Glenmede Trust Co. NA Has $39.34 Million Stock Holdings in Salesforce Inc. $CRM

Glenmede Trust Co. NA trimmed its stake in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 11.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 210,717 shares of the CRM provider's stock after selling 27,232 shares during the period. Glenmede Trust Co. NA's holdings in Salesforce were worth $39,335,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Macquarie Infrastructure cut their price target on shares of Salesforce from $200.00 to $190.00 and set a "neutral" rating on the stock in a report on Thursday, May 28th. Wall Street Zen lowered shares of Salesforce from a "buy" rating to a "hold" rating in a research note on Saturday. Wells Fargo & Company lowered their price objective on shares of Salesforce from $210.00 to $200.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 28th. Wedbush began coverage on shares of Salesforce in a research note on Wednesday, July 1st. They set an "outperform" rating on the stock. Finally, Sanford C. Bernstein reduced their target price on Salesforce from $194.00 to $173.00 and set an "underperform" rating for the company in a report on Thursday, May 28th. 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 assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $249.51.

Salesforce Stock Performance

CRM stock opened at $184.34 on Friday. The firm has a 50 day simple moving average of $170.34 and a 200 day simple moving average of $185.01. Salesforce Inc. has a 52 week low of $146.32 and a 52 week high of $269.11. The stock has a market cap of $150.98 billion, a P/E ratio of 21.34, a P/E/G ratio of 0.98 and a beta of 1.18. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.79 and a current ratio of 0.79.

Salesforce (NYSE:CRM - Get Free Report) last released its quarterly earnings data on Wednesday, May 27th. The CRM provider reported $3.88 earnings per share for the quarter, beating the consensus estimate of $3.13 by $0.75. Salesforce had a net margin of 18.73% and a return on equity of 18.72%. The firm 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 business earned $2.58 EPS. The company'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. Research analysts anticipate that Salesforce Inc. will post 10.27 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Thursday, June 11th were paid a $0.44 dividend. The ex-dividend date of this dividend was Thursday, June 11th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.0%. Salesforce's dividend payout ratio is 20.37%.

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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