Community Trust & Investment Co. Grows Stock Holdings in Salesforce Inc. $CRM

Key Points

• Community Trust & Investment Co. increased its holdings in Salesforce Inc. by 10.4%, owning 97,510 shares valued at approximately $26.59 million.
• Salesforce's recent earnings report showed an EPS of $2.91, exceeding expectations, with a revenue of $10.24 billion, up by 9.8% year-over-year.
• The company declared a quarterly dividend of $0.416 per share, with payment set for October 9th, reflecting a 0.7% dividend yield.

Community Trust & Investment Co. increased its stake in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 10.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 97,510 shares of the CRM provider's stock after purchasing an additional 9,210 shares during the period. Salesforce makes up 1.5% of Community Trust & Investment Co.'s investment portfolio, making the stock its 13th largest holding. Community Trust & Investment Co.'s holdings in Salesforce were worth $26,590,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CRM. Atticus Wealth Management LLC grew its position in Salesforce by 5,892.3% in the 2nd quarter. Atticus Wealth Management LLC now owns 779 shares of the CRM provider's stock worth $212,000 after purchasing an additional 766 shares during the period. Mn Services Vermogensbeheer B.V. boosted its stake in shares of Salesforce by 1.0% in the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 359,300 shares of the CRM provider's stock worth $97,978,000 after buying an additional 3,400 shares during the last quarter. RFG Holdings Inc. grew its holdings in shares of Salesforce by 32.6% in the second quarter. RFG Holdings Inc. now owns 4,199 shares of the CRM provider's stock worth $1,145,000 after acquiring an additional 1,032 shares during the period. Swedbank AB grew its holdings in shares of Salesforce by 2.4% in the second quarter. Swedbank AB now owns 3,024,858 shares of the CRM provider's stock worth $824,849,000 after acquiring an additional 70,815 shares during the period. Finally, Compton Wealth Advisory Group LLC increased its position in Salesforce by 5.2% during the second quarter. Compton Wealth Advisory Group LLC now owns 8,720 shares of the CRM provider's stock valued at $2,378,000 after acquiring an additional 431 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Piper Sandler cut their price target on Salesforce from $335.00 to $315.00 and set an "overweight" rating for the company in a research note on Thursday, September 4th. UBS Group cut their target price on shares of Salesforce from $300.00 to $260.00 and set a "neutral" rating for the company in a research report on Monday, August 18th. JPMorgan Chase & Co. decreased their price target on shares of Salesforce from $380.00 to $365.00 and set an "overweight" rating on the stock in a research report on Thursday, September 4th. Erste Group Bank downgraded shares of Salesforce from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. Finally, Bank of America decreased their target price on Salesforce from $350.00 to $325.00 and set a "buy" rating on the stock in a report on Tuesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Salesforce currently has an average rating of "Moderate Buy" and an average price target of $332.58.

Salesforce Price Performance

CRM stock traded up $2.26 during trading on Thursday, reaching $244.47. The company's stock had a trading volume of 9,335,499 shares, compared to its average volume of 9,778,364. 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 company's fifty day moving average is $251.00 and its 200-day moving average is $263.25. The company has a market capitalization of $232.73 billion, a P/E ratio of 35.53, a price-to-earnings-growth ratio of 2.21 and a beta of 1.22. Salesforce Inc. has a 1 year low of $226.48 and a 1 year high of $369.00.

Salesforce (NYSE:CRM - Get Free Report) last released its quarterly earnings data on Wednesday, September 3rd. The CRM provider reported $2.91 earnings per share for the quarter, topping analysts' consensus estimates of $2.78 by $0.13. The firm had revenue of $10.24 billion during the quarter, compared to analyst estimates of $10.14 billion. Salesforce had a return on equity of 13.27% and a net margin of 16.87%.The business's quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the company 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 expect that Salesforce Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Announces Dividend

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

Insiders Place Their Bets

In other Salesforce news, CEO Marc Benioff sold 2,250 shares of Salesforce stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $257.02, for a total value of $578,295.00. Following the sale, the chief executive officer directly owned 11,911,571 shares in the company, valued at approximately $3,061,511,978.42. The trade was a 0.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director David Blair Kirk purchased 3,400 shares of the firm's stock in a transaction on Tuesday, September 9th. The stock was bought at an average price of $254.66 per share, for a total transaction of $865,844.00. Following the purchase, the director owned 3,824 shares in the company, 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. In the last 90 days, insiders have sold 75,077 shares of company stock valued at $19,099,953. 3.00% of the stock is owned by company insiders.

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.