Csenge Advisory Group Buys 3,246 Shares of Salesforce Inc. $CRM

Csenge Advisory Group boosted its stake in Salesforce Inc. (NYSE:CRM) by 171.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,142 shares of the CRM provider’s stock after acquiring an additional 3,246 shares during the period. Csenge Advisory Group’s holdings in Salesforce were worth $1,181,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Latitude Advisors LLC acquired a new stake in shares of Salesforce during the third quarter worth about $25,000. ABS Investment Management LLC acquired a new stake in shares of Salesforce in the 2nd quarter valued at about $610,974,000. ABS Direct Equity Fund LLC acquired a new stake in shares of Salesforce in the 2nd quarter valued at about $25,000. Manning & Napier Advisors LLC purchased a new position in Salesforce during the 2nd quarter worth approximately $26,000. Finally, Persistent Asset Partners Ltd purchased a new position in Salesforce during the 2nd quarter worth approximately $27,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on CRM shares. Needham & Company LLC reaffirmed a “buy” rating on shares of Salesforce in a research report on Thursday, September 17th. Citigroup restated a “market outperform” rating on shares of Salesforce in a research report on Tuesday, October 20th. Erste Group Bank raised shares of Salesforce from a “hold” rating to a “buy” rating in a report on Wednesday, August 5th. Monness Crespi & Hardt upped their price target on shares of Salesforce from $222.00 to $266.00 and gave the company a “buy” rating in a research report on Thursday, August 27th. Finally, Zacks Research upgraded shares of Salesforce from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 3rd. Four investment analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating, thirteen have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $278.98.

Salesforce Stock Performance

Shares of CRM stock opened at $217.38 on Friday. The stock’s 50-day moving average price is $236.19 and its 200 day moving average price is $198.42. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.02. The stock has a market capitalization of $178.91 billion, a PE ratio of 16.14, a price-to-earnings-growth ratio of 0.99 and a beta of 1.24. Salesforce Inc. has a 52-week low of $146.32 and a 52-week high of $269.11.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, August 26th. The CRM provider reported $5.90 earnings per share for the quarter, topping analysts’ consensus estimates of $3.27 by $2.63. Salesforce had a return on equity of 24.90% and a net margin of 21.99%. The company had revenue of $11.35 billion during the quarter, compared to analysts’ expectations of $11.33 billion. During the same period last year, the firm earned $2.91 EPS. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. Salesforce has set its FY 2027 guidance at 16.670-16.710 EPS and its Q3 2027 guidance at 3.420-3.440 EPS. As a group, equities research analysts forecast that Salesforce Inc. will post 12.82 EPS for the current year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 8th. Stockholders of record on Thursday, September 17th were paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Thursday, September 17th. Salesforce’s dividend payout ratio is 16.04%.

Insider Buying and Selling at Salesforce

In other news, Director David Blair Kirk acquired 4,176 shares of the company’s stock in a transaction on Friday, September 18th. The shares were bought at an average cost of $239.33 per share, with a total value of $999,442.08. Following the purchase, the director owned 18,748 shares of the company’s stock, valued at $4,486,958.84. This represents a 28.66% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Craig Conway sold 4,500 shares of the company’s stock in a transaction on Friday, September 4th. The stock was sold at an average price of $260.61, for a total transaction of $1,172,745.00. Following the transaction, the director owned 5,437 shares of the company’s stock, valued at approximately $1,416,936.57. The trade was a 45.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 3.50% of the stock is owned by company insiders.

About Salesforce

Salesforce, Inc. is a cloud-based software company best known for customer relationship management (CRM) tools. Its platform helps businesses manage sales, customer service, marketing, commerce and customer data, and includes products such as Sales Cloud, Service Cloud, Data Cloud and Agentforce. The company also offers Slack for workplace collaboration, Tableau for data analytics and visualization, and MuleSoft for connecting applications and data. Salesforce’s products are used by organizations across a range of industries and are available to customers around the world.