Salesforce Inc. $CRM Stock Position Decreased by Glenmede Trust Co. NA

Glenmede Trust Co. NA trimmed its position in shares of Salesforce Inc. (NYSE:CRM) by 11.4% in the 1st quarter, Holdings Channel reports. The institutional investor owned 210,717 shares of the CRM provider’s stock after selling 27,232 shares during the period. Glenmede Trust Co. NA’s holdings in Salesforce were worth $39,335,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in CRM. Commonwealth Retirement Investments LLC bought a new position in Salesforce during the fourth quarter valued at approximately $25,000. Key Capital Management INC bought a new stake in Salesforce in the fourth quarter worth approximately $26,000. Gilpin Wealth Management LLC bought a new stake in Salesforce in the fourth quarter worth approximately $26,000. Legacy Bridge LLC acquired a new position in shares of Salesforce during the 4th quarter worth $27,000. Finally, Birchwood Financial Partners Inc. acquired a new position in shares of Salesforce during the 4th quarter worth $28,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on CRM shares. Roth Capital reaffirmed a “buy” rating and issued a $325.00 price objective on shares of Salesforce in a research note on Thursday, May 28th. Canaccord Genuity Group reissued a “buy” rating and set a $225.00 target price on shares of Salesforce in a research report on Tuesday, June 16th. Wedbush initiated coverage on Salesforce in a report on Wednesday, July 1st. They set an “outperform” rating on the stock. Wolfe Research cut Salesforce from an “outperform” rating to a “hold” rating in a research report on Wednesday, July 1st. Finally, Susquehanna initiated coverage on Salesforce in a research note on Wednesday, July 1st. They set a “neutral” rating for the company. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, sixteen have issued a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $249.51.

Salesforce Stock Performance

NYSE:CRM opened at $184.34 on Friday. The firm has a market capitalization of $150.98 billion, a PE ratio of 21.34, a PEG ratio of 0.98 and a beta of 1.18. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.15. Salesforce Inc. has a 1 year low of $146.32 and a 1 year high of $269.11. The firm’s fifty day simple moving average is $170.34 and its 200 day simple moving average is $185.01.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Wednesday, May 27th. The CRM provider reported $3.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.13 by $0.75. The company had revenue of $11.13 billion during the quarter, compared to analysts’ expectations of $11.05 billion. Salesforce had a net margin of 18.73% and a return on equity of 18.72%. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.58 earnings per share. 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, sell-side analysts anticipate that Salesforce Inc. will post 10.27 EPS for the current year.

Salesforce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Thursday, June 11th were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Thursday, June 11th. Salesforce’s payout ratio is currently 20.37%.

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.