Wedmont Private Capital Has $1.98 Million Stock Holdings in Salesforce Inc. $CRM

Wedmont Private Capital trimmed its position in Salesforce Inc. (NYSE:CRM) by 30.4% during the second quarter, Holdings Channel reports. The firm owned 12,110 shares of the CRM provider’s stock after selling 5,292 shares during the quarter. Wedmont Private Capital’s holdings in Salesforce were worth $1,978,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Temasek Holdings Private Ltd raised its holdings in Salesforce by 3.7% in the 4th 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 during the period. SFE Investment Counsel increased its stake in shares of Salesforce by 82.7% during the fourth quarter. SFE Investment Counsel now owns 17,394 shares of the CRM provider’s stock worth $4,608,000 after purchasing an additional 7,871 shares during the period. Fluent Financial LLC acquired a new stake in Salesforce during the 2nd quarter worth approximately $2,265,000. TAM Capital Management Inc. bought a new stake in Salesforce in the 1st quarter valued at $40,945,000. Finally, Janus Henderson Group PLC increased its position in Salesforce by 2.5% during the 1st quarter. Janus Henderson Group PLC now owns 127,739 shares of the CRM provider’s stock worth $23,846,000 after buying an additional 3,125 shares during the period. Institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling at Salesforce

In other news, Director Craig Conway sold 4,500 shares of the stock in a transaction dated 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 owned 5,437 shares of the company’s stock, valued at approximately $1,416,936.57. This represents a 45.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Evercore reissued an “outperform” rating on shares of Salesforce in a research report on Thursday, August 27th. Mizuho raised their price target on shares of Salesforce from $250.00 to $265.00 and gave the stock an “outperform” rating in a research report on Thursday, August 27th. Macquarie Infrastructure dropped their price objective on shares of Salesforce from $200.00 to $190.00 and set a “neutral” rating for the company in a research note on Thursday, May 28th. Phillip Securities downgraded shares of Salesforce from a “buy” rating to a “hold” rating and cut their price objective for the company from $253.00 to $166.00 in a report on Monday, June 29th. Finally, Bank of America began coverage on shares of Salesforce in a research report on Monday, May 18th. They set an “underperform” rating and a $160.00 target price on the stock. Three analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, fifteen have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $266.50.

Salesforce Stock Performance

Shares of Salesforce stock opened at $259.39 on Tuesday. 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 company has a market cap of $213.48 billion, a PE ratio of 23.65, a price-to-earnings-growth ratio of 1.20 and a beta of 1.20. The company has a 50 day moving average of $193.90 and a 200-day moving average of $185.49. Salesforce Inc. has a 1-year low of $146.32 and a 1-year high of $269.11.

Salesforce (NYSE:CRM) last announced its quarterly earnings data 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 net margin of 21.99% and a return on equity of 24.90%. The business had revenue of $11.35 billion for the quarter, compared to analysts’ expectations of $11.33 billion. During the same period last year, the firm posted $2.91 earnings per share. The firm’s quarterly 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. As a group, equities research analysts forecast that Salesforce Inc. will post 12.65 earnings per share for the current fiscal year.

Salesforce Announces Dividend

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

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.