Salesforce Inc. $CRM Shares Sold by Nixon Peabody Trust Co.

Nixon Peabody Trust Co. trimmed its holdings in shares of Salesforce Inc. (NYSE:CRM) by 78.5% in the first quarter, HoldingsChannel reports. The firm owned 13,388 shares of the CRM provider’s stock after selling 48,866 shares during the period. Nixon Peabody Trust Co.’s holdings in Salesforce were worth $2,499,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Salesforce by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 89,843,166 shares of the CRM provider’s stock valued at $23,800,353,000 after buying an additional 270,913 shares during the last quarter. State Street Corp raised its holdings in shares of Salesforce by 1.3% in the fourth quarter. State Street Corp now owns 50,080,230 shares of the CRM provider’s stock worth $13,286,909,000 after acquiring an additional 659,573 shares during the last quarter. J. Stern & Co. LLP lifted its position in shares of Salesforce by 24,056.7% in the fourth quarter. J. Stern & Co. LLP now owns 47,385,511 shares of the CRM provider’s stock valued at $12,552,896,000 after acquiring an additional 47,189,352 shares in the last quarter. Capital International Investors lifted its position in shares of Salesforce by 13.3% in the fourth quarter. Capital International Investors now owns 22,721,010 shares of the CRM provider’s stock valued at $6,019,199,000 after acquiring an additional 2,669,891 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Salesforce by 3.8% during the fourth quarter. Geode Capital Management LLC now owns 21,782,556 shares of the CRM provider’s stock valued at $5,751,073,000 after acquiring an additional 791,345 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CRM has been the subject of a number of recent research reports. Wedbush started coverage on Salesforce in a research report on Wednesday. They set an “outperform” rating for the company. Raymond James Financial initiated coverage on shares of Salesforce in a research note on Wednesday. They set an “outperform” rating on the stock. Weiss Ratings lowered shares of Salesforce from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, June 17th. Roth Mkm restated a “buy” rating and set a $325.00 target price on shares of Salesforce in a research report on Thursday, May 28th. Finally, Macquarie Infrastructure lowered their target price 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. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, twelve have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $254.42.

Salesforce Stock Performance

Shares of NYSE:CRM opened at $165.94 on Friday. The firm has a market capitalization of $135.90 billion, a PE ratio of 19.21, a P/E/G ratio of 1.03 and a beta of 1.18. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.79 and a quick ratio of 0.79. The business has a 50-day moving average of $173.23 and a two-hundred day moving average of $197.71. Salesforce Inc. has a 12 month low of $146.32 and a 12 month high of $276.80.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Wednesday, May 27th. The CRM provider reported $3.88 EPS for the quarter, topping analysts’ consensus estimates of $3.13 by $0.75. The company had revenue of $11.13 billion for the quarter, compared to the consensus estimate of $11.05 billion. Salesforce had a return on equity of 18.72% and a net margin of 18.73%.The company’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period last year, the business posted $2.58 EPS. Salesforce has set its FY 2027 guidance at 14.060-14.120 EPS and its Q2 2027 guidance at 3.250-3.270 EPS. As a group, research analysts forecast that Salesforce Inc. will post 10.29 earnings per share for the current year.

Salesforce announced that its board has initiated a stock repurchase program on Monday, March 16th that allows the company to repurchase $25.00 billion in shares. This repurchase authorization allows the CRM provider to reacquire up to 14.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Thursday, June 11th were issued a $0.44 dividend. The ex-dividend date was Thursday, June 11th. This represents a $1.76 annualized dividend and a yield of 1.1%. Salesforce’s dividend payout ratio (DPR) is presently 20.37%.

About Salesforce

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.