Chemung Canal Trust Co. Has $251,000 Stake in Salesforce Inc. $CRM

Chemung Canal Trust Co. reduced its position in Salesforce Inc. (NYSE:CRM) by 85.6% during the first quarter, HoldingsChannel reports. The firm owned 1,343 shares of the CRM provider’s stock after selling 7,989 shares during the period. Chemung Canal Trust Co.’s holdings in Salesforce were worth $251,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of CRM. Skylands Capital LLC bought a new position in Salesforce during the first quarter worth $187,000. Horizon Bancorp Inc. IN boosted its position in Salesforce by 39.0% during the first quarter. Horizon Bancorp Inc. IN now owns 1,681 shares of the CRM provider’s stock valued at $314,000 after acquiring an additional 472 shares during the last quarter. Louisbourg Investments Inc. grew its holdings in Salesforce by 38.1% during the 1st quarter. Louisbourg Investments Inc. now owns 54,137 shares of the CRM provider’s stock worth $10,106,000 after acquiring an additional 14,939 shares during the period. Boomfish Wealth Group LLC raised its position in shares of Salesforce by 2.1% in the 1st quarter. Boomfish Wealth Group LLC now owns 11,329 shares of the CRM provider’s stock worth $2,115,000 after acquiring an additional 230 shares in the last quarter. Finally, Cornerstone Wealth Group LLC raised its position in shares of Salesforce by 15.3% in the 1st quarter. Cornerstone Wealth Group LLC now owns 3,749 shares of the CRM provider’s stock worth $701,000 after acquiring an additional 498 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Trading Up 5.4%

NYSE CRM opened at $158.23 on Friday. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.15. Salesforce Inc. has a 52 week low of $146.32 and a 52 week high of $276.80. The business has a 50 day moving average price of $175.56 and a 200-day moving average price of $201.20. The company has a market cap of $129.59 billion, a price-to-earnings ratio of 18.31, a P/E/G ratio of 0.99 and a beta of 1.16.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, May 27th. The CRM provider reported $3.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.13 by $0.75. Salesforce had a return on equity of 18.72% and a net margin of 18.73%.The company had revenue of $11.13 billion for the quarter, compared to analysts’ expectations of $11.05 billion. During the same period last year, the business earned $2.58 EPS. Salesforce’s quarterly revenue was up 13.3% compared to the same quarter last year. Salesforce has set its FY 2027 guidance at 14.060-14.120 EPS and its Q2 2027 guidance at 3.250-3.270 EPS. As a group, equities analysts expect that Salesforce Inc. will post 10.29 earnings per share for the current fiscal year.

Salesforce announced that its board has authorized a share buyback program on Monday, March 16th that allows the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization allows the CRM provider to buy up to 14.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Salesforce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Thursday, June 11th will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Thursday, June 11th. Salesforce’s dividend payout ratio (DPR) is 20.37%.

Analysts Set New Price Targets

Several equities research analysts recently commented on CRM shares. Scotiabank lowered Salesforce from a “sector outperform” rating to a “sector perform” rating in a research report on Thursday, June 18th. Barclays raised Salesforce from an “overweight” rating to an “overweight” rating in a research note on Thursday, June 18th. Piper Sandler downgraded shares of Salesforce from an “overweight” rating to a “neutral” rating in a research report on Thursday, May 28th. Macquarie Infrastructure lowered their price objective on shares of Salesforce from $200.00 to $190.00 and set a “neutral” rating for the company in a research note on Thursday, May 28th. Finally, KeyCorp cut their target price on shares of Salesforce from $300.00 to $290.00 and set an “overweight” rating on the stock in a research note on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, eleven have assigned a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $257.61.

Key Headlines Impacting Salesforce

Here are the key news stories impacting Salesforce this week:

• Positive Sentiment: TD Cowen reiterated a Buy rating and a $240 price target on Salesforce, citing AI momentum and growth tied to Agentforce, which reinforces the bullish long-term case for the stock. TD Cowen Reaffirms Buy Rating on Salesforce (CRM) as AI Momentum and Agentforce Drive Growth
• Positive Sentiment: Coverage of Salesforce’s Agentforce and broader AI strategy suggests the company is still seen as a serious player in enterprise AI, which may help offset fears that legacy software growth is slowing. Salesforce Agentforce: A Comprehensive Enterprise Cheat Sheet and Review
• Neutral Sentiment: Several commentary pieces argue Salesforce has been overly sold off and may be undervalued after its post-earnings decline, but these are more valuation arguments than fresh catalysts. Salesforce: Taking Advantage Of The Market’s Misunderstanding Of Enterprise Software
• Neutral Sentiment: Salesforce’s acquisition of m3ter to expand dynamic pricing tools adds to its AI CRM platform, but the immediate stock impact looks limited so far. Salesforce expands AI CRM with acquisition of m3ter for dynamic pricing
• Negative Sentiment: One article notes Salesforce is still down sharply since its last earnings report, reminding investors that sentiment remains fragile despite the recent rebound. Salesforce (CRM) Down 14.8% Since Last Earnings Report: Can It Rebound?
• Negative Sentiment: Another report says Salesforce is trying to defend its AI position with new tools for RIAs, but experts are raising concerns about cost, implementation, and benefits, which could limit enthusiasm. Salesforce tries to catch up on AI — and halt precipitous stock slide — with launch of ‘Agentic Advisor’ for RIAs

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.