Trust Co. of Vermont Acquires New Position in Salesforce Inc. $CRM

Key Points

• Trust Co. of Vermont bought 78,520 Salesforce shares during the second quarter, valued at approximately $12.3 million. Institutional investors collectively own 80.43% of CRM stock.
• Salesforce reported quarterly revenue of $11.13 billion and adjusted earnings of $3.88 per share, exceeding analyst expectations; revenue increased 13.3% year over year.
• Salesforce pays a quarterly dividend of $0.44 per share, or $1.76 annually, yielding approximately 0.9%. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $249.05.

Trust Co. of Vermont bought a new position in Salesforce Inc. (NYSE:CRM - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 78,520 shares of the CRM provider's stock, valued at approximately $12,301,000.

Several other large investors have also recently made changes to their positions in CRM. Fred Alger Management LLC boosted its stake in shares of Salesforce by 0.3% in the 3rd quarter. Fred Alger Management LLC now owns 14,943 shares of the CRM provider's stock valued at $3,548,000 after purchasing an additional 45 shares in the last quarter. Richards Merrill & Peterson Inc. raised its position in Salesforce by 1.1% in the 4th quarter. Richards Merrill & Peterson Inc. now owns 4,239 shares of the CRM provider's stock worth $1,123,000 after purchasing an additional 46 shares during the period. Mowery & Schoenfeld Wealth Management LLC lifted its stake in Salesforce by 6.9% in the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 745 shares of the CRM provider's stock worth $197,000 after purchasing an additional 48 shares during the last quarter. Synergy Financial Group LTD lifted its stake in Salesforce by 2.4% in the third quarter. Synergy Financial Group LTD now owns 2,035 shares of the CRM provider's stock worth $482,000 after purchasing an additional 48 shares during the last quarter. Finally, Arbor Capital Management Inc. ADV boosted its position in Salesforce by 1.6% during the fourth quarter. Arbor Capital Management Inc. ADV now owns 3,321 shares of the CRM provider's stock valued at $884,000 after buying an additional 51 shares during the period. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Price Performance

Shares of CRM stock opened at $191.20 on Tuesday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.79 and a current ratio of 0.79. Salesforce Inc. has a fifty-two week low of $146.32 and a fifty-two week high of $269.11. The firm has a market cap of $156.59 billion, a P/E ratio of 22.13, a P/E/G ratio of 1.06 and a beta of 1.16. The business's 50 day moving average price is $171.58 and its 200-day moving average price is $181.69.

Salesforce (NYSE:CRM - Get Free Report) last announced its earnings results on Wednesday, May 27th. The CRM provider reported $3.88 EPS for the quarter, beating analysts' consensus estimates of $3.13 by $0.75. Salesforce had a return on equity of 18.72% and a net margin of 18.73%.The company had revenue of $11.13 billion during the quarter, compared to the consensus estimate of $11.05 billion. During the same quarter in the prior year, the company earned $2.58 earnings per share. The firm's revenue for the quarter was up 13.3% on a year-over-year basis. Salesforce has set its FY 2027 guidance at 14.060-14.120 EPS and its Q2 2027 guidance at 3.250-3.270 EPS. On average, equities research analysts anticipate that Salesforce Inc. will post 10.27 earnings per share for the current year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Thursday, June 11th were issued a $0.44 dividend. The ex-dividend date was Thursday, June 11th. This represents a $1.76 annualized dividend and a yield of 0.9%. Salesforce's dividend payout ratio is 20.37%.

Wall Street Analyst Weigh In

CRM has been the topic of several analyst reports. Jefferies Financial Group upgraded Salesforce from a "buy" rating to a "buy" rating in a report on Wednesday, July 1st. Canaccord Genuity Group restated a "buy" rating and set a $225.00 target price on shares of Salesforce in a report on Tuesday, June 16th. The Goldman Sachs Group started coverage on Salesforce in a research note on Thursday, June 18th. They issued a "neutral" rating on the stock. Susquehanna assumed coverage on Salesforce in a research note on Wednesday, July 1st. They set a "neutral" rating for the company. Finally, Wells Fargo & Company lifted their target price on shares of Salesforce from $200.00 to $205.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, seventeen have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Salesforce currently has an average rating of "Moderate Buy" and a consensus target price of $249.05.

Salesforce Company 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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