Salesforce Inc. $CRM Shares Newly Bought by RWQ Financial Management Services Inc.

RWQ Financial Management Services Inc. purchased a new position in shares of Salesforce Inc. (NYSE:CRM) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 20,070 shares of the CRM provider’s stock, valued at approximately $4,607,000. Salesforce accounts for about 2.6% of RWQ Financial Management Services Inc.’s portfolio, making the stock its 19th biggest holding.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Independent Wealth Network Inc. bought a new stake in shares of Salesforce in the 3rd quarter worth approximately $255,000. BDF Gestion purchased a new stake in shares of Salesforce in the 3rd quarter valued at $2,806,000. Client 1ST Advisory Group LLC bought a new position in shares of Salesforce during the 3rd quarter valued at $257,000. Miramontes Capital LLC purchased a new position in Salesforce in the 3rd quarter worth $202,000. Finally, Generali Investments Management Co LLC raised its position in Salesforce by 45.4% in the 3rd quarter. Generali Investments Management Co LLC now owns 11,627 shares of the CRM provider’s stock worth $2,669,000 after purchasing an additional 3,629 shares during the period. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Freedom Broker upped their price target on shares of Salesforce from $230.00 to $295.00 and gave the company a “buy” rating in a research report on Thursday, September 17th. UBS Group reiterated a “buy” rating on shares of Salesforce in a report on Friday, September 11th. Sanford C. Bernstein reissued an “outperform” rating on shares of Salesforce in a research note on Thursday, August 27th. Deutsche Bank Aktiengesellschaft initiated coverage on Salesforce in a report on Monday, October 12th. They set a “buy” rating for the company. Finally, Argus raised their price target on Salesforce from $290.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, August 31st. Three research analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating, thirteen have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $278.40.

Salesforce Trading Up 0.7%

Shares of NYSE CRM traded up $1.65 during trading hours on Monday, hitting $242.35. The company’s stock had a trading volume of 2,886,277 shares, compared to its average volume of 13,494,459. Salesforce Inc. has a 12 month low of $146.32 and a 12 month high of $269.11. The stock has a market cap of $199.45 billion, a price-to-earnings ratio of 22.09, a P/E/G ratio of 1.09 and a beta of 1.26. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.84 and a current ratio of 0.84. The business has a 50-day simple moving average of $231.47 and a 200-day simple moving average of $194.89.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Wednesday, August 26th. The CRM provider reported $5.90 earnings per share 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 analysts’ expectations of $11.33 billion. Salesforce had a return on equity of 24.90% and a net margin of 21.99%. The business’s revenue was up 10.8% on a year-over-year basis. During the same quarter last year, the business posted $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. On average, analysts anticipate that Salesforce Inc. will post 12.82 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 8th. Shareholders of record on Thursday, September 17th were issued a $0.44 dividend. The ex-dividend date was Thursday, September 17th. This represents a $1.76 annualized dividend and a yield of 0.7%. Salesforce’s dividend payout ratio is 16.04%.

Insider Transactions at Salesforce

In other news, Director David Blair Kirk bought 4,176 shares of the stock in a transaction dated Friday, September 18th. The stock was bought at an average price of $239.33 per share, for a total transaction of $999,442.08. Following the purchase, the director directly owned 18,748 shares in the company, valued at $4,486,958.84. This trade represents a 28.66% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Craig Conway sold 4,500 shares of the company’s stock in a transaction 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 sale, the director directly owned 5,437 shares in the company, valued at approximately $1,416,936.57. The trade was a 45.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 3.50% of the company’s stock.

About Salesforce

Salesforce, Inc (NYSE: CRM) is a global enterprise software company that provides cloud-based customer relationship management (CRM) technology. Its platform helps organizations manage sales, customer service, marketing, commerce, data, analytics and interactions with customers across digital and traditional channels.

The company’s products include Sales Cloud, Service Cloud, Marketing Cloud, Commerce Cloud and Data Cloud. Salesforce also offers Tableau for data visualization and analytics, MuleSoft for application integration, and Slack for workplace collaboration.