Boston Partners has acquired a significant stake in Salesforce Inc. (NYSE: CRM), purchasing 36,734 shares valued at approximately $10.02 million. This investment was disclosed in the firm’s latest filing with the Securities & Exchange Commission (SEC). This move reflects a growing interest among institutional investors in Salesforce, a leading customer relationship management (CRM) provider.
Several other institutional investors have also made adjustments to their positions in Salesforce recently. For instance, Coign Capital Advisors LLC increased its holdings by 1.7% in the first quarter, now owning 2,183 shares valued at $586,000. Similarly, Staley Capital Advisers Inc. raised its stake by 1.1%, bringing its total to 3,343 shares worth $897,000. KDT Advisors LLC and Scott & Selber Inc. also increased their shares during the same period, with KDT Advisors now holding 967 shares valued at $260,000 and Scott & Selber owning 5,850 shares valued at $1.60 million. Notably, 80.43% of Salesforce’s stock is currently owned by hedge funds and institutional investors.
In related developments, Salesforce’s CEO, Marc Benioff, sold 122 shares of the company’s stock on November 3, realizing a total of $31,598 from the sale. Following this transaction, Benioff’s ownership remains substantial, with 11,911,571 shares valued at approximately $3.09 billion. In total, insiders have sold 54,122 shares worth $13.37 million in the last quarter alone.
Salesforce’s Financial Performance
Salesforce shares opened at $230.79 recently. The company reported a current ratio of 1.12 and a debt-to-equity ratio of 0.14. The stock has fluctuated between a 12-month low of $221.96 and a 12-month high of $369.00. Salesforce also recently published its quarterly earnings results, showing earnings per share of $2.91, which surpassed analysts’ expectations of $2.78. The company reported revenue of $10.24 billion, growing by 9.8% year-over-year.
The company has set guidance for fiscal year 2026 at $11.330 to $11.370 EPS, with third-quarter guidance at $2.840 to $2.860 EPS. Analysts forecast Salesforce to achieve earnings of $7.46 per share for the current year.
Salesforce’s Dividend Announcement and Analyst Ratings
Salesforce recently declared a quarterly dividend of $0.416, which was paid on October 9, 2023. Shareholders on record as of September 17 received this dividend, representing an annualized yield of 0.7%. The company’s dividend payout ratio stands at 24.13%.
Market analysts have provided a range of ratings for Salesforce. For instance, Morgan Stanley raised its price target from $404.00 to $405.00, maintaining an “overweight” rating. Cantor Fitzgerald reiterated a similar rating with a price objective of $325.00, while Needham & Company LLC set a target price of $400.00. In total, 25 analysts have rated Salesforce as a buy, while 13 have given it a hold rating and one has rated it as a sell, leading to a consensus rating of “Moderate Buy” with a target price of $322.86.
Salesforce continues to be a key player in the CRM market, providing technology that helps businesses manage customer relationships effectively. Its services include sales data management, lead tracking, and personalized customer support, which are integral to modern business operations. As investor interest grows, Salesforce’s strategic position in the market appears robust, reflecting its ongoing significance in the technology sector.
