InTrack Investment Management Inc Lowers Holdings in Salesforce Inc. $CRM

InTrack Investment Management Inc decreased its holdings in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 74.4% during the second quarter, according to its most recent filing with the SEC. The firm owned 805 shares of the CRM provider's stock after selling 2,339 shares during the period. InTrack Investment Management Inc's holdings in Salesforce were worth $220,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Coign Capital Advisors LLC raised its holdings in Salesforce by 1.7% in the 1st quarter. Coign Capital Advisors LLC now owns 2,183 shares of the CRM provider's stock valued at $586,000 after acquiring an additional 37 shares during the last quarter. Staley Capital Advisers Inc. increased its holdings in shares of Salesforce by 1.1% during the 1st quarter. Staley Capital Advisers Inc. now owns 3,343 shares of the CRM provider's stock worth $897,000 after buying an additional 38 shares during the last quarter. KDT Advisors LLC increased its holdings in shares of Salesforce by 4.1% during the 1st quarter. KDT Advisors LLC now owns 967 shares of the CRM provider's stock worth $260,000 after buying an additional 38 shares during the last quarter. Liberty One Investment Management LLC increased its holdings in shares of Salesforce by 1.2% during the 1st quarter. Liberty One Investment Management LLC now owns 3,165 shares of the CRM provider's stock worth $849,000 after buying an additional 39 shares during the last quarter. Finally, First Command Advisory Services Inc. increased its holdings in shares of Salesforce by 7.3% during the 1st quarter. First Command Advisory Services Inc. now owns 572 shares of the CRM provider's stock worth $154,000 after buying an additional 39 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CRM. Piper Sandler cut their price target on shares of Salesforce from $335.00 to $315.00 and set an "overweight" rating for the company in a report on Thursday, September 4th. Sanford C. Bernstein dropped their target price on shares of Salesforce from $255.00 to $221.00 and set an "underperform" rating for the company in a report on Thursday, September 4th. JMP Securities reiterated a "market outperform" rating and issued a $430.00 target price on shares of Salesforce in a report on Tuesday, September 2nd. Morgan Stanley lifted their target price on shares of Salesforce from $404.00 to $405.00 and gave the company an "overweight" rating in a report on Tuesday, September 2nd. Finally, Barclays dropped their target price on shares of Salesforce from $347.00 to $316.00 and set an "overweight" rating for the company in a report on Monday, August 18th. Twenty-six investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Salesforce presently has an average rating of "Moderate Buy" and a consensus target price of $332.58.

Salesforce Trading Up 0.2%

Salesforce stock opened at $240.23 on Thursday. The firm's 50-day moving average is $245.13 and its 200-day moving average is $259.53. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.12 and a current ratio of 1.12. Salesforce Inc. has a 1 year low of $226.48 and a 1 year high of $369.00. The company has a market cap of $228.70 billion, a P/E ratio of 34.92, a PEG ratio of 2.07 and a beta of 1.19.

Salesforce (NYSE:CRM - Get Free Report) last posted its quarterly earnings results on Wednesday, September 3rd. The CRM provider reported $2.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.78 by $0.13. Salesforce had a net margin of 16.87% and a return on equity of 13.27%. The company had revenue of $10.24 billion for the quarter, compared to the consensus estimate of $10.14 billion. During the same period last year, the firm posted $2.56 EPS. The company's revenue for the quarter was up 9.8% on a year-over-year basis. Salesforce has set its FY 2026 guidance at 11.330-11.370 EPS. Q3 2026 guidance at 2.840-2.860 EPS. On average, equities analysts expect that Salesforce Inc. will post 7.46 earnings per share for the current year.

Salesforce Dividend Announcement

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

Insider Buying and Selling at Salesforce

In related news, CEO Marc Benioff sold 2,250 shares of the stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $241.32, for a total value of $542,970.00. Following the sale, the chief executive officer owned 11,911,571 shares of the company's stock, valued at $2,874,500,313.72. This trade represents a 0.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders have sold 78,750 shares of company stock valued at $19,679,535. 3.00% of the stock is owned by company insiders.

About Salesforce

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.

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