TD Waterhouse Canada Inc. Sells 9,585 Shares of Salesforce Inc. $CRM

TD Waterhouse Canada Inc. decreased its stake in shares of Salesforce Inc. (NYSE:CRM) by 9.1% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 95,374 shares of the CRM provider’s stock after selling 9,585 shares during the period. TD Waterhouse Canada Inc.’s holdings in Salesforce were worth $15,576,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Fred Alger Management LLC raised its stake in shares of Salesforce by 0.3% in the third quarter. Fred Alger Management LLC now owns 14,943 shares of the CRM provider’s stock worth $3,548,000 after acquiring an additional 45 shares during the last quarter. Synergy Financial Group LTD grew its stake in shares of Salesforce by 2.4% during the third quarter. Synergy Financial Group LTD now owns 2,035 shares of the CRM provider’s stock valued at $482,000 after purchasing an additional 48 shares during the last quarter. CBIZ Investment Advisory Services LLC increased its holdings in shares of Salesforce by 35.4% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 199 shares of the CRM provider’s stock valued at $53,000 after purchasing an additional 52 shares in the last quarter. Krane Funds Advisors LLC increased its holdings in shares of Salesforce by 0.7% in the fourth quarter. Krane Funds Advisors LLC now owns 8,254 shares of the CRM provider’s stock valued at $2,187,000 after purchasing an additional 57 shares in the last quarter. Finally, HBW Advisory Services LLC raised its position in Salesforce by 0.4% in the 1st quarter. HBW Advisory Services LLC now owns 13,098 shares of the CRM provider’s stock worth $2,445,000 after purchasing an additional 57 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Key Salesforce News

Here are the key news stories impacting Salesforce this week:

• Positive Sentiment: AI growth is becoming material: Agentforce and Data 360 annual recurring revenue reached nearly $3.9 billion, up more than 210% year over year. Agentforce ARR exceeded $1.5 billion and grew more than 240%, supporting the view that Salesforce is successfully monetizing artificial intelligence. Salesforce Grew Agentforce and Data 360 ARR More Than 200%
• Positive Sentiment: Analyst support remains strong: Cantor Fitzgerald raised its Salesforce price target to $300, while BTIG reaffirmed its “Buy” rating and said it is increasingly confident in improving business trends. Cantor Fitzgerald Raises Salesforce Price Target
• Positive Sentiment: Shareholder returns: Salesforce declared a quarterly cash dividend of $0.44 per share, payable October 8 to shareholders of record September 17. The dividend provides a modest income component and signals continued confidence in cash generation. Salesforce Announces Quarterly Dividend

Salesforce Stock Down 1.9%

NYSE:CRM opened at $259.39 on Friday. Salesforce Inc. has a 12-month low of $146.32 and a 12-month high of $269.11. 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 has a market capitalization of $213.48 billion, a P/E ratio of 23.65, a P/E/G ratio of 1.23 and a beta of 1.20. The stock’s fifty day simple moving average is $191.88 and its 200-day simple moving average is $185.00.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, August 26th. The CRM provider reported $5.90 EPS for the quarter, topping analysts’ consensus estimates of $3.27 by $2.63. Salesforce had a return on equity of 24.90% and a net margin of 21.99%.The business had revenue of $11.35 billion during the quarter, compared to analysts’ expectations of $11.33 billion. During the same period in the previous year, the firm earned $2.91 earnings per share. The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. Salesforce has set its FY 2027 guidance at 16.670-16.710 EPS and its Q3 2027 guidance at 3.420-3.440 EPS. Equities research analysts expect that Salesforce Inc. will post 12.64 earnings per share for the current year.

Salesforce Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages have commented on CRM. Royal Bank Of Canada increased their price objective on Salesforce from $210.00 to $250.00 and gave the company a “sector perform” rating in a research report on Thursday, August 27th. Wolfe Research raised Salesforce from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 27th. Citizens Jmp reiterated a “market outperform” rating and issued a $315.00 price target on shares of Salesforce in a report on Tuesday, August 25th. Piper Sandler lowered Salesforce from an “overweight” rating to a “neutral” rating in a research report on Thursday, May 28th. Finally, Needham & Company LLC reissued a “buy” rating and set a $400.00 price objective on shares of Salesforce in a report on Wednesday. Three 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and a consensus price target of $266.50.

Insider Buying and Selling at Salesforce

In related news, Director Craig Conway sold 4,500 shares of the stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $260.61, for a total value of $1,172,745.00. Following the sale, the director directly owned 5,437 shares in the company, valued at $1,416,936.57. This trade represents a 45.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 3.50% of the stock is owned by corporate insiders.

Salesforce 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.