Concord Investment Counsel Inc. Has $44,000 Stock Holdings in Salesforce Inc. $CRM

Key Points

• Concord Investment Counsel Inc. slashed its Salesforce stake by 99% in the fourth quarter, ending with just 166 shares valued at about $44,000.
• Salesforce reported a strong quarter, with EPS of $3.88 topping estimates and revenue of $11.13 billion also beating expectations. Revenue rose 13.3% year over year, and the company raised its FY2027 and Q2 2027 guidance.
• The company continues to reward shareholders and signal confidence through a $25 billion buyback authorization and a quarterly dividend of $0.44 per share. Meanwhile, analysts remain mixed but generally constructive, with a consensus rating of Moderate Buy.

Concord Investment Counsel Inc. cut its stake in Salesforce Inc. (NYSE:CRM - Free Report) by 99.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 166 shares of the CRM provider's stock after selling 17,204 shares during the quarter. Concord Investment Counsel Inc.'s holdings in Salesforce were worth $44,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Salesforce by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 89,843,166 shares of the CRM provider's stock worth $23,800,353,000 after acquiring an additional 270,913 shares during the last quarter. State Street Corp increased its stake in shares of Salesforce by 0.3% in the third quarter. State Street Corp now owns 49,420,657 shares of the CRM provider's stock worth $11,732,966,000 after acquiring an additional 159,739 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Salesforce by 3.8% in the fourth quarter. Geode Capital Management LLC now owns 21,782,556 shares of the CRM provider's stock worth $5,751,073,000 after acquiring an additional 791,345 shares during the last quarter. Capital International Investors increased its stake in shares of Salesforce by 9.4% in the third quarter. Capital International Investors now owns 20,051,119 shares of the CRM provider's stock worth $4,753,519,000 after acquiring an additional 1,729,440 shares during the last quarter. Finally, Capital World Investors increased its position in Salesforce by 159.0% during the third quarter. Capital World Investors now owns 17,325,206 shares of the CRM provider's stock worth $4,106,255,000 after buying an additional 10,636,161 shares during the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Trading Down 0.7%

Shares of NYSE:CRM opened at $176.30 on Friday. The company has a market cap of $144.26 billion, a P/E ratio of 20.41, a P/E/G ratio of 1.23 and a beta of 1.14. The stock's 50-day moving average is $180.84 and its 200-day moving average is $210.72. Salesforce Inc. has a 52-week low of $163.52 and a 52-week high of $276.80. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.76 and a current ratio of 0.76.

Salesforce (NYSE:CRM - Get Free Report) last issued its quarterly earnings results on Wednesday, May 27th. The CRM provider reported $3.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.13 by $0.75. The company had revenue of $11.13 billion for the quarter, compared to the consensus estimate of $11.05 billion. Salesforce had a return on equity of 16.70% and a net margin of 18.73%.The firm's revenue was up 13.3% compared to the same quarter last year. During the same period last year, the business posted $2.58 earnings per share. Salesforce has set its FY 2027 guidance at 14.060-14.120 EPS and its Q2 2027 guidance at 3.250-3.270 EPS. Equities research analysts predict that Salesforce Inc. will post 9.72 earnings per share for the current year.

Salesforce announced that its board has authorized a stock buyback plan on Monday, March 16th that authorizes the company to repurchase $25.00 billion in shares. This repurchase authorization authorizes the CRM provider to reacquire up to 14.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board believes its shares are undervalued.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Thursday, June 11th will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Thursday, June 11th. Salesforce's dividend payout ratio (DPR) is currently 22.54%.

More Salesforce News

Here are the key news stories impacting Salesforce this week:

• Positive Sentiment: Salesforce beat Q1 earnings and revenue estimates, raised full-year profit guidance, and said Agentforce ARR passed $1 billion, reinforcing momentum in its AI strategy.
• Positive Sentiment: The company announced a $25 billion accelerated buyback, which should provide direct support to shareholder returns and may help limit downside.
• Positive Sentiment: Several analysts remained constructive, with firms like Wedbush, Piper Sandler, Cantor Fitzgerald, and B. Riley reiterating bullish ratings and high price targets despite trimming estimates.
• Neutral Sentiment: Citigroup and other banks lowered price targets modestly, but most still kept neutral-to-positive views, suggesting the Street is resetting expectations rather than turning outright bearish.
• Negative Sentiment: The stock is being held back by slightly light revenue guidance and continued investor concern that AI competition could pressure Salesforce’s growth profile over time.

Insider Activity

In other Salesforce news, Director Laura Alber purchased 2,571 shares of the stock in a transaction dated Thursday, March 19th. The shares were bought at an average cost of $194.58 per share, with a total value of $500,265.18. Following the completion of the transaction, the director owned 9,530 shares in the company, valued at $1,854,347.40. This trade represents a 36.94% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David Blair Kirk purchased 2,570 shares of the stock in a transaction dated Wednesday, March 18th. The stock was acquired at an average cost of $194.62 per share, for a total transaction of $500,173.40. Following the completion of the transaction, the director owned 13,689 shares of the company's stock, valued at $2,664,153.18. The trade was a 23.11% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 3.50% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Morgan Stanley lowered their target price on shares of Salesforce from $398.00 to $287.00 and set an "overweight" rating on the stock in a research report on Monday, February 23rd. Jefferies Financial Group reissued a "buy" rating on shares of Salesforce in a research report on Tuesday. B. Riley Financial increased their target price on shares of Salesforce from $205.00 to $240.00 and gave the stock a "buy" rating in a research report on Thursday. Piper Sandler downgraded shares of Salesforce from an "overweight" rating to a "neutral" rating in a research report on Thursday. Finally, Roth Mkm reissued a "buy" rating and set a $325.00 target price on shares of Salesforce in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Salesforce presently has a consensus rating of "Moderate Buy" and a consensus target price of $259.47.

Salesforce Company 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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