Crossmark Global Holdings Inc. Boosts Position in Salesforce Inc. $CRM

Crossmark Global Holdings Inc. raised its stake in Salesforce Inc. (NYSE:CRM) by 12.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 137,368 shares of the CRM provider’s stock after buying an additional 15,071 shares during the period. Salesforce comprises 0.6% of Crossmark Global Holdings Inc.’s holdings, making the stock its 26th biggest holding. Crossmark Global Holdings Inc.’s holdings in Salesforce were worth $37,459,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the stock. Financial Gravity Companies Inc. purchased a new position in shares of Salesforce during the second quarter worth approximately $2,458,000. Summitry LLC grew its stake in Salesforce by 3.3% in the second quarter. Summitry LLC now owns 195,840 shares of the CRM provider’s stock worth $53,404,000 after purchasing an additional 6,249 shares in the last quarter. MTM Investment Management LLC purchased a new position in Salesforce during the 2nd quarter worth $59,000. Alberta Investment Management Corp increased its holdings in Salesforce by 5,244.4% during the 2nd quarter. Alberta Investment Management Corp now owns 48,100 shares of the CRM provider’s stock worth $13,116,000 after purchasing an additional 47,200 shares during the period. Finally, Kingsview Wealth Management LLC raised its position in Salesforce by 8.5% during the 2nd quarter. Kingsview Wealth Management LLC now owns 165,489 shares of the CRM provider’s stock valued at $45,127,000 after purchasing an additional 13,022 shares in the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Trading Up 1.4%

NYSE CRM opened at $243.86 on Friday. Salesforce Inc. has a 52 week low of $226.48 and a 52 week high of $369.00. The company has a 50 day moving average price of $246.51 and a 200 day moving average price of $257.56. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.14. The firm has a market cap of $232.16 billion, a PE ratio of 35.45, a price-to-earnings-growth ratio of 2.11 and a beta of 1.19.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, September 3rd. The CRM provider reported $2.91 earnings per share for the quarter, beating the consensus estimate of $2.78 by $0.13. Salesforce had a net margin of 16.87% and a return on equity of 13.27%. The company had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $10.14 billion. During the same period last year, the firm earned $2.56 earnings per share. Salesforce’s revenue was up 9.8% compared to the same quarter last year. Salesforce has set its FY 2026 guidance at 11.330-11.370 EPS. Q3 2026 guidance at 2.840-2.860 EPS. As a group, sell-side analysts forecast that Salesforce Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 9th. Investors of record on Wednesday, September 17th were paid a dividend of $0.416 per share. This represents a $1.66 annualized dividend and a yield of 0.7%. The ex-dividend date was Wednesday, September 17th. Salesforce’s payout ratio is 24.13%.

Insider Activity

In other Salesforce news, Director David Blair Kirk purchased 3,400 shares of the firm’s stock in a transaction on Tuesday, September 9th. The stock was bought at an average cost of $254.66 per share, for a total transaction of $865,844.00. Following the completion of the purchase, the director owned 3,824 shares in the company, valued at $973,819.84. This represents a 801.89% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Marc Benioff sold 2,250 shares of the firm’s stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $246.66, for a total value of $554,985.00. Following the completion of the sale, the chief executive officer directly owned 11,911,571 shares of the company’s stock, valued at approximately $2,938,108,102.86. This represents a 0.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 67,622 shares of company stock worth $16,714,561 over the last ninety days. 3.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CRM. Needham & Company LLC restated a “buy” rating and set a $400.00 price target on shares of Salesforce in a research note on Thursday, October 16th. Stifel Nicolaus dropped their target price on shares of Salesforce from $325.00 to $300.00 and set a “buy” rating on the stock in a report on Thursday, October 9th. Roth Capital restated a “buy” rating and issued a $395.00 price target on shares of Salesforce in a report on Thursday, September 4th. Morgan Stanley upped their price target on shares of Salesforce from $404.00 to $405.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 2nd. Finally, DA Davidson reissued a “neutral” rating and set a $225.00 price objective on shares of Salesforce in a report on Thursday, October 16th. Twenty-five investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Salesforce currently has an average rating of “Moderate Buy” and an average price target of $325.23.

About Salesforce

Salesforce, Inc provides Customer Relationship Management (CRM) technology that brings companies and customers together worldwide. The company's service includes sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale.