Trust Co. of Toledo NA OH Grows Position in salesforce.com, inc. (NYSE:CRM)

Trust Co. of Toledo NA OH lifted its position in salesforce.com, inc. (NYSE:CRM) by 2.2% during the 1st quarter, HoldingsChannel.com reports. The fund owned 12,633 shares of the CRM provider’s stock after acquiring an additional 275 shares during the period. Trust Co. of Toledo NA OH’s holdings in salesforce.com were worth $2,001,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Bremer Trust National Association increased its position in shares of salesforce.com by 0.4% in the 4th quarter. Bremer Trust National Association now owns 17,925 shares of the CRM provider’s stock valued at $2,455,000 after acquiring an additional 66 shares during the period. Highland Private Wealth Management grew its position in salesforce.com by 3.3% during the 4th quarter. Highland Private Wealth Management now owns 2,124 shares of the CRM provider’s stock worth $291,000 after purchasing an additional 68 shares during the period. Asset Dedication LLC grew its position in salesforce.com by 45.3% during the 1st quarter. Asset Dedication LLC now owns 218 shares of the CRM provider’s stock worth $35,000 after purchasing an additional 68 shares during the period. Arcadia Investment Management Corp MI grew its position in salesforce.com by 63.0% during the 1st quarter. Arcadia Investment Management Corp MI now owns 176 shares of the CRM provider’s stock worth $28,000 after purchasing an additional 68 shares during the period. Finally, Fagan Associates Inc. grew its position in salesforce.com by 1.2% during the 1st quarter. Fagan Associates Inc. now owns 5,760 shares of the CRM provider’s stock worth $912,000 after purchasing an additional 70 shares during the period. 81.53% of the stock is currently owned by hedge funds and other institutional investors.

CRM has been the topic of several analyst reports. Nomura set a $184.00 price target on salesforce.com and gave the stock a “buy” rating in a research report on Tuesday, March 5th. Societe Generale set a $186.00 price target on salesforce.com and gave the stock a “buy” rating in a research report on Tuesday, March 5th. SunTrust Banks increased their price target on salesforce.com to $183.00 and gave the stock a “buy” rating in a research report on Tuesday, March 5th. Credit Suisse Group reaffirmed a “buy” rating and set a $175.00 price target on shares of salesforce.com in a research report on Tuesday, March 5th. Finally, Deutsche Bank reaffirmed a “buy” rating on shares of salesforce.com in a research report on Tuesday, March 5th. Four analysts have rated the stock with a hold rating, thirty-six have given a buy rating and one has given a strong buy rating to the company’s stock. salesforce.com currently has a consensus rating of “Buy” and an average target price of $179.97.

In related news, insider Mark J. Hawkins sold 846 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $163.84, for a total value of $138,608.64. Following the transaction, the insider now directly owns 20,348 shares of the company’s stock, valued at approximately $3,333,816.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Mark J. Hawkins sold 15,271 shares of the firm’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $165.08, for a total transaction of $2,520,936.68. Following the completion of the transaction, the insider now directly owns 25,254 shares in the company, valued at $4,168,930.32. The disclosure for this sale can be found here. Insiders sold a total of 416,279 shares of company stock worth $66,048,481 over the last ninety days. 5.50% of the stock is currently owned by corporate insiders.

Shares of salesforce.com stock opened at $150.01 on Monday. The stock has a market capitalization of $116.41 billion, a P/E ratio of 103.46, a P/E/G ratio of 5.73 and a beta of 1.38. salesforce.com, inc. has a twelve month low of $113.60 and a twelve month high of $167.56. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.96 and a current ratio of 0.96.

salesforce.com (NYSE:CRM) last issued its quarterly earnings results on Tuesday, June 4th. The CRM provider reported $0.93 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.32. The firm had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.68 billion. salesforce.com had a net margin of 8.26% and a return on equity of 8.18%. salesforce.com’s quarterly revenue was up 24.3% compared to the same quarter last year. During the same period last year, the company posted $0.74 EPS. Sell-side analysts forecast that salesforce.com, inc. will post 1.21 EPS for the current year.

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About salesforce.com

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.

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Institutional Ownership by Quarter for salesforce.com (NYSE:CRM)

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