Synovus Financial Corp Sells 7,511 Shares of Salesforce Inc. $CRM

Key Points

• Synovus Financial Corp has reduced its stake in Salesforce Inc. by 16.2%, selling 7,511 shares and ending the first quarter with a total of 38,807 shares valued at approximately $10.4 million.
• Salesforce reported earnings of $2.58 per share for the last quarter, exceeding analyst expectations, with revenue of $9.83 billion and a year-over-year growth of 7.6%.
• Salesforce's stock has received varying analyst ratings, with a consensus of "Moderate Buy" and an average target price of $342.89, indicating potential upside in the market.

Synovus Financial Corp lowered its stake in Salesforce Inc. (NYSE:CRM - Free Report) by 16.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,807 shares of the CRM provider's stock after selling 7,511 shares during the quarter. Synovus Financial Corp's holdings in Salesforce were worth $10,415,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of CRM. Brighton Jones LLC increased its stake in Salesforce by 13.7% during the 4th quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider's stock valued at $8,582,000 after purchasing an additional 3,102 shares in the last quarter. Revolve Wealth Partners LLC increased its stake in Salesforce by 12.6% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,827 shares of the CRM provider's stock valued at $611,000 after purchasing an additional 205 shares in the last quarter. Jump Financial LLC bought a new stake in Salesforce during the 4th quarter valued at $361,000. Topsail Wealth Management LLC bought a new stake in Salesforce during the 4th quarter valued at $215,000. Finally, Lord Abbett & CO. LLC bought a new stake in Salesforce during the 4th quarter valued at $61,384,000. Institutional investors own 80.43% of the company's stock.

Salesforce Stock Performance

NYSE CRM opened at $248.0150 on Friday. Salesforce Inc. has a 1 year low of $226.48 and a 1 year high of $369.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a market cap of $237.10 billion, a price-to-earnings ratio of 38.81, a PEG ratio of 2.25 and a beta of 1.37. The company has a fifty day moving average price of $258.37 and a 200-day moving average price of $271.92.

Salesforce (NYSE:CRM - Get Free Report) last posted its earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.03. The firm had revenue of $9.83 billion during the quarter, compared to analyst estimates of $9.74 billion. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. The business's revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.44 EPS. Salesforce has set its FY 2026 guidance at 11.270-11.330 EPS. Q2 2026 guidance at 2.760-2.780 EPS. As a group, equities research analysts predict that Salesforce Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Wednesday, June 18th were 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 was Wednesday, June 18th. Salesforce's payout ratio is 25.98%.

Wall Street Analysts Forecast Growth

CRM has been the subject of a number of recent research reports. DA Davidson upgraded shares of Salesforce from an "underperform" rating to a "neutral" rating and set a $225.00 price target for the company in a research note on Friday, August 15th. UBS Group decreased their price target on shares of Salesforce from $300.00 to $260.00 and set a "neutral" rating for the company in a research note on Monday, August 18th. Morgan Stanley restated an "overweight" rating and set a $404.00 price target (up previously from $393.00) on shares of Salesforce in a research note on Thursday, May 29th. Stephens decreased their price target on shares of Salesforce from $311.00 to $309.00 and set an "equal weight" rating for the company in a research note on Friday, May 30th. Finally, Sanford C. Bernstein upped their target price on shares of Salesforce from $243.00 to $255.00 and gave the stock an "underperform" rating in a research note on Thursday, May 29th. Four research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Salesforce has an average rating of "Moderate Buy" and an average target price of $342.89.

Insider Buying and Selling at Salesforce

In related news, CEO Marc Benioff sold 2,250 shares of the business's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $257.02, for a total value of $578,295.00. Following the transaction, the chief executive officer directly owned 11,911,571 shares of the company's stock, valued at approximately $3,061,511,978.42. The trade was a 0.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders have sold 52,577 shares of company stock valued at $13,528,188. 3.00% of the stock is currently owned by insiders.

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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