Community Bank N.A. Acquires 2,836 Shares of Salesforce Inc. $CRM

Community Bank N.A. boosted its holdings in Salesforce Inc. (NYSE:CRM) by 20.8% during the second quarter, Holdings Channel.com reports. The firm owned 16,468 shares of the CRM provider’s stock after acquiring an additional 2,836 shares during the quarter. Community Bank N.A.’s holdings in Salesforce were worth $2,580,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Temasek Holdings Private Ltd increased its position in shares of Salesforce by 3.7% during the fourth quarter. Temasek Holdings Private Ltd now owns 683,790 shares of the CRM provider’s stock valued at $181,143,000 after acquiring an additional 24,332 shares in the last quarter. SFE Investment Counsel lifted its position in Salesforce by 82.7% in the 4th quarter. SFE Investment Counsel now owns 17,394 shares of the CRM provider’s stock valued at $4,608,000 after acquiring an additional 7,871 shares in the last quarter. Fluent Financial LLC purchased a new stake in Salesforce during the 2nd quarter valued at $2,265,000. Secured Retirement Advisors LLC purchased a new stake in Salesforce during the 1st quarter valued at $1,004,000. Finally, TAM Capital Management Inc. bought a new stake in shares of Salesforce in the 1st quarter worth $40,945,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on CRM shares. B. Riley Financial upped their price target on Salesforce from $205.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, May 28th. BMO Capital Markets lifted their price objective on Salesforce from $230.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, August 27th. HC Wainwright lowered Salesforce to a “negative” rating in a research report on Thursday, June 18th. Scotiabank downgraded shares of Salesforce from a “sector outperform” rating to a “sector perform” rating in a report on Thursday, June 18th. Finally, HSBC lifted their price target on shares of Salesforce from $350.00 to $356.00 and gave the stock a “buy” rating in a research note on Friday, May 29th. Three analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, fifteen have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and an average target price of $266.50.

Insider Activity

In related news, Director Craig Conway sold 4,500 shares of the business’s stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $260.61, for a total transaction of $1,172,745.00. Following the completion of the sale, the director directly owned 5,437 shares in the company, valued at approximately $1,416,936.57. The trade was a 45.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 3.50% of the company’s stock.

Salesforce Stock Performance

Shares of CRM opened at $249.03 on Wednesday. The firm has a market capitalization of $204.95 billion, a P/E ratio of 22.70, a PEG ratio of 1.20 and a beta of 1.20. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.84 and a quick ratio of 0.84. Salesforce Inc. has a one year low of $146.32 and a one year high of $269.11. The business has a fifty day moving average of $195.74 and a 200 day moving average of $185.92.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, August 26th. The CRM provider reported $5.90 earnings per share for the quarter, beating analysts’ consensus estimates of $3.27 by $2.63. The company had revenue of $11.35 billion for the quarter, compared to the consensus estimate of $11.33 billion. Salesforce had a return on equity of 24.90% and a net margin of 21.99%.Salesforce’s revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.91 earnings per share. Salesforce has set its FY 2027 guidance at 16.670-16.710 EPS and its Q3 2027 guidance at 3.420-3.440 EPS. As a group, sell-side analysts anticipate that Salesforce Inc. will post 12.65 EPS for the current year.

Salesforce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 8th. Stockholders of record on Thursday, September 17th will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Thursday, September 17th. Salesforce’s dividend payout ratio is 16.04%.

About Salesforce

Salesforce, Inc is a cloud-based software company that provides customer relationship management (CRM) technology and related enterprise applications. Its platform helps organizations manage sales, customer service, marketing, commerce, data analytics and business operations through subscription-based software and cloud services.

The company’s product portfolio includes Sales Cloud, Service Cloud, Marketing Cloud, Commerce Cloud, Data Cloud and the Salesforce Platform. Salesforce also offers Slack for workplace collaboration, Tableau for data visualization and analytics, MuleSoft for application integration, and artificial intelligence capabilities, including its Agentforce platform for building and deploying AI agents.

Founded in 1999, Salesforce is headquartered in San Francisco, California, and serves businesses and organizations across a broad range of industries and geographic markets worldwide.