Annex Advisory Services LLC Boosts Stake in Salesforce Inc. $CRM

Key Points

• Annex Advisory Services LLC increased its stake in Salesforce Inc. by 13.2% in the second quarter, owning a total of 136,195 shares valued at approximately $37.1 million.
• In a recent insider transaction, Director David Blair Kirk purchased 3,400 shares at an average price of $254.66, representing an 801.89% increase in his position.
• Salesforce announced a quarterly dividend of $0.416 per share, reflecting an annualized dividend yield of 0.7% with a payout ratio of 24.13%.

Annex Advisory Services LLC boosted its stake in Salesforce Inc. (NYSE:CRM - Free Report) by 13.2% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 136,195 shares of the CRM provider's stock after purchasing an additional 15,839 shares during the quarter. Annex Advisory Services LLC's holdings in Salesforce were worth $37,139,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Bernard Wealth Management Corp. purchased a new stake in Salesforce in the 4th quarter worth $25,000. Wood Tarver Financial Group LLC purchased a new stake in Salesforce in the 4th quarter worth $35,000. Capital A Wealth Management LLC lifted its stake in Salesforce by 450.0% in the 1st quarter. Capital A Wealth Management LLC now owns 110 shares of the CRM provider's stock worth $30,000 after purchasing an additional 90 shares in the last quarter. CBIZ Investment Advisory Services LLC lifted its stake in Salesforce by 314.8% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 112 shares of the CRM provider's stock worth $30,000 after purchasing an additional 85 shares in the last quarter. Finally, Abound Financial LLC purchased a new stake in Salesforce in the 1st quarter worth $31,000. Hedge funds and other institutional investors own 80.43% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CRM. Sanford C. Bernstein decreased their target price on shares of Salesforce from $255.00 to $221.00 and set an "underperform" rating on the stock in a research report on Thursday, September 4th. Wells Fargo & Company decreased their target price on shares of Salesforce from $275.00 to $265.00 and set an "equal weight" rating on the stock in a research report on Thursday, September 4th. Erste Group Bank cut shares of Salesforce from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. Barclays decreased their target price on shares of Salesforce from $347.00 to $316.00 and set an "overweight" rating on the stock in a research report on Monday, August 18th. Finally, KeyCorp decreased their target price on shares of Salesforce from $440.00 to $400.00 and set an "overweight" rating on the stock in a research report on Thursday, September 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $332.58.

Insider Buying and Selling

In other news, Director David Blair Kirk bought 3,400 shares of the firm's stock in a transaction that occurred on Tuesday, September 9th. The stock was bought at an average price of $254.66 per share, with a total value of $865,844.00. Following the completion of the transaction, the director directly owned 3,824 shares of the company's stock, valued at approximately $973,819.84. The trade was a 801.89% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Marc Benioff sold 2,250 shares of the firm's stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $245.09, for a total transaction of $551,452.50. Following the completion of the transaction, the chief executive officer directly owned 11,911,571 shares of the company's stock, valued at approximately $2,919,406,936.39. This represents a 0.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 74,250 shares of company stock valued at $18,844,155 in the last three months. 3.00% of the stock is currently owned by corporate insiders.

Salesforce Stock Down 1.7%

NYSE:CRM traded down $4.24 during midday trading on Tuesday, reaching $245.45. 4,952,816 shares of the stock traded hands, compared to its average volume of 7,595,769. Salesforce Inc. has a 12-month low of $226.48 and a 12-month high of $369.00. The business has a 50-day moving average of $250.58 and a two-hundred day moving average of $262.38. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a market capitalization of $233.67 billion, a PE ratio of 35.67, a price-to-earnings-growth ratio of 2.25 and a beta of 1.22.

Salesforce (NYSE:CRM - Get Free Report) last posted its earnings results on Wednesday, September 3rd. The CRM provider reported $2.91 EPS for the quarter, beating analysts' consensus estimates of $2.78 by $0.13. Salesforce had a net margin of 16.87% and a return on equity of 13.27%. The company had revenue of $10.24 billion during the quarter, compared to analysts' expectations of $10.14 billion. During the same quarter in the prior year, the company posted $2.56 earnings per share. Salesforce's revenue for the quarter was up 9.8% compared to the same quarter last year. Salesforce has set its FY 2026 guidance at 11.330-11.370 EPS. Q3 2026 guidance at 2.840-2.860 EPS. On average, equities analysts forecast that Salesforce Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Wednesday, September 17th will be given a dividend of $0.416 per share. The ex-dividend date of this dividend is Wednesday, September 17th. This represents a $1.66 dividend on an annualized basis and a yield of 0.7%. Salesforce's dividend payout ratio is presently 24.13%.

Salesforce Profile

Salesforce, Inc provides Customer Relationship Management (CRM) technology that brings companies and customers together worldwide. The company's service includes sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale.