First Financial Bank Trust Division Decreases Stock Holdings in Salesforce Inc. $CRM

First Financial Bank Trust Division reduced its position in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 15.7% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 17,315 shares of the CRM provider's stock after selling 3,226 shares during the quarter. First Financial Bank Trust Division's holdings in Salesforce were worth $2,713,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Fred Alger Management LLC raised its stake in shares of Salesforce by 0.3% during the third quarter. Fred Alger Management LLC now owns 14,943 shares of the CRM provider's stock valued at $3,548,000 after acquiring an additional 45 shares during the last quarter. Richards Merrill & Peterson Inc. increased its holdings in Salesforce by 1.1% during the 4th quarter. Richards Merrill & Peterson Inc. now owns 4,239 shares of the CRM provider's stock valued at $1,123,000 after purchasing an additional 46 shares during the period. Wright Investors Service Inc. raised its position in Salesforce by 0.8% during the 4th quarter. Wright Investors Service Inc. now owns 6,186 shares of the CRM provider's stock valued at $1,639,000 after purchasing an additional 47 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC raised its position in Salesforce by 6.9% during the 4th quarter. Mowery & Schoenfeld Wealth Management LLC now owns 745 shares of the CRM provider's stock valued at $197,000 after purchasing an additional 48 shares during the last quarter. Finally, Synergy Financial Group LTD lifted its holdings in Salesforce by 2.4% in the 3rd quarter. Synergy Financial Group LTD now owns 2,035 shares of the CRM provider's stock worth $482,000 after buying an additional 48 shares during the period. Hedge funds and other institutional investors own 80.43% of the company's stock.

Salesforce Trading Up 1.2%

NYSE CRM opened at $186.20 on Tuesday. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.15. Salesforce Inc. has a twelve month low of $146.32 and a twelve month high of $269.11. The firm has a market capitalization of $152.50 billion, a PE ratio of 21.55, a P/E/G ratio of 1.00 and a beta of 1.16. The stock's 50 day moving average is $170.46 and its 200 day moving average is $184.10.

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

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Thursday, June 11th were issued a $0.44 dividend. The ex-dividend date of this dividend was Thursday, June 11th. This represents a $1.76 annualized dividend and a yield of 0.9%. Salesforce's payout ratio is 20.37%.

Wall Street Analyst Weigh In

CRM has been the topic of several research analyst reports. Bank of America began coverage on Salesforce in a research note on Monday, May 18th. They set an "underperform" rating and a $160.00 target price on the stock. Scotiabank lowered Salesforce from a "sector outperform" rating to a "sector perform" rating in a research note on Thursday, June 18th. KeyCorp cut shares of Salesforce from an "overweight" rating to a "sector weight" rating in a report on Wednesday, July 8th. Truist Financial downgraded shares of Salesforce from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 1st. Finally, Daiwa Securities Group dropped their target price on shares of Salesforce from $295.00 to $280.00 and set a "buy" rating for the company in a research report on Tuesday, June 2nd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, sixteen have assigned a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, Salesforce presently has an average rating of "Moderate Buy" and a consensus price target of $249.51.

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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