Salesforce Inc. $CRM Shares Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc boosted its holdings in Salesforce Inc. (NYSE:CRM) by 60.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 243,567 shares of the CRM provider’s stock after buying an additional 91,751 shares during the period. CIBC Asset Management Inc’s holdings in Salesforce were worth $64,523,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CRM. Board of the Pension Protection Fund acquired a new position in shares of Salesforce in the 4th quarter valued at $26,000. Key Capital Management INC acquired a new position in shares of Salesforce in the 4th quarter valued at $26,000. Legacy Bridge LLC acquired a new position in shares of Salesforce in the 4th quarter valued at $27,000. Texas Capital Bancshares Inc TX acquired a new position in shares of Salesforce in the 3rd quarter valued at $28,000. Finally, Dogwood Wealth Management LLC boosted its holdings in shares of Salesforce by 285.7% in the 4th quarter. Dogwood Wealth Management LLC now owns 108 shares of the CRM provider’s stock valued at $29,000 after purchasing an additional 80 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce News Summary

Here are the key news stories impacting Salesforce this week:

• Positive Sentiment: Salesforce beat expectations in its latest quarter, with strong revenue growth and better-than-expected earnings, reinforcing that core demand remains solid. The company is also being viewed as an AI beneficiary as it expands capabilities through its Anthropic investment and Contentful acquisition. Salesforce just beat estimates, one analyst still sees more pain
• Positive Sentiment: Technical traders are pointing to a bullish reversal, saying CRM has broken out from a consolidation pattern on strong volume and reclaimed key moving averages, which could support further upside if momentum holds. Salesforce (CRM) Price Forecast: Bullish Reversal Gains Strength
• Positive Sentiment: Investor sentiment has also been helped by broader optimism around software stocks and Salesforce’s AI push, with commentary highlighting the company’s strategic positioning in enterprise AI. Salesforce AI Push With Anthropic And Contentful Meets Undervalued Share Price

Insiders Place Their Bets

In other news, Director Laura Alber acquired 2,571 shares of the business’s stock in a transaction on Thursday, March 19th. The shares were purchased at an average price of $194.58 per share, for a total transaction of $500,265.18. Following the acquisition, the director directly owned 9,530 shares of the company’s stock, valued at $1,854,347.40. This represents a 36.94% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David Blair Kirk acquired 2,570 shares of the business’s stock in a transaction on Wednesday, March 18th. The stock was purchased at an average price of $194.62 per share, for a total transaction of $500,173.40. Following the acquisition, the director directly owned 13,689 shares in the company, valued at $2,664,153.18. This represents a 23.11% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 3.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CRM. Sanford C. Bernstein decreased their price target on shares of Salesforce from $194.00 to $173.00 and set an “underperform” rating on the stock in a report on Thursday, May 28th. Royal Bank Of Canada reduced their price objective on Salesforce from $290.00 to $210.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 26th. KeyCorp reduced their price objective on Salesforce from $300.00 to $290.00 and set an “overweight” rating on the stock in a research note on Thursday, May 28th. Wall Street Zen lowered Salesforce from a “buy” rating to a “hold” rating in a research note on Saturday, April 18th. Finally, BMO Capital Markets reduced their price objective on Salesforce from $225.00 to $215.00 and set an “outperform” rating on the stock in a research note on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $257.97.

Salesforce Stock Performance

Salesforce stock opened at $200.82 on Wednesday. The stock’s 50 day moving average price is $181.06 and its 200 day moving average price is $210.11. The firm has a market capitalization of $164.47 billion, a PE ratio of 23.24, a price-to-earnings-growth ratio of 1.37 and a beta of 1.16. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.79 and a current ratio of 0.79. Salesforce Inc. has a one year low of $163.52 and a one year high of $276.80.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Wednesday, May 27th. The CRM provider reported $3.88 EPS for the quarter, topping the consensus estimate of $3.13 by $0.75. The firm had revenue of $11.13 billion for the quarter, compared to analyst estimates of $11.05 billion. Salesforce had a return on equity of 18.72% and a net margin of 18.73%.Salesforce’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.58 EPS. Salesforce has set its FY 2027 guidance at 14.060-14.120 EPS and its Q2 2027 guidance at 3.250-3.270 EPS. As a group, sell-side analysts expect that Salesforce Inc. will post 9.83 EPS for the current fiscal year.

Salesforce declared that its Board of Directors has initiated a share buyback plan on Monday, March 16th that allows the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization allows the CRM provider to repurchase up to 14.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Thursday, June 11th will be issued a $0.44 dividend. The ex-dividend date is Thursday, June 11th. This represents a $1.76 dividend on an annualized basis and a yield of 0.9%. Salesforce’s payout ratio is currently 20.37%.

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.