Community Trust & Investment Co. Acquires 12,985 Shares of Salesforce Inc. $CRM

Key Points

• Community Trust & Investment Co. increased its Salesforce stake by 11.2% in the second quarter, purchasing 12,985 shares for a total holding of 129,253 shares valued at approximately $20.25 million. Institutional investors collectively own 80.43% of Salesforce.
• Salesforce reported quarterly revenue of $11.13 billion and adjusted EPS of $3.88, exceeding analyst estimates, while revenue grew 13.3% year over year. The company also pays a quarterly dividend of $0.44 per share, representing a 0.9% yield.
• Analysts maintain a generally positive outlook, with Salesforce carrying a “Moderate Buy” consensus rating and an average price target of $249.51, compared with shares trading at $192.48.

Community Trust & Investment Co. lifted its stake in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 11.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 129,253 shares of the CRM provider's stock after purchasing an additional 12,985 shares during the quarter. Salesforce accounts for about 1.0% of Community Trust & Investment Co.'s portfolio, making the stock its 29th largest position. Community Trust & Investment Co.'s holdings in Salesforce were worth $20,249,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Commonwealth Retirement Investments LLC acquired a new position in Salesforce in the 4th quarter worth about $25,000. Key Capital Management INC acquired a new stake in shares of Salesforce during the fourth quarter valued at about $26,000. Gilpin Wealth Management LLC bought a new stake in shares of Salesforce during the fourth quarter worth about $26,000. Legacy Bridge LLC acquired a new position in shares of Salesforce in the fourth quarter valued at approximately $27,000. Finally, Costello Asset Management INC raised its holdings in Salesforce by 410.3% in the 1st quarter. Costello Asset Management INC now owns 148 shares of the CRM provider's stock valued at $28,000 after buying an additional 119 shares during the last quarter. Institutional investors own 80.43% of the company's stock.

Salesforce Stock Performance

Shares of Salesforce stock opened at $192.48 on Friday. The business has a 50-day moving average price of $171.23 and a two-hundred day moving average price of $183.26. Salesforce Inc. has a 1-year low of $146.32 and a 1-year high of $269.11. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.15. The company has a market cap of $157.64 billion, a P/E ratio of 22.28, a PEG ratio of 1.01 and a beta of 1.16.

Salesforce (NYSE:CRM - Get Free Report) last announced its earnings results on Wednesday, May 27th. The CRM provider reported $3.88 EPS for the quarter, beating the consensus estimate of $3.13 by $0.75. Salesforce had a return on equity of 18.72% and a net margin of 18.73%.The company had revenue of $11.13 billion for the quarter, compared to analyst estimates of $11.05 billion. During the same quarter in the prior year, the company earned $2.58 EPS. The firm's revenue for the quarter was up 13.3% compared to the same quarter last year. 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, analysts anticipate that Salesforce Inc. will post 10.27 EPS for the current year.

Salesforce Dividend Announcement

The business 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 of this dividend was Thursday, June 11th. This represents a $1.76 annualized dividend and a dividend yield of 0.9%. Salesforce's dividend payout ratio (DPR) is 20.37%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CRM shares. Needham & Company LLC reissued a "buy" rating on shares of Salesforce in a report on Tuesday, June 16th. CLSA assumed coverage on shares of Salesforce in a research note on Monday, July 20th. They issued a "hold" rating and a $165.00 price objective on the stock. Citizens Jmp restated a "market outperform" rating and issued a $315.00 price objective on shares of Salesforce in a report on Thursday, May 28th. Citigroup raised Salesforce from a "hold" rating to a "buy" rating in a research report on Wednesday, July 1st. Finally, Morgan Stanley reiterated an "equal weight" rating and issued a $185.00 price target (down from $287.00) on shares of Salesforce in a research report on Tuesday, July 21st. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, sixteen have given a Hold rating and four have issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $249.51.

Salesforce 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.

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