Salesforce Inc. $CRM Holdings Raised by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. grew its stake in shares of Salesforce Inc. (NYSE:CRM) by 121.4% in the 4th quarter, HoldingsChannel reports. The firm owned 71,393 shares of the CRM provider’s stock after acquiring an additional 39,141 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Salesforce were worth $18,913,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Rockland Trust Co. grew its holdings in shares of Salesforce by 1,145.6% during the third quarter. Rockland Trust Co. now owns 13,066 shares of the CRM provider’s stock worth $3,097,000 after purchasing an additional 12,017 shares in the last quarter. Alps Advisors Inc. grew its holdings in shares of Salesforce by 98.3% during the third quarter. Alps Advisors Inc. now owns 21,455 shares of the CRM provider’s stock worth $5,085,000 after purchasing an additional 10,633 shares in the last quarter. Midwest Trust Co grew its holdings in shares of Salesforce by 2.3% during the third quarter. Midwest Trust Co now owns 187,071 shares of the CRM provider’s stock worth $44,336,000 after purchasing an additional 4,233 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in shares of Salesforce by 15.1% during the third quarter. Jones Financial Companies Lllp now owns 467,551 shares of the CRM provider’s stock worth $113,420,000 after purchasing an additional 61,270 shares in the last quarter. Finally, AGF Management Ltd. lifted its position in Salesforce by 42.2% in the 3rd quarter. AGF Management Ltd. now owns 281,054 shares of the CRM provider’s stock worth $66,610,000 after buying an additional 83,403 shares during the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Stock Performance

Shares of CRM stock opened at $176.45 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.76 and a current ratio of 0.76. Salesforce Inc. has a fifty-two week low of $163.52 and a fifty-two week high of $296.05. The stock has a 50 day moving average price of $186.67 and a two-hundred day moving average price of $220.45. The company has a market capitalization of $144.37 billion, a P/E ratio of 22.59, a PEG ratio of 1.26 and a beta of 1.29.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, February 25th. The CRM provider reported $3.81 earnings per share for the quarter, beating the consensus estimate of $3.05 by $0.76. Salesforce had a return on equity of 15.38% and a net margin of 17.96%.The firm had revenue of $11.20 billion during the quarter, compared to the consensus estimate of $11.18 billion. During the same quarter in the previous year, the company posted $2.78 earnings per share. The business’s revenue was up 12.1% on a year-over-year basis. Salesforce has set its FY 2027 guidance at 13.110-13.190 EPS and its Q1 2027 guidance at 3.110-3.130 EPS. Analysts expect that Salesforce Inc. will post 9.71 earnings per share for the current year.

Salesforce Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 23rd. Shareholders of record on Thursday, April 9th were given a $0.44 dividend. The ex-dividend date was Thursday, April 9th. This is an increase from Salesforce’s previous quarterly dividend of $0.42. This represents a $1.76 annualized dividend and a yield of 1.0%. Salesforce’s dividend payout ratio is presently 22.54%.

Salesforce declared that its Board of Directors has approved a share repurchase plan on Monday, March 16th that allows the company to buyback $25.00 billion in shares. This buyback authorization allows the CRM provider to buy up to 14.1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Wells Fargo & Company dropped their target price on Salesforce from $235.00 to $210.00 and set an “equal weight” rating for the company in a research report on Thursday, February 26th. Northland Securities dropped their target price on Salesforce from $267.00 to $229.00 and set a “market perform” rating for the company in a research report on Tuesday, March 10th. UBS Group dropped their target price on Salesforce from $260.00 to $200.00 and set a “neutral” rating for the company in a research report on Tuesday, February 17th. Wolfe Research restated an “outperform” rating on shares of Salesforce in a research report on Thursday, January 15th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $281.00 target price on shares of Salesforce in a research report on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $279.18.

Insider Activity at Salesforce

In related news, Director David Blair Kirk acquired 2,570 shares of the stock in a transaction on Wednesday, March 18th. The stock was purchased at an average price of $194.62 per share, for a total transaction of $500,173.40. Following the completion of the transaction, the director owned 13,689 shares of the company’s stock, valued at $2,664,153.18. This trade represents a 23.11% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Laura Alber acquired 2,571 shares of the stock in a transaction on Thursday, March 19th. The stock was bought at an average price of $194.58 per share, with a total value of $500,265.18. Following the transaction, the director directly owned 9,530 shares of the company’s stock, valued at approximately $1,854,347.40. The trade was a 36.94% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 3.00% of the company’s stock.

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.