Convergence Financial LLC Sells 7,376 Shares of Salesforce Inc. $CRM

Convergence Financial LLC lowered its position in shares of Salesforce Inc. (NYSE:CRM) by 52.2% in the third quarter, Holdings Channel.com reports. The fund owned 6,741 shares of the CRM provider’s stock after selling 7,376 shares during the quarter. Convergence Financial LLC’s holdings in Salesforce were worth $1,548,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Smith Group Asset Management LLC purchased a new stake in shares of Salesforce during the third quarter worth $43,343,000. WestEnd Advisors LLC raised its position in shares of Salesforce by 31.4% in the third quarter. WestEnd Advisors LLC now owns 225,477 shares of the CRM provider’s stock valued at $51,763,000 after buying an additional 53,931 shares during the last quarter. William Mack & Associates Inc. purchased a new position in shares of Salesforce in the third quarter worth about $113,000. Victory Financial Group LLC lifted its stake in shares of Salesforce by 24.7% in the third quarter. Victory Financial Group LLC now owns 1,870 shares of the CRM provider’s stock worth $429,000 after buying an additional 370 shares in the last quarter. Finally, Busey Bank boosted its position in Salesforce by 3.3% during the third quarter. Busey Bank now owns 28,881 shares of the CRM provider’s stock worth $6,630,000 after acquiring an additional 917 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In other 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 completion of the sale, the director owned 5,437 shares of the company’s stock, valued at $1,416,936.57. This represents a 45.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director David Blair Kirk purchased 4,176 shares of the business’s stock in a transaction dated Friday, September 18th. The shares were purchased at an average price of $239.33 per share, with a total value of $999,442.08. Following the acquisition, the director directly owned 18,748 shares in the company, valued at approximately $4,486,958.84. The trade was a 28.66% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 3.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CRM. Weiss Ratings raised shares of Salesforce from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, September 24th. Erste Group Bank raised shares of Salesforce from a “hold” rating to a “buy” rating in a research note on Wednesday, August 5th. Stephens reissued an “equal weight” rating and issued a $289.00 target price on shares of Salesforce in a research note on Friday, September 18th. BMO Capital Markets boosted their target price on Salesforce from $250.00 to $285.00 and gave the stock an “outperform” rating in a report on Thursday, September 17th. Finally, Susquehanna initiated coverage on Salesforce in a research report on Wednesday, July 1st. They issued a “neutral” rating for the company. Three investment analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating, thirteen have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and a consensus price target of $278.98.

More Salesforce News

Here are the key news stories impacting Salesforce this week:

• Positive Sentiment: Usage-based AI billing could improve monetization. Salesforce plans to begin charging customers based on the volume of AI-agent calls in November, moving beyond a purely seat-based model. New Agent Fabric tools for testing, evaluation and cost controls may help customers adopt agents and give Salesforce a clearer path to growing AI revenue. Salesforce Brings In Usage Based AI Billing With New Agent Fabric Controls
• Positive Sentiment: Agentforce is strengthening the generative-AI investment case. Recent commentary points to improving Agentforce traction and supports the view that Salesforce can use its large customer base to commercialize AI capabilities, potentially accelerating growth beyond its core customer-management software. Agentforce Growth Strengthens Salesforce’s Generative AI Narrative
• Positive Sentiment: Analyst and valuation coverage remains generally constructive. Zacks describes CRM as a highly ranked growth stock, while other analysis argues the shares look inexpensive relative to Salesforce’s earnings power. The company’s latest reported quarter also showed strong earnings, revenue growth and profitability, supporting the bullish case. Salesforce Stock Looks Cheap Relative To Its Earnings Power
• Neutral Sentiment: Product expansion adds ecosystem value. Fastcall launched mobile calling and SMS integrations for Salesforce on iPhone and Android, broadening customer-engagement functionality, although the third-party announcement is unlikely to materially affect near-term financial results. Fastcall Launches Fastcall Mobile
• Negative Sentiment: Recent volatility reflects execution and valuation concerns. CRM fell in the previous session even as the broader market advanced, suggesting investors remain cautious about whether AI growth will offset slower underlying growth and justify the stock’s valuation. The shift to usage-based pricing also introduces uncertainty around revenue predictability and customer adoption.

Salesforce Stock Up 0.6%

NYSE CRM opened at $242.37 on Thursday. Salesforce Inc. has a 52 week low of $146.32 and a 52 week 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 business’s fifty day simple moving average is $237.98 and its 200-day simple moving average is $199.18. The firm has a market cap of $199.47 billion, a PE ratio of 22.09, a P/E/G ratio of 1.13 and a beta of 1.26.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Wednesday, August 26th. The CRM provider reported $5.90 earnings per share for the quarter, beating the consensus estimate of $3.27 by $2.63. Salesforce had a net margin of 21.99% and a return on equity of 24.90%. The firm had revenue of $11.35 billion for the quarter, compared to analysts’ expectations of $11.33 billion. During the same quarter in the previous year, the company posted $2.91 EPS. The company’s 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. As a group, equities analysts anticipate that Salesforce Inc. will post 12.82 earnings per share for the current year.

Salesforce Announces Dividend

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

Salesforce Company Profile

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.