Rockland Trust Co. Sells 4,268 Shares of Salesforce Inc. $CRM

Rockland Trust Co. trimmed its holdings in Salesforce Inc. (NYSE:CRM) by 43.3% in the second quarter, Holdings Channel reports. The institutional investor owned 5,600 shares of the CRM provider’s stock after selling 4,268 shares during the quarter. Rockland Trust Co.’s holdings in Salesforce were worth $877,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Commonwealth Retirement Investments LLC bought a new position in shares of Salesforce in the fourth quarter worth $25,000. Key Capital Management INC bought a new stake in shares of Salesforce during the 4th quarter valued at $26,000. Gilpin Wealth Management LLC purchased a new stake in Salesforce during the 4th quarter worth about $26,000. Legacy Bridge LLC purchased a new stake in Salesforce during the 4th quarter worth about $27,000. Finally, Birchwood Financial Partners Inc. bought a new position in Salesforce in the 4th quarter worth about $28,000. Institutional investors own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on CRM shares. Evercore reiterated an “outperform” rating on shares of Salesforce in a research report on Tuesday, July 14th. Guggenheim upgraded shares of Salesforce from a “neutral” rating to a “buy” rating and set a $228.00 price objective for the company in a research report on Wednesday, July 1st. B. Riley Financial boosted their price objective on shares of Salesforce from $205.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Needham & Company LLC reaffirmed a “buy” rating on shares of Salesforce in a report on Tuesday, June 16th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $250.00 price objective on shares of Salesforce in a research note on Thursday, May 28th. Two analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, sixteen have issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $249.51.

Salesforce Stock Performance

NYSE CRM opened at $192.48 on Friday. Salesforce Inc. has a 52-week low of $146.32 and a 52-week high of $269.11. The company has a fifty day moving average of $171.23 and a 200-day moving average of $183.26. The company has a market capitalization of $157.64 billion, a P/E ratio of 22.28, a P/E/G ratio of 1.04 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 (NYSE:CRM) last released its earnings results on Wednesday, May 27th. The CRM provider reported $3.88 EPS for the quarter, beating analysts’ consensus estimates of $3.13 by $0.75. Salesforce had a return on equity of 18.72% and a net margin of 18.73%.The business had revenue of $11.13 billion for the quarter, compared to analysts’ expectations of $11.05 billion. During the same quarter in the prior year, the firm earned $2.58 earnings per share. The firm’s revenue was up 13.3% on a year-over-year basis. 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, equities research analysts predict that Salesforce Inc. will post 10.27 EPS for the current fiscal year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Thursday, June 11th were given a dividend of $0.44 per share. The ex-dividend date was Thursday, June 11th. This represents a $1.76 annualized dividend and a dividend yield of 0.9%. Salesforce’s dividend payout ratio is 20.37%.

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.