Independence Bank of Kentucky Decreases Stock Position in Salesforce Inc. $CRM

Independence Bank of Kentucky cut its holdings in Salesforce Inc. (NYSE:CRM) by 31.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,956 shares of the CRM provider’s stock after selling 3,597 shares during the quarter. Independence Bank of Kentucky’s holdings in Salesforce were worth $1,246,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CRM. Commonwealth Retirement Investments LLC bought a new stake in Salesforce in the 4th quarter worth about $25,000. Manning & Napier Advisors LLC bought a new position in Salesforce during the 2nd quarter valued at about $26,000. Gilpin Wealth Management LLC purchased a new stake in shares of Salesforce during the 4th quarter valued at about $26,000. Persistent Asset Partners Ltd purchased a new position in shares of Salesforce during the second quarter valued at approximately $27,000. Finally, Costello Asset Management INC lifted its position in Salesforce by 410.3% during the first 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 period. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on CRM. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Salesforce in a report on Thursday, August 27th. Citigroup increased their price target on Salesforce from $204.00 to $233.00 and gave the company a “neutral” rating in a report on Thursday, August 27th. Weiss Ratings upgraded Salesforce from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, August 12th. Wall Street Zen cut Salesforce from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, Barclays increased their target price on Salesforce from $236.00 to $276.00 and gave the company an “overweight” rating in a report on Thursday, August 27th. Three analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, fifteen have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $262.12.

Salesforce News Roundup

Here are the key news stories impacting Salesforce this week:

• Positive Sentiment: AI adoption is becoming a revenue driver. Agentforce annual recurring revenue surpassed $1.5 billion, rising 240% year over year, while Salesforce introduced “Claudeforce,” an integration of Anthropic’s Claude with Salesforce customer data. The partnership supports the company’s argument that AI will expand, rather than replace, its platform. Salesforce Bets Its Next Chapter on an Unlikely AI Marriage
• Positive Sentiment: Analysts remain bullish. TD Cowen reiterated a Buy rating and raised its price target to $300 from $280. Argus also lifted its target to $300 and maintained a Buy rating, reinforcing expectations for additional upside after CRM’s recent rally. What’s Going On With Salesforce Stock?
• Positive Sentiment: Enterprise demand remains resilient. Quarterly revenue increased approximately 11% year over year, future contracted revenue accelerated and customer churn approached record lows. Salesforce also raised its fiscal-year guidance, helping validate the post-earnings rally. Salesforce Looks Overbought, But the Rally May Be Far From Over
• Positive Sentiment: The AI ecosystem is broadening. Salesforce led an investment in workforce-data platform HiBob, while Sinch added a Mailgun Inspect email tool to AgentExchange. These moves expand potential AI applications in human resources, marketing and customer workflows. Salesforce Backs Workforce AI and Adds New AgentExchange Email Tool
• Neutral Sentiment: Northland Securities raised its fiscal 2027 EPS estimate to $12.75 from $11.35, close to the $12.77 consensus, but reduced estimates for the third and fourth quarters. This suggests stronger full-year expectations may already reflect much of the near-term improvement.
• Negative Sentiment: Technical risk has increased. CRM’s RSI is above 80 after a sharp recovery from its August lows, indicating overbought conditions and the possibility of profit-taking or a near-term pullback even if the long-term AI thesis remains intact. Salesforce Looks Overbought, But the Rally May Be Far From Over

Salesforce Trading Up 0.2%

NYSE:CRM opened at $258.00 on Wednesday. Salesforce Inc. has a one year low of $146.32 and a one year high of $269.11. The business has a fifty day moving average price of $185.49 and a 200-day moving average price of $183.44. The firm has a market capitalization of $212.33 billion, a price-to-earnings ratio of 23.52, a price-to-earnings-growth ratio of 1.19 and a beta of 1.20. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.84 and a quick ratio of 0.84.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, August 26th. The CRM provider reported $5.90 earnings per share for the quarter, beating the consensus estimate of $3.27 by $2.63. The company had revenue of $11.35 billion for the quarter, compared to the consensus estimate of $11.33 billion. Salesforce had a return on equity of 24.90% and a net margin of 21.99%.Salesforce’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the business earned $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. Sell-side analysts forecast that Salesforce Inc. will post 12.64 EPS for the current year.

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.