Vancity Investment Management Ltd Takes Position in Salesforce Inc. $CRM

Key Points

• Vancity Investment Management Ltd acquired a new position in Salesforce, purchasing 1,243 shares valued at approximately $334,000 during the first quarter.
• Salesforce reported Q2 earnings of $2.91 EPS, surpassing analysts' expectations, with a revenue of $10.24 billion, marking a 9.8% year-over-year increase.
• The company announced a quarterly dividend of $0.416 per share, resulting in an annualized yield of 0.7%, with payment scheduled for October 9th.

Vancity Investment Management Ltd bought a new position in Salesforce Inc. (NYSE:CRM - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,243 shares of the CRM provider's stock, valued at approximately $334,000.

Several other hedge funds have also recently made changes to their positions in CRM. Bernard Wealth Management Corp. purchased a new stake in shares of Salesforce in the fourth quarter worth $25,000. Wood Tarver Financial Group LLC purchased a new position in Salesforce during the fourth quarter valued at $35,000. Capital A Wealth Management LLC lifted its position in Salesforce by 450.0% during the first quarter. Capital A Wealth Management LLC now owns 110 shares of the CRM provider's stock valued at $30,000 after purchasing an additional 90 shares during the last quarter. CBIZ Investment Advisory Services LLC lifted its position in Salesforce by 314.8% during the first quarter. CBIZ Investment Advisory Services LLC now owns 112 shares of the CRM provider's stock valued at $30,000 after purchasing an additional 85 shares during the last quarter. Finally, Abound Financial LLC bought a new position in Salesforce during the first quarter valued at $31,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Stock Up 2.6%

Shares of Salesforce stock opened at $250.40 on Monday. The firm's 50 day moving average price is $255.64 and its 200-day moving average price is $266.32. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.14. Salesforce Inc. has a 52-week low of $226.48 and a 52-week high of $369.00. The company has a market cap of $238.38 billion, a P/E ratio of 36.40, a PEG ratio of 2.29 and a beta of 1.22.

Salesforce (NYSE:CRM - Get Free Report) last released its 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 analysts' expectations of $10.14 billion. Salesforce had a net margin of 16.87% and a return on equity of 13.27%. Salesforce's revenue for the quarter was up 9.8% on a year-over-year basis. During the same period last year, the business earned $2.56 EPS. Salesforce has set its FY 2026 guidance at 11.330-11.370 EPS. Q3 2026 guidance at 2.840-2.860 EPS. On average, sell-side analysts predict that Salesforce Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Wednesday, September 17th will be paid a dividend of $0.416 per share. This represents a $1.66 annualized dividend and a yield of 0.7%. The ex-dividend date is Wednesday, September 17th. Salesforce's payout ratio is presently 24.13%.

Insider Buying and Selling

In other Salesforce news, CEO Marc Benioff sold 2,250 shares of Salesforce stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $241.50, for a total transaction of $543,375.00. Following the completion of the sale, the chief executive officer directly owned 11,911,571 shares in the company, valued at approximately $2,876,644,396.50. The trade was a 0.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last ninety days, insiders have sold 66,077 shares of company stock worth $16,885,773. Insiders own 3.00% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CRM. Morgan Stanley raised their target price on shares of Salesforce from $404.00 to $405.00 and gave the stock an "overweight" rating in a report on Tuesday, September 2nd. The Goldman Sachs Group raised their target price on shares of Salesforce from $340.00 to $385.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. Bank of America lowered their target price on shares of Salesforce from $350.00 to $325.00 and set a "buy" rating for the company in a report on Tuesday, August 26th. Stifel Nicolaus decreased their price objective on shares of Salesforce from $375.00 to $325.00 and set a "buy" rating for the company in a report on Wednesday, August 13th. Finally, BMO Capital Markets decreased their price objective on shares of Salesforce from $335.00 to $280.00 and set an "outperform" rating for the company in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $333.11.

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.

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.