Renaissance Group LLC Has $28.30 Million Stock Position in Salesforce Inc. $CRM

Renaissance Group LLC increased its position in shares of Salesforce Inc. (NYSE:CRM) by 3.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 119,402 shares of the CRM provider’s stock after buying an additional 4,032 shares during the period. Renaissance Group LLC’s holdings in Salesforce were worth $28,298,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of CRM. Canada Post Corp Registered Pension Plan grew its position in shares of Salesforce by 131.3% in the third quarter. Canada Post Corp Registered Pension Plan now owns 79,326 shares of the CRM provider’s stock valued at $19,443,000 after purchasing an additional 45,031 shares during the last quarter. RBA Wealth Management LLC grew its holdings in Salesforce by 3.4% in the 3rd quarter. RBA Wealth Management LLC now owns 17,459 shares of the CRM provider’s stock valued at $4,138,000 after buying an additional 569 shares during the last quarter. Concord Asset Management LLC VA increased its position in Salesforce by 11.2% in the 3rd quarter. Concord Asset Management LLC VA now owns 10,542 shares of the CRM provider’s stock worth $2,498,000 after buying an additional 1,063 shares during the period. Renasant Bank lifted its holdings in shares of Salesforce by 2.3% during the third quarter. Renasant Bank now owns 5,222 shares of the CRM provider’s stock worth $1,238,000 after buying an additional 116 shares during the last quarter. Finally, Axim Planning & Wealth bought a new stake in shares of Salesforce in the third quarter valued at approximately $564,000. Institutional investors own 80.43% of the company’s stock.

Insider Activity

In other Salesforce news, Director G Mason Morfit purchased 96,000 shares of the company’s stock in a transaction that occurred on Friday, December 5th. The stock was purchased at an average cost of $260.58 per share, with a total value of $25,015,680.00. Following the acquisition, the director directly owned 2,994,509 shares of the company’s stock, valued at approximately $780,309,155.22. This trade represents a 3.31% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, insider Parker Harris sold 134,662 shares of Salesforce stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $234.70, for a total value of $31,605,171.40. Following the completion of the transaction, the insider owned 139,767 shares of the company’s stock, valued at approximately $32,803,314.90. The trade was a 49.07% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 3.00% of the company’s stock.

Salesforce Stock Up 0.8%

Shares of CRM opened at $191.48 on Friday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.14. The company has a 50-day moving average price of $243.57 and a two-hundred day moving average price of $245.35. The stock has a market cap of $179.42 billion, a price-to-earnings ratio of 25.56, a P/E/G ratio of 1.30 and a beta of 1.27. Salesforce Inc. has a 12 month low of $187.12 and a 12 month high of $333.82.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, December 3rd. The CRM provider reported $3.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.86 by $0.39. The business had revenue of $10.26 billion during the quarter, compared to analysts’ expectations of $10.27 billion. Salesforce had a return on equity of 14.41% and a net margin of 17.91%.Salesforce’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.41 EPS. Salesforce has set its Q4 2026 guidance at 3.020-3.040 EPS. Equities analysts predict that Salesforce Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 8th. Shareholders of record on Thursday, December 18th were paid a dividend of $0.416 per share. This represents a $1.66 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Thursday, December 18th. Salesforce’s dividend payout ratio is currently 22.16%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CRM. Canaccord Genuity Group reaffirmed a “buy” rating and set a $300.00 target price on shares of Salesforce in a research report on Thursday, December 4th. JMP Securities restated a “market outperform” rating and set a $430.00 price objective on shares of Salesforce in a report on Friday, October 17th. Oppenheimer cut their price objective on shares of Salesforce from $315.00 to $300.00 and set an “outperform” rating for the company in a research report on Monday, December 1st. UBS Group reiterated a “neutral” rating and issued a $260.00 target price on shares of Salesforce in a research note on Thursday, December 4th. Finally, Arete Research upgraded Salesforce to a “strong-buy” rating in a research note on Thursday, December 11th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and an average price target of $323.57.

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.