Harvey Capital Management Inc. Makes New $4.18 Million Investment in Salesforce Inc. $CRM

Harvey Capital Management Inc. bought a new stake in shares of Salesforce Inc. (NYSE:CRM) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 26,657 shares of the CRM provider’s stock, valued at approximately $4,176,000.

Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. bought a new position in Salesforce during the 2nd quarter valued at approximately $11,396,844,000. J. Stern & Co. LLP raised its stake in Salesforce by 24,056.7% during the fourth quarter. J. Stern & Co. LLP now owns 47,385,511 shares of the CRM provider’s stock valued at $12,552,896,000 after buying an additional 47,189,352 shares during the last quarter. Bank of America Corp DE bought a new stake in Salesforce in the second quarter worth $1,914,086,000. Norges Bank purchased a new stake in shares of Salesforce in the fourth quarter worth $3,182,951,000. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Salesforce by 130.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 12,659,217 shares of the CRM provider’s stock worth $2,363,096,000 after acquiring an additional 7,160,302 shares during the last quarter. 80.43% of the stock is owned by institutional investors.

Salesforce Trading Up 22.6%

Salesforce stock opened at $252.15 on Friday. Salesforce Inc. has a one year low of $146.32 and a one year high of $269.11. The business’s fifty day moving average is $179.14 and its 200 day moving average is $182.03. The stock has a market capitalization of $206.51 billion, a PE ratio of 22.99, a price-to-earnings-growth ratio of 1.11 and a beta of 1.16. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.79 and a quick ratio of 0.79.

Salesforce (NYSE:CRM) last issued its earnings results 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. The business had revenue of $11.35 billion during the quarter, compared to analyst estimates of $11.33 billion. Salesforce had a return on equity of 23.35% and a net margin of 21.99%.Salesforce’s revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.91 EPS. Salesforce has set its FY 2027 guidance at 16.670-16.710 EPS and its Q3 2027 guidance at 3.420-3.440 EPS. On average, sell-side analysts predict that Salesforce Inc. will post 10.27 EPS for the current year.

Salesforce News Summary

Here are the key news stories impacting Salesforce this week:

• Positive Sentiment: Strong quarterly performance: Salesforce reported adjusted EPS of $5.90, well above the $3.27 consensus, while revenue rose 10.8% year over year to $11.35 billion, slightly exceeding expectations. Profit was also helped by gains on strategic investments, including Salesforce’s stake in Anthropic. Salesforce stock jumps on AI growth and Anthropic investment gain
• Positive Sentiment: Raised outlook: Management lifted fiscal 2027 revenue guidance to $46.1 billion-$46.4 billion and EPS guidance to $16.67-$16.71. Third-quarter EPS guidance of $3.42-$3.44 also topped the $3.16 analyst estimate, signaling confidence in demand and profitability. Salesforce raises annual revenue forecasts on AI product momentum
• Positive Sentiment: AI adoption is gaining traction: Current remaining performance obligations accelerated 14% in constant currency, while Agentforce and Data 360 annual recurring revenue approached $3.9 billion. Reports also highlighted a sixfold increase in AI usage, supporting the view that AI may expand Salesforce’s platform rather than replace it. Jim Cramer says Nvidia and Salesforce earnings upended two bear narratives
• Positive Sentiment: Anthropic partnership expands Salesforce’s AI offering: The “Claudeforce” initiative integrates Anthropic’s Claude with Salesforce workflows, data and governance, including prebuilt sales skills. Investors view the partnership as a potential catalyst for Agentforce adoption and AI monetization. Salesforce and Anthropic announce Claudeforce
• Positive Sentiment: Analyst reaction improved: JPMorgan, Mizuho, BMO, Truist and Monness Crespi raised their price targets, with targets ranging from $260 to $300; Needham maintained a Buy rating with a $400 target. The results were widely described as weakening the “SaaSpocalypse” bear thesis. Salesforce Q2 results squash SaaSpocalypse fears

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CRM. Wells Fargo & Company lifted their price target on Salesforce from $205.00 to $230.00 and gave the stock an “equal weight” rating in a research report on Thursday. BMO Capital Markets increased their price objective on shares of Salesforce from $230.00 to $260.00 and gave the company an “outperform” rating in a research report on Thursday. Piper Sandler lowered shares of Salesforce from an “overweight” rating to a “neutral” rating in a research note on Thursday, May 28th. Weiss Ratings raised shares of Salesforce from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, August 12th. Finally, Raymond James Financial reiterated a “strong-buy” rating on shares of Salesforce in a report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, sixteen have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $261.15.

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.