Sax Wealth Advisors LLC Purchases 1,378 Shares of Salesforce Inc. $CRM

Key Points

• Sax Wealth Advisors LLC increased its holdings in Salesforce Inc. by 40.6%, acquiring 1,378 additional shares, bringing their total to 4,773 shares valued at approximately $1.3 million.
• Salesforce reported a strong quarterly earnings figure of $2.91 per share for the most recent period, surpassing analysts' expectations and marking a 9.8% increase in revenue year-over-year.
• A quarterly dividend of $0.416 has been declared, with a yield of 0.7%, to be paid to shareholders on October 9.

Sax Wealth Advisors LLC increased its position in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 40.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,773 shares of the CRM provider's stock after acquiring an additional 1,378 shares during the period. Sax Wealth Advisors LLC's holdings in Salesforce were worth $1,302,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CRM. Nuveen LLC bought a new stake in shares of Salesforce in the 1st quarter valued at about $2,039,196,000. Longview Partners Guernsey LTD bought a new stake in shares of Salesforce during the 1st quarter valued at about $467,944,000. Pacer Advisors Inc. boosted its position in shares of Salesforce by 1,744.0% during the 1st quarter. Pacer Advisors Inc. now owns 1,820,262 shares of the CRM provider's stock valued at $488,486,000 after purchasing an additional 1,721,550 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Salesforce by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 87,913,628 shares of the CRM provider's stock valued at $23,592,501,000 after purchasing an additional 1,383,942 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. bought a new stake in shares of Salesforce during the 1st quarter valued at about $345,100,000. Institutional investors own 80.43% of the company's stock.

Salesforce Stock Performance

CRM stock opened at $240.23 on Thursday. The firm has a market cap 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 quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.14. The business has a 50 day moving average of $245.13 and a 200-day moving average of $259.53. Salesforce Inc. has a 12-month low of $226.48 and a 12-month high of $369.00.

Salesforce (NYSE:CRM - Get Free Report) last announced its quarterly earnings data on Wednesday, September 3rd. The CRM provider reported $2.91 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $10.14 billion. During the same period in the prior year, the company earned $2.56 earnings per share. Salesforce's revenue was up 9.8% compared to the same quarter last year. Salesforce has set its FY 2026 guidance at 11.330-11.370 EPS. Q3 2026 guidance at 2.840-2.860 EPS. As a group, sell-side analysts expect that Salesforce Inc. will post 7.46 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders 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 presently 24.13%.

Insiders Place Their Bets

In related news, Director David Blair Kirk purchased 3,400 shares of the business's stock in a transaction dated Tuesday, September 9th. The stock was purchased at an average cost of $254.66 per share, with a total value of $865,844.00. Following the completion of the acquisition, the director directly owned 3,824 shares of the company's stock, valued at approximately $973,819.84. The trade was a 801.89% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Marc Benioff sold 2,250 shares of the firm's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $252.42, for a total value of $567,945.00. Following the completion of the transaction, the chief executive officer directly owned 11,911,571 shares of the company's stock, valued at $3,006,718,751.82. The trade was a 0.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 78,750 shares of company stock valued at $19,679,535 over the last ninety days. Corporate insiders own 3.00% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on CRM. Morgan Stanley upped their target price on Salesforce from $404.00 to $405.00 and gave the company an "overweight" rating in a research report on Tuesday, September 2nd. Cantor Fitzgerald restated an "overweight" rating and set a $325.00 target price on shares of Salesforce in a research report on Thursday, September 4th. Robert W. Baird cut their target price on Salesforce from $365.00 to $325.00 and set an "outperform" rating on the stock in a research report on Thursday, September 4th. UBS Group cut their target price on Salesforce from $300.00 to $260.00 and set a "neutral" rating on the stock in a research report on Monday, August 18th. Finally, Oppenheimer dropped their price target on Salesforce from $370.00 to $315.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 26th. Twenty-six equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Salesforce currently has an average rating of "Moderate Buy" and a consensus price target of $332.58.

Salesforce 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.

Want to see what other hedge funds are holding CRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Salesforce Inc. (NYSE:CRM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.