Maryland State Retirement & Pension System Buys 2,163 Shares of Salesforce Inc. $CRM

Maryland State Retirement & Pension System grew its stake in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 5.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,380 shares of the CRM provider's stock after buying an additional 2,163 shares during the period. Maryland State Retirement & Pension System's holdings in Salesforce were worth $12,375,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Diversified Trust Co increased its position in Salesforce by 30.1% in the second quarter. Diversified Trust Co now owns 27,786 shares of the CRM provider's stock worth $7,577,000 after purchasing an additional 6,430 shares during the last quarter. Neville Rodie & Shaw Inc. increased its position in Salesforce by 4.6% in the second quarter. Neville Rodie & Shaw Inc. now owns 59,970 shares of the CRM provider's stock worth $16,353,000 after purchasing an additional 2,644 shares during the last quarter. AG2R LA Mondiale Gestion D Actifs bought a new stake in Salesforce in the first quarter worth $9,367,000. Jones Financial Companies Lllp boosted its stake in Salesforce by 31.2% during the first quarter. Jones Financial Companies Lllp now owns 344,887 shares of the CRM provider's stock worth $93,016,000 after buying an additional 81,916 shares during the period. Finally, Wesbanco Bank Inc. increased its position in Salesforce by 6.8% during the second quarter. Wesbanco Bank Inc. now owns 110,968 shares of the CRM provider's stock valued at $30,260,000 after acquiring an additional 7,091 shares during the last quarter. Institutional investors own 80.43% of the company's stock.

Insider Activity

In related news, Director David Blair Kirk acquired 3,400 shares of the business's stock in a transaction dated Tuesday, September 9th. The shares were purchased at an average price of $254.66 per share, for a total transaction of $865,844.00. Following the completion of the acquisition, the director directly owned 3,824 shares in the company, valued at $973,819.84. The trade was a 801.89% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Marc Benioff sold 2,250 shares of the company's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $252.42, for a total transaction of $567,945.00. Following the transaction, the chief executive officer owned 11,911,571 shares in the company, valued at approximately $3,006,718,751.82. This trade represents a 0.02% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 78,750 shares of company stock worth $19,679,535. Corporate insiders own 3.00% of the company's stock.

Salesforce Stock Performance

Shares of Salesforce stock opened at $240.23 on Thursday. The company has a market capitalization of $228.70 billion, a PE ratio of 34.92, a P/E/G ratio of 2.07 and a beta of 1.19. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.12 and a current ratio of 1.12. The company has a 50-day simple moving average of $245.13 and a two-hundred day simple moving average of $259.53. Salesforce Inc. has a one year low of $226.48 and a one year high of $369.00.

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

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Wednesday, September 17th will be issued a dividend of $0.416 per share. The ex-dividend date is Wednesday, September 17th. This represents a $1.66 annualized dividend and a dividend yield of 0.7%. Salesforce's dividend payout ratio is 24.13%.

Wall Street Analysts Forecast Growth

CRM has been the topic of a number of analyst reports. Piper Sandler cut their price objective on shares of Salesforce from $335.00 to $315.00 and set an "overweight" rating on the stock in a research report on Thursday, September 4th. Morgan Stanley boosted their price objective on shares of Salesforce from $404.00 to $405.00 and gave the company an "overweight" rating in a research report on Tuesday, September 2nd. JPMorgan Chase & Co. cut their price objective on shares of Salesforce from $380.00 to $365.00 and set an "overweight" rating on the stock in a research report on Thursday, September 4th. UBS Group cut their price objective on shares of Salesforce from $300.00 to $260.00 and set a "neutral" rating on the stock in a research report on Monday, August 18th. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $325.00 price target on shares of Salesforce in a report on Thursday, September 4th. Twenty-six equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Salesforce has an average rating of "Moderate Buy" and an average target price of $332.58.

Salesforce Company Profile

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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