Littlejohn Financial Services Inc. Makes New Investment in Salesforce Inc. $CRM

Key Points

• Littlejohn Financial Services Inc. made a new investment by acquiring 5,983 shares of Salesforce Inc. valued at approximately $1,632,000 during the second quarter.
• Salesforce recently declared a quarterly dividend of $0.416 per share, with an annualized yield of 0.7%, set to be paid on October 9th.
• Several analysts adjusted their price targets for Salesforce, with the average target now at $332.58 and a general rating of "Moderate Buy."

Littlejohn Financial Services Inc. bought a new position in shares of Salesforce Inc. (NYSE:CRM - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,983 shares of the CRM provider's stock, valued at approximately $1,632,000.

Several other institutional investors have also recently made changes to their positions in CRM. Brighton Jones LLC lifted its position in shares of Salesforce by 13.7% during the fourth quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider's stock worth $8,582,000 after acquiring an additional 3,102 shares in the last quarter. Revolve Wealth Partners LLC lifted its position in shares of Salesforce by 12.6% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,827 shares of the CRM provider's stock worth $611,000 after acquiring an additional 205 shares in the last quarter. Bison Wealth LLC lifted its position in shares of Salesforce by 9.0% during the fourth quarter. Bison Wealth LLC now owns 2,234 shares of the CRM provider's stock worth $747,000 after acquiring an additional 184 shares in the last quarter. Voloridge Investment Management LLC purchased a new stake in shares of Salesforce during the fourth quarter worth $872,000. Finally, Wood Tarver Financial Group LLC purchased a new stake in shares of Salesforce in the fourth quarter worth $35,000. Hedge funds and other institutional investors own 80.43% of the company's stock.

Insider Transactions at Salesforce

In related news, Director David Blair Kirk acquired 3,400 shares of Salesforce stock in a transaction dated Tuesday, September 9th. The shares were purchased at an average cost of $254.66 per share, with a total value of $865,844.00. Following the completion of the purchase, the director owned 3,824 shares of the company's stock, valued at $973,819.84. This represents a 801.89% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Marc Benioff sold 2,250 shares of the firm's stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $248.19, for a total value of $558,427.50. Following the transaction, the chief executive officer directly owned 11,911,571 shares in the company, valued at $2,956,332,806.49. This trade represents a 0.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 76,500 shares of company stock worth $19,402,583 in the last 90 days. Company insiders own 3.00% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CRM. Stifel Nicolaus lowered their price objective on Salesforce from $375.00 to $325.00 and set a "buy" rating on the stock in a research report on Wednesday, August 13th. Oppenheimer lowered their price objective on Salesforce from $370.00 to $315.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 26th. Sanford C. Bernstein lowered their price objective on Salesforce from $255.00 to $221.00 and set an "underperform" rating on the stock in a research report on Thursday, September 4th. Needham & Company LLC reiterated a "buy" rating and issued a $400.00 price objective on shares of Salesforce in a research report on Thursday, September 4th. Finally, KeyCorp lowered their price objective on Salesforce from $440.00 to $400.00 and set an "overweight" rating on the stock in a research report on Thursday, September 4th. One analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $332.58.

Salesforce Trading Up 0.5%

NYSE CRM opened at $245.85 on Thursday. The stock's 50-day simple moving average is $250.07 and its two-hundred day simple moving average is $262.14. Salesforce Inc. has a twelve month low of $226.48 and a twelve month high of $369.00. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $234.05 billion, a price-to-earnings ratio of 35.73, a PEG ratio of 2.23 and a beta of 1.22.

Salesforce (NYSE:CRM - Get Free Report) last released its quarterly earnings results on Wednesday, September 3rd. The CRM provider reported $2.91 earnings per share for the quarter, beating analysts' consensus estimates of $2.78 by $0.13. Salesforce had a return on equity of 13.27% and a net margin of 16.87%.The business had revenue of $10.24 billion for the quarter, compared to the consensus estimate of $10.14 billion. During the same quarter last year, the business posted $2.56 earnings per share. 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. Research analysts forecast that Salesforce Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Dividend Announcement

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

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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