Capital Group Investment Management PTE. LTD. Raises Position in Salesforce Inc. $CRM

Capital Group Investment Management PTE. LTD. boosted its position in Salesforce Inc. (NYSE:CRM) by 45.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,005 shares of the CRM provider’s stock after purchasing an additional 6,215 shares during the period. Capital Group Investment Management PTE. LTD.’s holdings in Salesforce were worth $4,741,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Rockland Trust Co. increased its holdings in Salesforce by 1,145.6% in the 3rd quarter. Rockland Trust Co. now owns 13,066 shares of the CRM provider’s stock worth $3,097,000 after acquiring an additional 12,017 shares during the last quarter. Alps Advisors Inc. lifted its holdings in Salesforce by 98.3% during the third quarter. Alps Advisors Inc. now owns 21,455 shares of the CRM provider’s stock valued at $5,085,000 after purchasing an additional 10,633 shares during the last quarter. Midwest Trust Co boosted its position in Salesforce by 2.3% during the third quarter. Midwest Trust Co now owns 187,071 shares of the CRM provider’s stock worth $44,336,000 after purchasing an additional 4,233 shares during the period. Jones Financial Companies Lllp boosted its position in Salesforce by 15.1% during the third quarter. Jones Financial Companies Lllp now owns 467,551 shares of the CRM provider’s stock worth $113,420,000 after purchasing an additional 61,270 shares during the period. Finally, AGF Management Ltd. increased its stake in shares of Salesforce by 42.2% in the third quarter. AGF Management Ltd. now owns 281,054 shares of the CRM provider’s stock worth $66,610,000 after purchasing an additional 83,403 shares in the last quarter. 80.43% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director David Blair Kirk acquired 1,936 shares of the stock in a transaction 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 completion of the transaction, the director owned 10,677 shares of the company’s stock, valued at $2,761,499.28. This trade represents a 22.15% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Neelie Kroes sold 3,893 shares of the stock in a transaction that occurred on Wednesday, January 14th. The shares were sold at an average price of $238.70, for a total value of $929,259.10. Following the sale, the director directly owned 7,299 shares of the company’s stock, valued at approximately $1,742,271.30. This trade represents a 34.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 3.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Oppenheimer lowered their price target on shares of Salesforce from $275.00 to $250.00 and set an “outperform” rating on the stock in a research report on Thursday, February 26th. Citizens Jmp reiterated a “market outperform” rating and issued a $430.00 price objective on shares of Salesforce in a research note on Tuesday, December 2nd. The Goldman Sachs Group reissued a “buy” rating and set a $281.00 target price on shares of Salesforce in a report on Thursday, February 26th. Sanford C. Bernstein dropped their target price on Salesforce from $223.00 to $194.00 and set an “underperform” rating on the stock in a research report on Thursday, February 26th. Finally, TD Cowen cut their price target on Salesforce from $325.00 to $250.00 and set a “buy” rating for the company in a report on Thursday, February 26th. One 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 issued a Sell rating to the company. Based on data from MarketBeat, Salesforce has a consensus rating of “Moderate Buy” and a consensus price target of $283.14.

Salesforce Stock Performance

NYSE CRM opened at $198.81 on Tuesday. The company’s 50 day simple moving average is $215.86 and its two-hundred day simple moving average is $236.46. The stock has a market capitalization of $183.50 billion, a PE ratio of 25.46, a P/E/G ratio of 1.47 and a beta of 1.29. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.76 and a quick ratio of 0.76. Salesforce Inc. has a 1 year low of $174.57 and a 1 year high of $296.05.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, February 25th. The CRM provider reported $3.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.05 by $0.76. Salesforce had a net margin of 17.96% and a return on equity of 15.38%. The company had revenue of $11.20 billion during the quarter, compared to analysts’ expectations of $11.18 billion. During the same quarter in the prior year, the company earned $2.78 EPS. The firm’s revenue was up 12.1% on a year-over-year basis. Salesforce has set its FY 2027 guidance at 13.110-13.190 EPS and its Q1 2027 guidance at 3.110-3.130 EPS. Analysts predict 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. Investors of record on Thursday, April 9th will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 0.9%. The ex-dividend date is Thursday, April 9th. This is a positive change from Salesforce’s previous quarterly dividend of $0.42. Salesforce’s dividend payout ratio is 21.25%.

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.