NEOS Investment Management LLC Buys 16,660 Shares of Salesforce Inc. $CRM

Key Points

• NEOS Investment Management increased its Salesforce stake by 12.1% in the second quarter, adding 16,660 shares for a total of 153,886 shares valued at approximately $24.1 million. Institutional investors collectively own 80.43% of Salesforce.
• Salesforce reported quarterly adjusted EPS of $5.90, well above the $3.27 analyst consensus, while revenue reached $11.35 billion, up 10.8% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $266.50.
• The company declared a $0.44 quarterly dividend, equivalent to $1.76 annually and a 0.7% yield, payable October 8 to shareholders of record on September 17.

NEOS Investment Management LLC increased its position in Salesforce Inc. (NYSE:CRM - Free Report) by 12.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 153,886 shares of the CRM provider's stock after purchasing an additional 16,660 shares during the period. NEOS Investment Management LLC's holdings in Salesforce were worth $24,108,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in shares of Salesforce during the 2nd quarter valued at about $11,396,844,000. J. Stern & Co. LLP lifted its stake in Salesforce by 24,056.7% in the 4th quarter. J. Stern & Co. LLP now owns 47,385,511 shares of the CRM provider's stock worth $12,552,896,000 after purchasing an additional 47,189,352 shares in the last quarter. Bank of America Corp DE purchased a new position in shares of Salesforce in the 2nd quarter worth $1,914,086,000. Norges Bank purchased a new stake in Salesforce during the fourth quarter valued at approximately $3,182,951,000. Finally, Arrowstreet Capital Limited Partnership increased its position in Salesforce by 130.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 12,659,217 shares of the CRM provider's stock valued at $2,363,096,000 after acquiring an additional 7,160,302 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company's stock.

Salesforce Price Performance

Shares of CRM opened at $259.39 on Friday. The business's 50-day moving average is $191.88 and its two-hundred day moving average is $185.00. The company has a market capitalization of $213.48 billion, a P/E ratio of 23.65, a P/E/G ratio of 1.23 and a beta of 1.20. Salesforce Inc. has a fifty-two week low of $146.32 and a fifty-two week high of $269.11. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.84 and a current ratio of 0.84.

Salesforce (NYSE:CRM - Get Free Report) last issued its earnings results on Wednesday, August 26th. The CRM provider reported $5.90 EPS for the quarter, topping analysts' consensus estimates of $3.27 by $2.63. The firm had revenue of $11.35 billion for the quarter, compared to the consensus estimate of $11.33 billion. Salesforce had a return on equity of 24.90% and a net margin of 21.99%.The company's revenue was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.91 earnings per share. Salesforce has set its FY 2027 guidance at 16.670-16.710 EPS and its Q3 2027 guidance at 3.420-3.440 EPS. Research analysts predict that Salesforce Inc. will post 12.64 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 8th. Shareholders of record on Thursday, September 17th will be given a $0.44 dividend. The ex-dividend date is Thursday, September 17th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.7%. Salesforce's dividend payout ratio is 16.04%.

Analysts Set New Price Targets

A number of brokerages have weighed in on CRM. Evercore reaffirmed an "outperform" rating on shares of Salesforce in a research report on Thursday, August 27th. DA Davidson boosted their price target on Salesforce from $175.00 to $200.00 and gave the stock a "neutral" rating in a research note on Thursday, August 27th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Salesforce in a research note on Thursday, August 27th. Wedbush initiated coverage on Salesforce in a research note on Wednesday, July 1st. They issued an "outperform" rating for the company. Finally, Susquehanna initiated coverage on Salesforce in a research note on Wednesday, July 1st. They set a "neutral" rating on the stock. Three research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, fifteen have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Salesforce has an average rating of "Moderate Buy" and a consensus target price of $266.50.

Insider Buying and Selling

In other news, Director Craig Conway sold 4,500 shares of the business's stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $260.61, for a total value of $1,172,745.00. Following the completion of the sale, the director directly owned 5,437 shares in the company, valued at $1,416,936.57. The trade was a 45.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 3.50% of the company's stock.

Salesforce News Roundup

Here are the key news stories impacting Salesforce this week:

• Positive Sentiment: AI growth is becoming material: Agentforce and Data 360 annual recurring revenue reached nearly $3.9 billion, up more than 210% year over year. Agentforce ARR exceeded $1.5 billion and grew more than 240%, supporting the view that Salesforce is successfully monetizing artificial intelligence. Salesforce Grew Agentforce and Data 360 ARR More Than 200%
• Positive Sentiment: Analyst support remains strong: Cantor Fitzgerald raised its Salesforce price target to $300, while BTIG reaffirmed its “Buy” rating and said it is increasingly confident in improving business trends. Cantor Fitzgerald Raises Salesforce Price Target
• Positive Sentiment: Shareholder returns: Salesforce declared a quarterly cash dividend of $0.44 per share, payable October 8 to shareholders of record September 17. The dividend provides a modest income component and signals continued confidence in cash generation. Salesforce Announces Quarterly Dividend

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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