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

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

A number of other institutional investors and hedge funds have also recently made changes to their positions in CRM. Evolution Wealth Management Inc. bought a new stake in shares of Salesforce during the 2nd quarter valued at $27,000. Marquette Asset Management LLC acquired a new position in Salesforce in the third quarter valued at about $26,000. Spurstone Advisory Services LLC bought a new stake in Salesforce during the second quarter worth about $34,000. Quaker Wealth Management LLC grew its stake in Salesforce by 208.6% during the second quarter. Quaker Wealth Management LLC now owns 126 shares of the CRM provider’s stock worth $34,000 after buying an additional 242 shares in the last quarter. Finally, Country Trust Bank grew its stake in Salesforce by 658.8% during the second quarter. Country Trust Bank now owns 129 shares of the CRM provider’s stock worth $35,000 after buying an additional 112 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on CRM shares. Morgan Stanley lowered their price objective on shares of Salesforce from $405.00 to $398.00 and set an “overweight” rating for the company in a research report on Tuesday, December 9th. Guggenheim restated a “neutral” rating on shares of Salesforce in a research report on Thursday, December 4th. TD Cowen reaffirmed a “buy” rating on shares of Salesforce in a research note on Thursday, December 4th. JMP Securities reaffirmed a “market outperform” rating and set a $430.00 price target on shares of Salesforce in a report on Friday, October 17th. Finally, Citigroup lowered Salesforce from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 5th. 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 given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $323.57.

Salesforce Stock Up 1.3%

Salesforce stock opened at $193.89 on Tuesday. The firm has a market cap of $181.67 billion, a price-to-earnings ratio of 25.89, a PEG ratio of 1.31 and a beta of 1.27. Salesforce Inc. has a 52-week low of $185.73 and a 52-week high of $331.75. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a 50 day moving average price of $242.79 and a two-hundred day moving average price of $244.55.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, December 3rd. The CRM provider reported $3.25 earnings per share for the quarter, topping the consensus estimate of $2.86 by $0.39. The company had revenue of $10.26 billion during the quarter, compared to analysts’ expectations of $10.27 billion. Salesforce had a net margin of 17.91% and a return on equity of 14.41%. Salesforce’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.41 earnings per share. 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 year.

Salesforce Dividend Announcement

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

Insiders Place Their Bets

In related news, Director G Mason Morfit bought 96,000 shares of the business’s stock in a transaction that occurred on Friday, December 5th. The shares were acquired at an average cost of $260.58 per share, with a total value of $25,015,680.00. Following the completion of the purchase, the director directly owned 2,994,509 shares in the company, valued at $780,309,155.22. The trade was a 3.31% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 transaction of $31,605,171.40. Following the completion of the sale, the insider directly owned 139,767 shares of the company’s stock, valued at approximately $32,803,314.90. This trade represents a 49.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 3.00% of the stock is currently owned by company insiders.

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.