Investment analysts at Cleveland Research initiated coverage on shares of salesforce.com (NYSE:CRM) in a note issued to investors on Wednesday, The Fly reports. The brokerage set a “buy” rating on the CRM provider’s stock.
A number of other brokerages also recently weighed in on CRM. Credit Suisse Group upped their target price on salesforce.com from $115.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, November 17th. Needham & Company LLC restated a “hold” rating on shares of salesforce.com in a report on Wednesday, November 22nd. BMO Capital Markets increased their price objective on salesforce.com from $112.00 to $118.00 and gave the stock an “outperform” rating in a report on Wednesday, November 22nd. Goldman Sachs Group set a $122.00 price objective on salesforce.com and gave the stock a “buy” rating in a report on Thursday, November 23rd. Finally, JMP Securities upgraded salesforce.com to a “positive” rating in a report on Friday, October 6th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and forty-four have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $112.86.
salesforce.com (NYSE:CRM) traded up $2.04 during midday trading on Wednesday, hitting $114.27. 1,214,674 shares of the stock were exchanged, compared to its average volume of 3,758,563. salesforce.com has a twelve month low of $77.45 and a twelve month high of $114.41. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $82,440.00, a PE ratio of 11,427.25, a P/E/G ratio of 10.58 and a beta of 1.24.
In other salesforce.com news, insider Mark J. Hawkins sold 16,844 shares of the stock in a transaction on Tuesday, December 26th. The stock was sold at an average price of $101.75, for a total transaction of $1,713,877.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Parker Harris sold 1,850 shares of the stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $112.40, for a total value of $207,940.00. Following the transaction, the insider now owns 15,502 shares of the company’s stock, valued at $1,742,424.80. The disclosure for this sale can be found here. Insiders sold 491,497 shares of company stock valued at $52,854,290 over the last 90 days. 6.20% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Bessemer Group Inc. boosted its holdings in salesforce.com by 196.4% in the fourth quarter. Bessemer Group Inc. now owns 1,150 shares of the CRM provider’s stock valued at $118,000 after acquiring an additional 762 shares during the last quarter. Cerebellum GP LLC bought a new position in salesforce.com during the fourth quarter worth about $125,000. Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its holdings in salesforce.com by 204.3% during the third quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,400 shares of the CRM provider’s stock worth $131,000 after buying an additional 940 shares during the last quarter. People s United Financial Inc. boosted its holdings in salesforce.com by 60.1% during the second quarter. People s United Financial Inc. now owns 1,465 shares of the CRM provider’s stock worth $127,000 after buying an additional 550 shares during the last quarter. Finally, WFG Advisors LP boosted its holdings in salesforce.com by 130.2% during the second quarter. WFG Advisors LP now owns 1,837 shares of the CRM provider’s stock worth $159,000 after buying an additional 1,039 shares during the last quarter. Hedge funds and other institutional investors own 85.60% of the company’s stock.
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salesforce.com Company Profile
Salesforce.com, Inc is a provider of enterprise software, delivered through the cloud, with a focus on customer relationship management (CRM). The Company focuses on cloud, mobile, social, Internet of Things (IoT) and artificial intelligence technologies. The Company’s service offerings are configured and integrated with other platforms and enterprise applications.
