Retirement Income Solutions Inc acquired a new stake in shares of salesforce.com, inc. (NYSE:CRM) in the third quarter, HoldingsChannel.com reports. The firm acquired 1,330 shares of the CRM provider’s stock, valued at approximately $212,000.
Several other hedge funds and other institutional investors also recently modified their holdings of CRM. FMR LLC lifted its holdings in shares of salesforce.com by 3.5% during the second quarter. FMR LLC now owns 89,621,104 shares of the CRM provider’s stock valued at $12,224,319,000 after acquiring an additional 3,066,099 shares during the period. BlackRock Inc. lifted its holdings in shares of salesforce.com by 5.2% during the second quarter. BlackRock Inc. now owns 44,655,653 shares of the CRM provider’s stock valued at $6,091,032,000 after acquiring an additional 2,212,408 shares during the period. OppenheimerFunds Inc. lifted its holdings in shares of salesforce.com by 13,746.1% during the second quarter. OppenheimerFunds Inc. now owns 1,034,856 shares of the CRM provider’s stock valued at $141,154,000 after acquiring an additional 1,027,382 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of salesforce.com by 14.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,533,328 shares of the CRM provider’s stock valued at $1,027,545,000 after acquiring an additional 961,104 shares during the period. Finally, Mainstay Capital Management LLC ADV lifted its holdings in shares of salesforce.com by 7,692.8% during the second quarter. Mainstay Capital Management LLC ADV now owns 931,003 shares of the CRM provider’s stock valued at $7,081,000 after acquiring an additional 919,056 shares during the period. 83.01% of the stock is owned by institutional investors.
A number of research analysts have issued reports on CRM shares. Zacks Investment Research cut salesforce.com from a “hold” rating to a “sell” rating in a report on Tuesday, July 31st. KeyCorp lifted their price objective on salesforce.com from $147.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, August 30th. Oppenheimer lifted their price objective on salesforce.com from $152.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, July 11th. UBS Group lifted their price objective on salesforce.com from $168.00 to $180.00 and gave the company a “buy” rating in a report on Thursday, August 30th. Finally, Piper Jaffray Companies restated a “buy” rating on shares of salesforce.com in a research note on Thursday, August 30th. Six investment analysts have rated the stock with a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company. salesforce.com has a consensus rating of “Buy” and a consensus price target of $165.25.
In other news, General Counsel Amy E. Weaver sold 494 shares of the business’s stock in a transaction dated Thursday, August 23rd. The stock was sold at an average price of $147.23, for a total transaction of $72,731.62. Following the completion of the transaction, the general counsel now directly owns 20,764 shares in the company, valued at approximately $3,057,083.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Amy E. Weaver sold 5,325 shares of the business’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $160.11, for a total value of $852,585.75. Following the transaction, the insider now owns 26,798 shares of the company’s stock, valued at $4,290,627.78. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 18,000 shares of company stock valued at $2,703,900 and have sold 514,138 shares valued at $77,579,958. 6.00% of the stock is currently owned by insiders.
CRM stock traded up $0.24 during midday trading on Friday, reaching $139.83. The stock had a trading volume of 22,521 shares, compared to its average volume of 7,091,285. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.23. The firm has a market cap of $100.01 billion, a price-to-earnings ratio of 312.22, a PEG ratio of 4.35 and a beta of 1.27. salesforce.com, inc. has a twelve month low of $98.68 and a twelve month high of $161.19.
salesforce.com (NYSE:CRM) last announced its quarterly earnings data on Wednesday, August 29th. The CRM provider reported $0.71 EPS for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.24. The firm had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.23 billion. salesforce.com had a return on equity of 8.27% and a net margin of 6.45%. The company’s revenue was up 27.3% on a year-over-year basis. During the same period last year, the company earned $0.33 earnings per share. Sell-side analysts predict that salesforce.com, inc. will post 1.22 earnings per share for the current fiscal year.
salesforce.com Company Profile
salesforce.com, inc. develops enterprise cloud computing solutions with a focus on customer relationship management. The company offers Sales Cloud to store data, monitor leads and progress, forecast opportunities, and gain insights through analytics and relationship intelligence, as well as deliver quotes, contracts, and invoices.
Further Reading: Correction
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