Hartford Investment Management Co. raised its holdings in shares of salesforce.com, inc. (NYSE:CRM) by 2.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 91,909 shares of the CRM provider’s stock after purchasing an additional 1,903 shares during the quarter. Hartford Investment Management Co.’s holdings in salesforce.com were worth $13,945,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. Arizona State Retirement System raised its stake in shares of salesforce.com by 4.8% in the second quarter. Arizona State Retirement System now owns 165,131 shares of the CRM provider’s stock valued at $25,055,000 after acquiring an additional 7,525 shares during the period. Brookstone Capital Management purchased a new stake in shares of salesforce.com in the second quarter valued at $214,000. M&R Capital Management Inc. raised its stake in shares of salesforce.com by 85.7% in the second quarter. M&R Capital Management Inc. now owns 650 shares of the CRM provider’s stock valued at $98,000 after acquiring an additional 300 shares during the period. Westside Investment Management Inc. purchased a new stake in shares of salesforce.com in the second quarter valued at $16,195,000. Finally, Texas Yale Capital Corp. purchased a new stake in shares of salesforce.com in the second quarter valued at $287,000. Institutional investors and hedge funds own 81.64% of the company’s stock.
In other salesforce.com news, Director Craig Conway sold 200 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $158.85, for a total transaction of $31,770.00. Following the transaction, the director now owns 9,336 shares of the company’s stock, valued at approximately $1,483,023.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Marc Benioff sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $158.94, for a total transaction of $794,700.00. The disclosure for this sale can be found here. Insiders have sold a total of 333,547 shares of company stock worth $51,704,112 in the last three months. Insiders own 5.50% of the company’s stock.
Several equities research analysts have recently weighed in on the stock. Sanford C. Bernstein reissued a “neutral” rating and issued a $169.00 target price on shares of salesforce.com in a research note on Tuesday, June 11th. UBS Group set a $190.00 target price on shares of salesforce.com and gave the company a “buy” rating in a research note on Tuesday, June 11th. Bank of America reissued a “buy” rating and issued a $200.00 target price on shares of salesforce.com in a research note on Wednesday, June 5th. ValuEngine downgraded shares of salesforce.com from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Credit Suisse Group reissued an “outperform” rating on shares of salesforce.com in a research note on Thursday, June 6th. Four investment analysts have rated the stock with a hold rating, thirty-five have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $180.11.
NYSE CRM opened at $141.32 on Monday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.34. The stock has a market cap of $113.06 billion, a P/E ratio of 97.46, a price-to-earnings-growth ratio of 5.35 and a beta of 1.27. The firm’s 50-day simple moving average is $154.93. salesforce.com, inc. has a one year low of $113.60 and a one year high of $167.56.
salesforce.com (NYSE:CRM) last posted its earnings results on Tuesday, June 4th. The CRM provider reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.32. The business had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.68 billion. salesforce.com had a net margin of 8.26% and a return on equity of 8.18%. The company’s revenue for the quarter was up 24.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.74 EPS. As a group, equities research analysts expect that salesforce.com, inc. will post 1.25 earnings per share for the current year.
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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