salesforce by 3.2% in the second quarter. Empirical Finance LLC now owns 33,277 shares of the CRM provider’s stock valued at $5,213,000 after purchasing an additional 1,037 shares during the last quarter. Finally, Nykredit A S purchased a new stake in shares of Salesforce during the second quarter valued at approximately $48,836,000. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Performance

NYSE:CRM opened at $249.03 on Wednesday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.02. The firm’s fifty day simple moving average is $195.74 and its 200 day simple moving average is $185.92. The stock has a market cap of $204.95 billion, a P/E ratio of 22.70, a price-to-earnings-growth ratio of 1.20 and a beta of 1.20. Salesforce Inc. has a twelve month low of $146.32 and a twelve month high of $269.11.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Wednesday, August 26th. The CRM provider reported $5.90 EPS for the quarter, topping the consensus estimate of $3.27 by $2.63. The business had revenue of $11.35 billion during 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 company’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the prior 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. As a group, research analysts predict that Salesforce Inc. will post 12.65 EPS for the current year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 8th. Shareholders of record on Thursday, September 17th will be given a dividend of $0.44 per share. 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 presently 16.04%.

Analyst Upgrades and Downgrades

CRM has been the topic of several analyst reports. DA Davidson lifted their target price on shares of Salesforce from $175.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, August 27th. Monness Crespi & Hardt raised their price target on shares of Salesforce from $222.00 to $266.00 and gave the stock a “buy” rating in a report on Thursday, August 27th. Wells Fargo & Company boosted their price objective on shares of Salesforce from $205.00 to $230.00 and gave the company an “equal weight” rating in a research report on Thursday, August 27th. Piper Sandler downgraded shares of Salesforce from an “overweight” rating to a “neutral” rating in a research note on Thursday, May 28th. Finally, JPMorgan Chase & Co. increased their target price on shares of Salesforce from $250.00 to $265.00 and gave the stock an “overweight” rating in a report on Thursday, August 27th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, fifteen have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $266.50.

Insider Buying and Selling at Salesforce

In other news, Director Craig Conway sold 4,500 shares of the stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $260.61, for a total value of $1,172,745.00. Following the completion of the transaction, the director owned 5,437 shares of the company’s stock, valued at approximately $1,416,936.57. This represents a 45.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.50% of the company’s stock.

Salesforce Company Profile

Salesforce, Inc is a cloud-based software company that provides customer relationship management (CRM) technology and related enterprise applications. Its platform helps organizations manage sales, customer service, marketing, commerce, data analytics and business operations through subscription-based software and cloud services.

The company’s product portfolio includes Sales Cloud, Service Cloud, Marketing Cloud, Commerce Cloud, Data Cloud and the Salesforce Platform. Salesforce also offers Slack for workplace collaboration, Tableau for data visualization and analytics, MuleSoft for application integration, and artificial intelligence capabilities, including its Agentforce platform for building and deploying AI agents.

Founded in 1999, Salesforce is headquartered in San Francisco, California, and serves businesses and organizations across a broad range of industries and geographic markets worldwide.