Clark Capital Management Group Inc. Decreases Stock Holdings in Salesforce Inc. $CRM

Key Points

• Clark Capital Management Group Inc. has reduced its stake in Salesforce Inc. by 49.8%, selling 13,449 shares during the first quarter and holding 13,569 shares worth approximately $3.64 million at the end of the quarter.
• Several analysts have a positive outlook for Salesforce, with 25 analysts giving a "Buy" rating and a consensus target price of $331.34, despite some adjusting their target prices downwards.
• Salesforce recently announced a quarterly dividend of $0.416, averaging to an annual yield of 0.7%, with a dividend payout ratio of 25.98%.

Clark Capital Management Group Inc. decreased its position in Salesforce Inc. (NYSE:CRM - Free Report) by 49.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,569 shares of the CRM provider's stock after selling 13,449 shares during the period. Clark Capital Management Group Inc.'s holdings in Salesforce were worth $3,641,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. purchased a new position in Salesforce in the 4th quarter worth $25,000. Capital A Wealth Management LLC raised 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 acquiring an additional 90 shares during the last quarter. CBIZ Investment Advisory Services LLC raised 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 acquiring an additional 85 shares during the last quarter. Abound Financial LLC purchased a new position in Salesforce in the 1st quarter worth $31,000. Finally, Wood Tarver Financial Group LLC acquired a new stake in Salesforce during the 4th quarter worth about $35,000. Hedge funds and other institutional investors own 80.43% of the company's stock.

Salesforce Price Performance

Shares of NYSE:CRM traded up $6.39 during trading on Friday, reaching $250.40. 13,010,920 shares of the company's stock traded hands, compared to its average volume of 9,974,317. Salesforce Inc. has a fifty-two week low of $226.48 and a fifty-two week high of $369.00. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.14. The firm has a market cap of $238.38 billion, a PE ratio of 36.40, a P/E/G ratio of 2.29 and a beta of 1.22. The company has a 50-day simple moving average of $255.64 and a 200-day simple moving average of $266.68.

Salesforce (NYSE:CRM - Get Free Report) last posted its quarterly earnings data on Wednesday, September 3rd. The CRM provider reported $2.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.78 by $0.13. Salesforce had a return on equity of 13.27% and a net margin of 16.87%.The company had revenue of $10.24 billion for the quarter, compared to analysts' expectations of $10.14 billion. During the same period in the previous year, the firm posted $2.56 EPS. Salesforce's revenue 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. As a group, analysts predict that Salesforce Inc. will post 7.46 earnings per share for the current year.

Salesforce Announces Dividend

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

Insider Transactions at Salesforce

In related news, CEO Marc Benioff sold 2,250 shares of Salesforce stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $241.50, for a total value of $543,375.00. Following the sale, the chief executive officer directly owned 11,911,571 shares in the company, valued at approximately $2,876,644,396.50. The trade was a 0.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders sold 66,077 shares of company stock valued at $16,885,773. Insiders own 3.00% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. DA Davidson raised Salesforce from an "underperform" rating to a "neutral" rating and set a $225.00 price target on the stock in a research report on Friday, August 15th. Needham & Company LLC reaffirmed a "buy" rating and set a $400.00 price target on shares of Salesforce in a research report on Thursday. Sanford C. Bernstein cut their price target on Salesforce from $255.00 to $221.00 and set an "underperform" rating on the stock in a research report on Thursday. Bank of America cut their price target on Salesforce from $350.00 to $325.00 and set a "buy" rating on the stock in a research report on Tuesday, August 26th. Finally, Oppenheimer cut their price target on Salesforce from $370.00 to $315.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $331.34.

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.