Rockland Trust Co. Has $3.10 Million Stock Holdings in Salesforce Inc. $CRM

Rockland Trust Co. increased its holdings in shares of Salesforce Inc. (NYSE:CRM) by 1,145.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,066 shares of the CRM provider’s stock after acquiring an additional 12,017 shares during the period. Rockland Trust Co.’s holdings in Salesforce were worth $3,097,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CRM. Jones Financial Companies Lllp lifted 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 valued at $113,420,000 after acquiring an additional 61,270 shares during the period. AGF Management Ltd. increased its position in shares of Salesforce by 42.2% during the 3rd quarter. AGF Management Ltd. now owns 281,054 shares of the CRM provider’s stock worth $66,610,000 after purchasing an additional 83,403 shares in the last quarter. Ashton Thomas Private Wealth LLC lifted its holdings in Salesforce by 64.2% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 30,111 shares of the CRM provider’s stock valued at $7,149,000 after purchasing an additional 11,777 shares during the last quarter. Alta Capital Management LLC lifted its holdings in Salesforce by 1,104.7% during the 3rd quarter. Alta Capital Management LLC now owns 13,493 shares of the CRM provider’s stock valued at $3,198,000 after purchasing an additional 12,373 shares during the last quarter. Finally, Gallacher Capital Management LLC acquired a new position in Salesforce in the third quarter valued at about $785,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CRM. Wedbush reiterated an “outperform” rating and issued a $375.00 target price on shares of Salesforce in a research note on Thursday, December 4th. Truist Financial cut their price objective on Salesforce from $400.00 to $380.00 and set a “buy” rating for the company in a research report on Thursday, December 4th. The Goldman Sachs Group began coverage on Salesforce in a research note on Monday, January 12th. They issued a “buy” rating and a $330.00 price objective on the stock. Evercore lowered their target price on Salesforce from $360.00 to $340.00 and set an “outperform” rating for the company in a research note on Thursday, December 4th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $400.00 price target on shares of Salesforce in a report on Thursday, December 4th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and a consensus target price of $323.57.

Salesforce Price Performance

Shares of CRM stock opened at $193.89 on Tuesday. Salesforce Inc. has a 12-month low of $185.73 and a 12-month high of $331.75. The firm has a fifty day moving average of $242.79 and a 200-day moving average of $244.55. The firm has a market capitalization of $181.67 billion, a price-to-earnings ratio of 25.89, a price-to-earnings-growth ratio of 1.31 and a beta of 1.27. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Wednesday, December 3rd. The CRM provider reported $3.25 earnings per share for the quarter, beating the consensus estimate of $2.86 by $0.39. Salesforce had a return on equity of 14.41% and a net margin of 17.91%.The business had revenue of $10.26 billion for the quarter, compared to analysts’ expectations of $10.27 billion. During the same quarter in the previous year, the business posted $2.41 EPS. Salesforce’s revenue for the quarter was up 9.1% on a year-over-year basis. Salesforce has set its Q4 2026 guidance at 3.020-3.040 EPS. On average, equities research analysts forecast that Salesforce Inc. will post 7.46 earnings per share for the current year.

Salesforce Announces Dividend

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

Insider Buying and Selling at Salesforce

In other Salesforce news, Director G Mason Morfit bought 96,000 shares of the firm’s stock in a transaction that occurred on Friday, December 5th. The stock was acquired at an average price of $260.58 per share, with a total value of $25,015,680.00. Following the completion of the transaction, the director owned 2,994,509 shares in the company, valued at approximately $780,309,155.22. This trade represents a 3.31% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David Blair Kirk purchased 1,936 shares of the stock in a transaction on Wednesday, December 17th. The shares were bought at an average cost of $258.64 per share, for a total transaction of $500,727.04. Following the transaction, the director directly owned 10,677 shares in the company, valued at approximately $2,761,499.28. The trade was a 22.15% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 3.00% of the stock is owned by corporate insiders.

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.