Bartlett & CO. Wealth Management LLC Buys 8,950 Shares of Salesforce Inc. $CRM

Key Points

• Bartlett & CO. Wealth Management LLC increased its stake in Salesforce Inc. by 3.6%, buying an additional 8,950 shares, which now totals 260,101 shares worth $71,024,000.
• Salesforce reported earnings of $2.91 per share for the last quarter, surpassing analyst expectations, with revenue reaching $10.24 billion, reflecting a 9.8% increase from the previous year.
• The company declared a quarterly dividend of $0.416 per share, with a payout ratio of 24.13%, to be paid on October 9th to shareholders recorded by September 17th.

Bartlett & CO. Wealth Management LLC raised its stake in Salesforce Inc. (NYSE:CRM - Free Report) by 3.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 260,101 shares of the CRM provider's stock after buying an additional 8,950 shares during the period. Salesforce comprises about 1.0% of Bartlett & CO. Wealth Management LLC's investment portfolio, making the stock its 28th biggest position. Bartlett & CO. Wealth Management LLC's holdings in Salesforce were worth $71,024,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently made changes to their positions in CRM. Nuveen LLC purchased a new stake in shares of Salesforce in the 1st quarter valued at $2,039,196,000. Longview Partners Guernsey LTD purchased a new stake in shares of Salesforce in the 1st quarter valued at $467,944,000. Pacer Advisors Inc. boosted its stake in shares of Salesforce by 1,744.0% in the 1st quarter. Pacer Advisors Inc. now owns 1,820,262 shares of the CRM provider's stock valued at $488,486,000 after purchasing an additional 1,721,550 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Salesforce by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 87,913,628 shares of the CRM provider's stock valued at $23,592,501,000 after purchasing an additional 1,383,942 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. purchased a new stake in shares of Salesforce in the 1st quarter valued at $345,100,000. Hedge funds and other institutional investors own 80.43% of the company's stock.

Insider Activity at Salesforce

In other Salesforce news, CEO Marc Benioff sold 2,250 shares of Salesforce stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $269.11, for a total transaction of $605,497.50. Following the transaction, the chief executive officer owned 11,911,571 shares of the company's stock, valued at $3,205,522,871.81. The trade was a 0.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David Blair Kirk purchased 3,400 shares of the stock in a transaction on Tuesday, September 9th. The shares were purchased at an average cost of $254.66 per share, for a total transaction of $865,844.00. Following the acquisition, the director directly owned 3,824 shares of the company's stock, valued at approximately $973,819.84. This represents a 801.89% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 81,000 shares of company stock worth $20,439,405 in the last ninety days. Insiders own 3.00% of the company's stock.

Salesforce Stock Performance

Shares of NYSE CRM opened at $236.92 on Wednesday. The firm has a 50 day moving average of $248.44 and a 200 day moving average of $261.05. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $225.55 billion, a price-to-earnings ratio of 34.44, a price-to-earnings-growth ratio of 2.23 and a beta of 1.22. Salesforce Inc. has a 12-month low of $226.48 and a 12-month high of $369.00.

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

Salesforce Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CRM. Bank of America dropped their price target on shares of Salesforce from $350.00 to $325.00 and set a "buy" rating for the company in a research report on Tuesday, August 26th. Morgan Stanley increased their price target on shares of Salesforce from $404.00 to $405.00 and gave the company an "overweight" rating in a research report on Tuesday, September 2nd. Royal Bank Of Canada dropped their price target on shares of Salesforce from $275.00 to $250.00 and set a "sector perform" rating for the company in a research report on Thursday, September 4th. Stifel Nicolaus dropped their price target on shares of Salesforce from $375.00 to $325.00 and set a "buy" rating for the company in a research report on Wednesday, August 13th. Finally, Robert W. Baird dropped their price target on shares of Salesforce from $365.00 to $325.00 and set an "outperform" rating for the company in a research report on Thursday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Salesforce currently has an average rating of "Moderate Buy" and a consensus target price of $332.58.

About Salesforce

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.

Want to see what other hedge funds are holding CRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Salesforce Inc. (NYSE:CRM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.