Heartland Bank & Trust Co Has $1.08 Million Stock Holdings in Salesforce Inc. $CRM

Key Points

• Heartland Bank & Trust Co boosted its Salesforce stake by 343.9% in the first quarter, ending with 5,811 shares valued at about $1.085 million.
• Analyst sentiment is mixed but still generally positive: Salesforce has a Moderate Buy consensus, with 28 Buy/Strong Buy ratings versus 14 Holds and 3 Sells, and an average price target of $254.42.
• Salesforce reported stronger-than-expected quarterly results, with EPS of $3.88 on revenue of $11.13 billion, while the stock recently traded around $171.20 and offers a quarterly dividend of $0.44 per share.

Heartland Bank & Trust Co increased its holdings in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 343.9% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,811 shares of the CRM provider's stock after purchasing an additional 4,502 shares during the quarter. Heartland Bank & Trust Co's holdings in Salesforce were worth $1,085,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Zhang Financial LLC boosted its holdings in shares of Salesforce by 31.4% in the first quarter. Zhang Financial LLC now owns 13,449 shares of the CRM provider's stock valued at $2,510,000 after buying an additional 3,215 shares during the period. Kera Capital Partners Inc. raised its holdings in shares of Salesforce by 12.8% during the first quarter. Kera Capital Partners Inc. now owns 2,408 shares of the CRM provider's stock worth $450,000 after acquiring an additional 273 shares during the period. Gryphon Financial Partners LLC raised its holdings in shares of Salesforce by 12.9% during the first quarter. Gryphon Financial Partners LLC now owns 3,430 shares of the CRM provider's stock worth $640,000 after acquiring an additional 392 shares during the period. Assetmark Inc. lifted its position in Salesforce by 4.5% in the 1st quarter. Assetmark Inc. now owns 141,158 shares of the CRM provider's stock valued at $26,350,000 after acquiring an additional 6,076 shares in the last quarter. Finally, PeakShares LLC lifted its position in Salesforce by 45.8% in the 1st quarter. PeakShares LLC now owns 8,070 shares of the CRM provider's stock valued at $1,506,000 after acquiring an additional 2,534 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CRM shares. Wolfe Research cut Salesforce from an "outperform" rating to a "hold" rating in a report on Wednesday, July 1st. Phillip Securities lowered Salesforce from a "buy" rating to a "hold" rating and cut their price target for the company from $253.00 to $166.00 in a report on Monday, June 29th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $250.00 price objective on shares of Salesforce in a research report on Thursday, May 28th. Canaccord Genuity Group reiterated a "buy" rating and set a $225.00 price objective on shares of Salesforce in a report on Tuesday, June 16th. Finally, Evercore reissued an "outperform" rating on shares of Salesforce in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, fourteen have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Salesforce currently has a consensus rating of "Moderate Buy" and an average target price of $254.42.

Salesforce Stock Down 0.9%

Shares of CRM stock opened at $171.20 on Friday. The firm's fifty day moving average price is $170.64 and its two-hundred day moving average price is $191.20. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.15. Salesforce Inc. has a 1 year low of $146.32 and a 1 year high of $274.00. The firm has a market capitalization of $140.21 billion, a P/E ratio of 19.82, a PEG ratio of 0.93 and a beta of 1.18.

Salesforce (NYSE:CRM - Get Free Report) last posted its quarterly earnings data on Wednesday, May 27th. The CRM provider reported $3.88 EPS for the quarter, topping analysts' consensus estimates of $3.13 by $0.75. The company had revenue of $11.13 billion during the quarter, compared to the consensus estimate of $11.05 billion. Salesforce had a net margin of 18.73% and a return on equity of 18.72%. The company's quarterly revenue was up 13.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.58 EPS. Salesforce has set its FY 2027 guidance at 14.060-14.120 EPS and its Q2 2027 guidance at 3.250-3.270 EPS. On average, equities analysts predict that Salesforce Inc. will post 10.29 EPS for the current fiscal year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Investors 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 yield of 1.0%. Salesforce's dividend payout ratio is 20.37%.

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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