Westchester Capital Management Inc. Invests $12.15 Million in Salesforce Inc. $CRM

Key Points

• Westchester Capital Management Inc. has invested approximately $12.15 million in Salesforce Inc., acquiring 44,558 shares, making it the firm's 17th largest holding.
• Salesforce recently reported an earnings per share of $2.91 for the last quarter, exceeding analysts' expectations of $2.78, alongside a revenue of $10.24 billion.
• Several hedge funds have adjusted their stakes in Salesforce, with ownership by institutional investors now at 80.43% of the company's stock.

Westchester Capital Management Inc. acquired a new stake in Salesforce Inc. (NYSE:CRM - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 44,558 shares of the CRM provider's stock, valued at approximately $12,151,000. Salesforce comprises approximately 2.9% of Westchester Capital Management Inc.'s investment portfolio, making the stock its 17th biggest holding.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Delaney Dennis R raised its position in shares of Salesforce by 24.7% in the second quarter. Delaney Dennis R now owns 7,102 shares of the CRM provider's stock valued at $1,937,000 after buying an additional 1,408 shares during the last quarter. Oregon Public Employees Retirement Fund grew its stake in Salesforce by 0.9% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 82,912 shares of the CRM provider's stock valued at $22,609,000 after acquiring an additional 778 shares in the last quarter. Concord Asset Management LLC VA grew its stake in Salesforce by 18.5% during the 2nd quarter. Concord Asset Management LLC VA now owns 9,479 shares of the CRM provider's stock valued at $2,585,000 after acquiring an additional 1,480 shares in the last quarter. Sequoia Financial Advisors LLC raised its holdings in Salesforce by 2.7% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 257,097 shares of the CRM provider's stock valued at $70,108,000 after acquiring an additional 6,651 shares during the last quarter. Finally, Total Clarity Wealth Management Inc. lifted its stake in Salesforce by 35.0% in the 2nd quarter. Total Clarity Wealth Management Inc. now owns 926 shares of the CRM provider's stock worth $253,000 after purchasing an additional 240 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company's stock.

Salesforce Stock Performance

NYSE CRM opened at $242.11 on Monday. The stock has a fifty day simple moving average of $244.68 and a 200-day simple moving average of $258.64. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.14. The stock has a market cap of $230.49 billion, a PE ratio of 35.19, a P/E/G ratio of 2.09 and a beta of 1.19. Salesforce Inc. has a twelve month low of $226.48 and a twelve month high of $369.00.

Salesforce (NYSE:CRM - Get Free Report) last posted its earnings results on Wednesday, September 3rd. The CRM provider reported $2.91 EPS for the quarter, beating analysts' consensus estimates of $2.78 by $0.13. The company had revenue of $10.24 billion for 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.56 earnings per share. Salesforce has set its FY 2026 guidance at 11.330-11.370 EPS. Q3 2026 guidance at 2.840-2.860 EPS. Equities analysts anticipate that Salesforce Inc. will post 7.46 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 9th. Investors of record on Wednesday, September 17th were given a dividend of $0.416 per share. The ex-dividend date of this dividend was Wednesday, September 17th. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.7%. Salesforce's dividend payout ratio (DPR) is presently 24.13%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CRM shares. UBS Group lowered their target price on Salesforce from $300.00 to $260.00 and set a "neutral" rating on the stock in a report on Monday, August 18th. Bank of America lowered their price objective on Salesforce from $350.00 to $325.00 and set a "buy" rating on the stock in a research note on Tuesday, August 26th. Cantor Fitzgerald restated an "overweight" rating and issued a $325.00 target price on shares of Salesforce in a report on Thursday, September 4th. Sanford C. Bernstein reduced their price target on Salesforce from $255.00 to $221.00 and set an "underperform" rating on the stock in a report on Thursday, September 4th. Finally, DA Davidson raised shares of Salesforce from an "underperform" rating to a "neutral" rating and set a $225.00 price target on the stock in a research report on Friday, August 15th. Twenty-six equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Salesforce has an average rating of "Moderate Buy" and a consensus price target of $331.89.

Insiders Place Their Bets

In other Salesforce news, CEO Marc Benioff sold 2,250 shares of the business's stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of $239.79, for a total value of $539,527.50. Following the sale, the chief executive officer owned 11,911,571 shares of the company's stock, valued at $2,856,275,610.09. The trade was a 0.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders have sold 76,500 shares of company stock valued at $19,049,130. 3.00% of the stock is currently owned by company insiders.

About Salesforce

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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