VIRGINIA RETIREMENT SYSTEMS ET Al Takes $48.11 Million Position in Salesforce Inc. $CRM

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Salesforce Inc. (NYSE:CRM) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 307,101 shares of the CRM provider’s stock, valued at approximately $48,110,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Commonwealth Retirement Investments LLC purchased a new stake in shares of Salesforce in the 4th quarter valued at $25,000. Gilpin Wealth Management LLC bought a new position in shares of Salesforce during the 4th quarter valued at $26,000. Birchwood Financial Partners Inc. purchased a new position in Salesforce in the 4th quarter worth $28,000. Swiss RE Ltd. bought a new stake in Salesforce in the fourth quarter worth $28,000. Finally, Dogwood Wealth Management LLC boosted its position in Salesforce by 285.7% during the fourth quarter. Dogwood Wealth Management LLC now owns 108 shares of the CRM provider’s stock valued at $29,000 after buying an additional 80 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce News Roundup

Here are the key news stories impacting Salesforce this week:

• Positive Sentiment: AI growth is becoming material: Agentforce and Data 360 annual recurring revenue reached nearly $3.9 billion, up more than 210% year over year. Agentforce ARR exceeded $1.5 billion and grew more than 240%, supporting the view that Salesforce is successfully monetizing artificial intelligence. Salesforce Grew Agentforce and Data 360 ARR More Than 200%
• Positive Sentiment: Analyst support remains strong: Cantor Fitzgerald raised its Salesforce price target to $300, while BTIG reaffirmed its “Buy” rating and said it is increasingly confident in improving business trends. Cantor Fitzgerald Raises Salesforce Price Target
• Positive Sentiment: Shareholder returns: Salesforce declared a quarterly cash dividend of $0.44 per share, payable October 8 to shareholders of record September 17. The dividend provides a modest income component and signals continued confidence in cash generation. Salesforce Announces Quarterly Dividend

Salesforce Stock Performance

Salesforce stock opened at $259.39 on Monday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.02. The firm has a market cap of $213.48 billion, a P/E ratio of 23.65, a P/E/G ratio of 1.20 and a beta of 1.20. Salesforce Inc. has a 1-year low of $146.32 and a 1-year high of $269.11. The firm has a 50-day moving average of $191.88 and a 200-day moving average of $184.96.

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

Salesforce Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on CRM shares. Jefferies Financial Group raised their price objective on Salesforce from $250.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, August 27th. HC Wainwright cut Salesforce to a “negative” rating in a report on Thursday, June 18th. Barclays raised their price target on Salesforce from $236.00 to $276.00 and gave the stock an “overweight” rating in a research report on Thursday, August 27th. KeyCorp cut Salesforce from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, July 8th. Finally, Cantor Fitzgerald boosted their price objective on Salesforce from $250.00 to $300.00 and gave the company an “overweight” rating in a research report on Wednesday, September 2nd. Three research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued 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, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $266.50.

Insider Transactions at Salesforce

In other Salesforce news, Director Craig Conway sold 4,500 shares of the company’s stock in a transaction on Friday, September 4th. The shares were sold at an average price of $260.61, for a total value of $1,172,745.00. Following the completion of the transaction, the director directly owned 5,437 shares in the company, valued at approximately $1,416,936.57. This represents a 45.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.50% of the company’s stock.

Salesforce 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.