HPM Partners LLC raised its position in shares of salesforce.com, inc. (NYSE:CRM) by 11.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 28,778 shares of the CRM provider’s stock after purchasing an additional 2,984 shares during the period. HPM Partners LLC’s holdings in salesforce.com were worth $2,942,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Sandy Spring Bank grew its holdings in salesforce.com by 1.7% during the fourth quarter. Sandy Spring Bank now owns 27,382 shares of the CRM provider’s stock valued at $2,799,000 after purchasing an additional 470 shares during the period. King Luther Capital Management Corp grew its holdings in salesforce.com by 16.3% during the third quarter. King Luther Capital Management Corp now owns 3,414 shares of the CRM provider’s stock valued at $319,000 after purchasing an additional 479 shares during the period. Cetera Advisors LLC grew its holdings in salesforce.com by 17.5% during the fourth quarter. Cetera Advisors LLC now owns 3,259 shares of the CRM provider’s stock valued at $334,000 after purchasing an additional 485 shares during the period. BB&T Corp grew its holdings in salesforce.com by 2.6% during the fourth quarter. BB&T Corp now owns 20,751 shares of the CRM provider’s stock valued at $2,121,000 after purchasing an additional 533 shares during the period. Finally, Sheaff Brock Investment Advisors LLC grew its holdings in salesforce.com by 23.6% during the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 2,826 shares of the CRM provider’s stock valued at $289,000 after purchasing an additional 540 shares during the period. 86.68% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have weighed in on the company. Guggenheim reissued a “buy” rating and set a $128.00 price objective on shares of salesforce.com in a report on Thursday, January 11th. Cleveland Research assumed coverage on salesforce.com in a report on Wednesday, January 31st. They set a “buy” rating for the company. Argus increased their price objective on salesforce.com to $141.00 and gave the company a “buy” rating in a report on Friday, March 2nd. Cowen reaffirmed a “buy” rating and issued a $118.00 price target on shares of salesforce.com in a report on Tuesday, November 21st. Finally, Vetr raised salesforce.com from a “hold” rating to a “buy” rating and set a $113.54 price target for the company in a report on Monday, February 12th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and forty-four have assigned a buy rating to the company’s stock. salesforce.com presently has a consensus rating of “Buy” and a consensus target price of $123.51.
salesforce.com (NYSE:CRM) last released its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $0.35 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.01. The firm had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.81 billion. salesforce.com had a return on equity of 3.86% and a net margin of 1.22%. The company’s quarterly revenue was up 24.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.28 earnings per share. research analysts expect that salesforce.com, inc. will post 0.9 EPS for the current year.
In other news, insider Mark J. Hawkins sold 16,844 shares of salesforce.com stock in a transaction dated Tuesday, December 26th. The stock was sold at an average price of $101.75, for a total value of $1,713,877.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Craig Conway sold 1,548 shares of salesforce.com stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $104.63, for a total value of $161,967.24. Following the completion of the transaction, the director now owns 9,614 shares in the company, valued at approximately $1,005,912.82. The disclosure for this sale can be found here. In the last quarter, insiders sold 248,557 shares of company stock worth $27,603,409. Company insiders own 6.20% of the company’s stock.
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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.
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