Truist Financial Corp lessened its holdings in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 22.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 365,583 shares of the CRM provider's stock after selling 104,026 shares during the period. Truist Financial Corp's holdings in Salesforce were worth $96,847,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of CRM. Capital World Investors grew its holdings in Salesforce by 159.0% during the 3rd quarter. Capital World Investors now owns 17,325,206 shares of the CRM provider's stock worth $4,106,255,000 after acquiring an additional 10,636,161 shares during the period. Hotchkis & Wiley Capital Management LLC acquired a new stake in Salesforce during the 3rd quarter worth $484,852,000. Alyeska Investment Group L.P. grew its holdings in Salesforce by 285.4% during the 3rd quarter. Alyeska Investment Group L.P. now owns 2,487,627 shares of the CRM provider's stock worth $589,568,000 after acquiring an additional 1,842,117 shares during the period. Generation Investment Management LLP acquired a new stake in Salesforce during the 3rd quarter worth $431,157,000. Finally, Capital International Investors grew its holdings in Salesforce by 9.4% during the 3rd quarter. Capital International Investors now owns 20,051,119 shares of the CRM provider's stock worth $4,753,519,000 after acquiring an additional 1,729,440 shares during the period. Institutional investors and hedge funds own 80.43% of the company's stock.
Salesforce Trading Up 0.9%
Salesforce stock opened at $185.52 on Tuesday. The firm has a 50-day moving average of $186.67 and a 200-day moving average of $220.11. Salesforce Inc. has a one year low of $163.52 and a one year high of $296.05. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.76 and a quick ratio of 0.76. The company has a market cap of $151.80 billion, a price-to-earnings ratio of 23.75, a P/E/G ratio of 1.28 and a beta of 1.14.
Salesforce (NYSE:CRM - Get Free Report) last posted its quarterly earnings data on Wednesday, February 25th. The CRM provider reported $3.81 EPS for the quarter, topping analysts' consensus estimates of $3.05 by $0.76. Salesforce had a net margin of 17.96% and a return on equity of 15.38%. The company had revenue of $11.20 billion during the quarter, compared to the consensus estimate of $11.18 billion. During the same period in the prior year, the business posted $2.78 EPS. The company's quarterly revenue was up 12.1% on a year-over-year basis. Salesforce has set its FY 2027 guidance at 13.110-13.190 EPS and its Q1 2027 guidance at 3.110-3.130 EPS. On average, equities analysts expect that Salesforce Inc. will post 9.71 earnings per share for the current fiscal year.
Salesforce Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 23rd. Stockholders of record on Thursday, April 9th were paid a dividend of $0.44 per share. The ex-dividend date was Thursday, April 9th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.9%. This is a positive change from Salesforce's previous quarterly dividend of $0.42. Salesforce's dividend payout ratio (DPR) is currently 22.54%.
Salesforce announced that its Board of Directors has initiated a share buyback plan on Monday, March 16th that permits the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization permits the CRM provider to purchase up to 14.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its shares are undervalued.
Key Salesforce News
Here are the key news stories impacting Salesforce this week:
Analyst Ratings Changes
A number of research firms recently commented on CRM. Jefferies Financial Group lowered their price objective on shares of Salesforce from $375.00 to $250.00 and set a "buy" rating for the company in a research report on Monday, February 23rd. Piper Sandler reduced their target price on shares of Salesforce from $250.00 to $215.00 and set an "overweight" rating for the company in a research note on Tuesday, April 14th. Mizuho reduced their target price on shares of Salesforce from $280.00 to $265.00 and set an "outperform" rating for the company in a research note on Thursday, February 26th. BTIG Research reaffirmed a "buy" rating and issued a $255.00 target price on shares of Salesforce in a research note on Friday, April 17th. Finally, KeyCorp reduced their target price on shares of Salesforce from $400.00 to $300.00 and set an "overweight" rating for the company in a research note on Tuesday, February 24th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $279.18.
Check Out Our Latest Analysis on CRM
Insider Transactions at Salesforce
In other Salesforce news, Director Laura Alber acquired 2,571 shares of Salesforce stock in a transaction dated Thursday, March 19th. The stock was bought at an average cost of $194.58 per share, for a total transaction of $500,265.18. Following the purchase, the director directly owned 9,530 shares in the company, valued at approximately $1,854,347.40. This represents a 36.94% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director David Blair Kirk acquired 2,570 shares of Salesforce stock in a transaction dated Wednesday, March 18th. The shares were acquired at an average price of $194.62 per share, with a total value of $500,173.40. Following the completion of the purchase, the director owned 13,689 shares in the company, valued at approximately $2,664,153.18. The trade was a 23.11% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 3.00% of the company's stock.
About Salesforce
(
Free Report)
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.
Further Reading
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