Valley Wealth Managers Inc. Sells 4,145 Shares of Salesforce Inc. $CRM

Valley Wealth Managers Inc. lessened its holdings in Salesforce Inc. (NYSE:CRM) by 5.1% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 76,904 shares of the CRM provider’s stock after selling 4,145 shares during the period. Valley Wealth Managers Inc.’s holdings in Salesforce were worth $20,373,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Rockland Trust Co. raised its stake in Salesforce by 1,145.6% during 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 period. Alps Advisors Inc. raised its stake in Salesforce by 98.3% during the 3rd quarter. Alps Advisors Inc. now owns 21,455 shares of the CRM provider’s stock worth $5,085,000 after acquiring an additional 10,633 shares during the period. Midwest Trust Co raised its stake in Salesforce by 2.3% during the 3rd quarter. Midwest Trust Co now owns 187,071 shares of the CRM provider’s stock worth $44,336,000 after acquiring an additional 4,233 shares during the period. Jones Financial Companies Lllp grew its holdings in Salesforce by 15.1% during the 3rd quarter. Jones Financial Companies Lllp now owns 467,551 shares of the CRM provider’s stock valued at $113,420,000 after buying an additional 61,270 shares in the last quarter. Finally, AGF Management Ltd. grew its holdings in Salesforce by 42.2% during the 3rd quarter. AGF Management Ltd. now owns 281,054 shares of the CRM provider’s stock valued at $66,610,000 after buying an additional 83,403 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling at Salesforce

In other news, Director David Blair Kirk acquired 2,570 shares of the company’s stock in a transaction on Wednesday, March 18th. The stock was bought at an average cost of $194.62 per share, with a total value of $500,173.40. Following the completion of the purchase, the director directly owned 13,689 shares of the company’s stock, valued at $2,664,153.18. This represents a 23.11% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Laura Alber bought 2,571 shares of the firm’s stock in a transaction dated Thursday, March 19th. The shares were acquired at an average price of $194.58 per share, with a total value of $500,265.18. Following the completion of the transaction, the director owned 9,530 shares of the company’s stock, valued at approximately $1,854,347.40. The trade was a 36.94% increase in their position. The disclosure for this purchase is available in the SEC filing. 3.00% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. The Goldman Sachs Group reaffirmed a “buy” rating and set a $281.00 price objective on shares of Salesforce in a report on Thursday, February 26th. Northland Securities cut their price objective on shares of Salesforce from $267.00 to $229.00 and set a “market perform” rating for the company in a report on Tuesday, March 10th. Piper Sandler cut their price objective on shares of Salesforce from $250.00 to $215.00 and set an “overweight” rating for the company in a report on Tuesday, April 14th. Wells Fargo & Company cut their price objective on shares of Salesforce from $235.00 to $210.00 and set an “equal weight” rating for the company in a report on Thursday, February 26th. Finally, Oppenheimer cut their price objective on shares of Salesforce from $275.00 to $250.00 and set an “outperform” rating for the company in a report on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $279.18.

Salesforce Trading Down 2.4%

CRM stock opened at $177.52 on Tuesday. The firm has a fifty day moving average price of $186.13 and a 200 day moving average price of $217.79. Salesforce Inc. has a fifty-two week low of $163.52 and a fifty-two week high of $296.05. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.76 and a current ratio of 0.76. The firm has a market cap of $145.25 billion, a PE ratio of 22.73, a price-to-earnings-growth ratio of 1.26 and a beta of 1.14.

Salesforce (NYSE:CRM) last posted its earnings results 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 firm had revenue of $11.20 billion during the quarter, compared to analyst estimates of $11.18 billion. Salesforce had a net margin of 17.96% and a return on equity of 15.38%. Salesforce’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period last year, the firm posted $2.78 earnings per share. Salesforce has set its FY 2027 guidance at 13.110-13.190 EPS and its Q1 2027 guidance at 3.110-3.130 EPS. Sell-side analysts anticipate that Salesforce Inc. will post 9.71 earnings per share for the current fiscal year.

Salesforce announced that its board has authorized a stock repurchase program on Monday, March 16th that allows the company to buyback $25.00 billion in shares. This buyback authorization allows the CRM provider to purchase up to 14.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.

Salesforce Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 23rd. Shareholders of record on Thursday, April 9th were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Thursday, April 9th. This is a positive change from Salesforce’s previous quarterly dividend of $0.42. This represents a $1.76 annualized dividend and a yield of 1.0%. Salesforce’s payout ratio is presently 22.54%.

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.