Perigon Wealth Management LLC Increases Stake in Salesforce Inc. $CRM

Perigon Wealth Management LLC grew its holdings in shares of Salesforce Inc. (NYSE:CRM) by 6.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 48,160 shares of the CRM provider’s stock after buying an additional 3,106 shares during the period. Perigon Wealth Management LLC’s holdings in Salesforce were worth $11,414,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Painted Porch Advisors LLC raised its holdings in Salesforce by 260.0% in the 2nd quarter. Painted Porch Advisors LLC now owns 90 shares of the CRM provider’s stock valued at $25,000 after acquiring an additional 65 shares during the last quarter. Evolution Wealth Management Inc. acquired a new position in shares of Salesforce during the 2nd quarter worth approximately $27,000. CBIZ Investment Advisory Services LLC grew its position in shares of Salesforce by 314.8% in the first quarter. CBIZ Investment Advisory Services LLC now owns 112 shares of the CRM provider’s stock valued at $30,000 after purchasing an additional 85 shares in the last quarter. Christopher J. Hasenberg Inc increased its holdings in shares of Salesforce by 383.3% in the second quarter. Christopher J. Hasenberg Inc now owns 116 shares of the CRM provider’s stock valued at $32,000 after purchasing an additional 92 shares during the last quarter. Finally, Maseco LLP purchased a new position in Salesforce during the second quarter worth approximately $34,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Salesforce

In related news, insider Parker Harris sold 134,662 shares of the business’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $234.70, for a total value of $31,605,171.40. Following the sale, the insider owned 139,767 shares in the company, valued at approximately $32,803,314.90. The trade was a 49.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Marc Benioff sold 2,250 shares of the stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $255.56, for a total value of $575,010.00. Following the transaction, the chief executive officer directly owned 11,911,571 shares in the company, valued at approximately $3,044,121,084.76. The trade was a 0.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 166,284 shares of company stock worth $39,439,229 over the last ninety days. Company insiders own 3.00% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on CRM. Robert W. Baird dropped their target price on Salesforce from $325.00 to $315.00 and set an “outperform” rating for the company in a report on Thursday, December 4th. BMO Capital Markets dropped their price objective on shares of Salesforce from $280.00 to $275.00 and set an “outperform” rating for the company in a report on Thursday, December 4th. Cowen restated a “buy” rating on shares of Salesforce in a research report on Thursday, December 4th. Stifel Nicolaus decreased their target price on shares of Salesforce from $325.00 to $300.00 and set a “buy” rating on the stock in a report on Thursday, October 9th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Salesforce in a research note on Monday, December 15th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $326.68.

Salesforce Trading Up 0.3%

Shares of CRM stock opened at $266.09 on Friday. Salesforce Inc. has a 1-year low of $221.96 and a 1-year high of $367.09. The firm has a market cap of $249.33 billion, a PE ratio of 35.53, a price-to-earnings-growth ratio of 1.98 and a beta of 1.25. The company has a 50-day moving average of $249.16 and a two-hundred day moving average of $251.61. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.98 and a quick ratio of 0.98.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Wednesday, December 3rd. The CRM provider reported $3.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.86 by $0.39. Salesforce had a net margin of 17.91% and a return on equity of 14.41%. The business had revenue of $10.26 billion for the quarter, compared to the consensus estimate of $10.27 billion. During the same period in the previous year, the firm earned $2.41 EPS. The business’s revenue was up 9.1% on a year-over-year basis. Salesforce has set its Q4 2026 guidance at 3.020-3.040 EPS. On average, analysts predict that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 8th. Shareholders of record on Thursday, December 18th will be paid a dividend of $0.416 per share. This represents a $1.66 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Thursday, December 18th. Salesforce’s dividend payout ratio is 22.16%.

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.