"Shares of Salesforce Inc. (NYSE: CRM) lost 14.16% over the past month after gaining 16.65% the month prior. Over the past year, the stock is down 34.16%. Amid that slump, the company's market cap has shrunk to $214.13 billion, with 1,494 institutional owners having decreased their positions compared to 1,412 increasing their positions. Still, the company has nearly 82% institutional ownership and analysts' outlooks for the stock are encouraging."
"In June, CNBC reported that CEO Marc Benoiff said AI is now doing up to 50% of the workload at Salesforce, with the technology reaching about 93% accuracy. On May 27, it was announced that Salesforce is acquiring cloud data management company Informatica in an $8 billion deal. The company will be paying $25 per share of Informatica's Class A and Blass B-1 common stock."
"One colloquial phrase from the business world that has uniquely developed in the 21 st century is "Customer Relationship Management," or CRM, which was coined by the Gartner Group in the late 1990s. Both CRM and "Software as a Service" (SaaS) have since become synonymous with a San Francisco software management company that has become an industry behemoth, even taking "CRM" as its stock ticker. Salesforce is the world's largest provider of cloud-based customer relationship management (CRM) services."
Salesforce's share price recently fell, losing 14.16% over the past month and declining 34.16% year‑over‑year, shrinking the market capitalization to $214.13 billion. Institutional ownership remains high at nearly 82%, though 1,494 institutional owners decreased positions while 1,412 increased them. CEO Marc Benoiff reported AI now handles up to 50% of Salesforce's workload with roughly 93% accuracy. Salesforce agreed to acquire Informatica in an $8 billion deal, paying $25 per share for Class A and Blass B-1 common stock. The company pledged a $1 billion investment in Singapore over five years and promotes Agentforce to address labor shortages. Salesforce operates the world's largest cloud-based CRM and expands capabilities via SaaS platforms and targeted acquisitions.
Read at 24/7 Wall St.
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