Cyndeo Wealth Partners LLC Decreases Stock Holdings in Salesforce Inc. $CRM

Cyndeo Wealth Partners LLC decreased its stake in shares of Salesforce Inc. (NYSE:CRM) by 82.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,620 shares of the CRM provider’s stock after selling 12,268 shares during the period. Cyndeo Wealth Partners LLC’s holdings in Salesforce were worth $694,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Marquette Asset Management LLC purchased a new stake in Salesforce during the 3rd quarter valued at $26,000. Board of the Pension Protection Fund purchased a new position in shares of Salesforce in the 4th quarter worth $26,000. Evolution Wealth Management Inc. purchased a new position in shares of Salesforce in the 2nd quarter worth $27,000. Texas Capital Bancshares Inc TX bought a new stake in shares of Salesforce in the third quarter worth $28,000. Finally, Country Trust Bank increased its position in Salesforce by 658.8% during the second quarter. Country Trust Bank now owns 129 shares of the CRM provider’s stock valued at $35,000 after acquiring an additional 112 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insiders Place Their Bets

In other news, Director David Blair Kirk acquired 2,570 shares of the firm’s stock in a transaction dated Wednesday, March 18th. The shares were purchased at an average cost of $194.62 per share, for a total transaction of $500,173.40. Following the transaction, the director directly owned 13,689 shares of the company’s stock, valued at approximately $2,664,153.18. This trade represents a 23.11% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Neelie Kroes sold 3,893 shares of Salesforce stock in a transaction on Wednesday, January 14th. The shares were sold at an average price of $238.70, for a total transaction of $929,259.10. Following the transaction, the director owned 7,299 shares in the company, valued at approximately $1,742,271.30. This trade represents a 34.78% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 3.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Piper Sandler reissued an “overweight” rating and issued a $250.00 target price (down from $280.00) on shares of Salesforce in a report on Thursday, February 26th. Roth Mkm reduced their price target on shares of Salesforce from $395.00 to $325.00 and set a “buy” rating for the company in a research report on Thursday, February 26th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Salesforce in a research note on Thursday, February 26th. DA Davidson dropped their price objective on shares of Salesforce from $235.00 to $200.00 and set a “neutral” rating on the stock in a report on Friday, February 27th. Finally, JPMorgan Chase & Co. cut their target price on shares of Salesforce from $365.00 to $320.00 and set an “overweight” rating for the company in a research report on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and a consensus target price of $280.21.

Salesforce Stock Performance

Shares of CRM opened at $195.12 on Tuesday. The business has a 50-day simple moving average of $202.64 and a two-hundred day simple moving average of $232.53. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.18. Salesforce Inc. has a 52 week low of $174.57 and a 52 week high of $296.05. The stock has a market cap of $180.09 billion, a price-to-earnings ratio of 24.98, a PEG ratio of 1.42 and a beta of 1.29.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, February 25th. The CRM provider reported $3.81 earnings per share for the quarter, beating analysts’ consensus estimates of $3.05 by $0.76. The firm had revenue of $11.20 billion for the quarter, compared to analysts’ expectations of $11.18 billion. Salesforce had a return on equity of 15.38% and a net margin of 17.96%.The business’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the previous year, the firm earned $2.78 EPS. Salesforce has set its FY 2027 guidance at 13.110-13.190 EPS and its Q1 2027 guidance at 3.110-3.130 EPS. On average, analysts expect that Salesforce Inc. will post 7.46 EPS for the current year.

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

Salesforce Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 23rd. Shareholders of record on Thursday, April 9th will be issued a dividend of $0.44 per share. This is an increase from Salesforce’s previous quarterly dividend of $0.42. This represents a $1.76 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Thursday, April 9th. Salesforce’s payout ratio is presently 21.25%.

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.