RNC Capital Management LLC Buys 14,976 Shares of Salesforce Inc. $CRM

Key Points

• RNC Capital Management LLC significantly increased its investment in Salesforce, raising its stake by 2,225.3% in Q1, now holding 15,649 shares worth $4.2 million.
• Salesforce's earnings report for the last quarter revealed an EPS of $2.91, exceeding estimates and representing a 9.8% increase in revenue year-over-year.
• Analysts have mixed views on Salesforce's stock, with the average price target set at $331.34 and ratings varying from Strong Buy to Sell.

RNC Capital Management LLC boosted its holdings in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 2,225.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,649 shares of the CRM provider's stock after buying an additional 14,976 shares during the period. RNC Capital Management LLC's holdings in Salesforce were worth $4,200,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of Salesforce by 1.6% during the first quarter. Vanguard Group Inc. now owns 87,913,628 shares of the CRM provider's stock worth $23,592,501,000 after purchasing an additional 1,383,942 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Salesforce by 5.1% in the first quarter. Goldman Sachs Group Inc. now owns 9,014,148 shares of the CRM provider's stock valued at $2,419,037,000 after purchasing an additional 437,435 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Salesforce by 7.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,658,132 shares of the CRM provider's stock valued at $2,894,673,000 after purchasing an additional 602,445 shares during the last quarter. Nuveen Asset Management LLC grew its stake in Salesforce by 1.3% in the 4th quarter. Nuveen Asset Management LLC now owns 8,598,989 shares of the CRM provider's stock worth $2,874,900,000 after buying an additional 114,278 shares in the last quarter. Finally, Nuveen LLC bought a new position in shares of Salesforce in the 1st quarter worth $2,039,196,000. 80.43% of the stock is currently owned by institutional investors.

Insider Activity at Salesforce

In related news, CEO Marc Benioff sold 2,250 shares of Salesforce stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $257.02, for a total transaction of $578,295.00. Following the sale, the chief executive officer directly owned 11,911,571 shares in the company, valued at $3,061,511,978.42. The trade was a 0.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last three months, insiders sold 68,327 shares of company stock valued at $17,450,793. Company insiders own 3.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CRM. Royal Bank Of Canada dropped their price objective on shares of Salesforce from $275.00 to $250.00 and set a "sector perform" rating for the company in a report on Thursday, September 4th. The Goldman Sachs Group lifted their price target on Salesforce from $340.00 to $385.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Sanford C. Bernstein reduced 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. Canaccord Genuity Group cut their target price on Salesforce from $350.00 to $300.00 and set a "buy" rating for the company in a research note on Thursday, September 4th. Finally, Robert W. Baird decreased their price target on shares of Salesforce from $365.00 to $325.00 and set an "outperform" rating on the stock in a research note on Thursday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $332.58.

Salesforce Trading Down 3.7%

CRM traded down $9.44 during midday trading on Wednesday, reaching $242.62. 10,155,890 shares of the company's stock traded hands, compared to its average volume of 9,953,363. The stock has a market capitalization of $230.98 billion, a price-to-earnings ratio of 30.41, a P/E/G ratio of 2.30 and a beta of 1.22. Salesforce Inc. has a 52 week low of $226.48 and a 52 week high of $369.00. The firm has a fifty day moving average of $254.82 and a two-hundred day moving average of $265.82. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.12 and a quick ratio of 1.12.

Salesforce (NYSE:CRM - Get Free Report) last announced its quarterly 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 company had revenue of $10.24 billion during the quarter, compared to analyst estimates of $10.14 billion. Salesforce had a return on equity of 13.27% and a net margin of 16.87%.The firm's revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the firm 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. On average, equities analysts anticipate that Salesforce Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders 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 dividend on an annualized basis and a dividend yield of 0.7%. Salesforce's dividend payout ratio is 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.