Bank of Montreal Can Buys 722,512 Shares of salesforce.com, inc. (CRM)

Bank of Montreal Can lifted its stake in salesforce.com, inc. (NYSE:CRM) by 63.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,857,113 shares of the CRM provider’s stock after purchasing an additional 722,512 shares during the quarter. Bank of Montreal Can owned about 0.25% of salesforce.com worth $295,337,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CRM. FMR LLC increased its holdings in shares of salesforce.com by 3.5% in the second quarter. FMR LLC now owns 89,621,104 shares of the CRM provider’s stock valued at $12,224,319,000 after purchasing an additional 3,066,099 shares during the last quarter. BlackRock Inc. increased its holdings in shares of salesforce.com by 5.2% in the second quarter. BlackRock Inc. now owns 44,655,653 shares of the CRM provider’s stock valued at $6,091,032,000 after purchasing an additional 2,212,408 shares during the last quarter. Summit Trail Advisors LLC increased its holdings in shares of salesforce.com by 13,535.6% in the first quarter. Summit Trail Advisors LLC now owns 1,814,629 shares of the CRM provider’s stock valued at $1,815,000 after purchasing an additional 1,801,321 shares during the last quarter. OppenheimerFunds Inc. increased its holdings in shares of salesforce.com by 13,746.1% in the second quarter. OppenheimerFunds Inc. now owns 1,034,856 shares of the CRM provider’s stock valued at $141,154,000 after purchasing an additional 1,027,382 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of salesforce.com by 14.6% in 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 purchasing an additional 961,104 shares during the last quarter. 82.75% of the stock is owned by hedge funds and other institutional investors.

Several research firms recently commented on CRM. Rosenblatt Securities reaffirmed a “buy” rating and issued a $178.00 price target on shares of salesforce.com in a report on Tuesday, October 2nd. Robert W. Baird increased their price target on salesforce.com from $170.00 to $180.00 and gave the company an “outperform” rating in a report on Friday, September 28th. Deutsche Bank increased their price target on salesforce.com from $170.00 to $180.00 and gave the company a “buy” rating in a report on Friday, September 28th. Piper Jaffray Companies increased their price target on salesforce.com from $180.00 to $190.00 and gave the company an “overweight” rating in a report on Friday, September 28th. Finally, Cowen increased their price target on salesforce.com from $170.00 to $180.00 and gave the company an “outperform” rating in a report on Thursday, September 27th. Five investment analysts have rated the stock with a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $164.62.

In related news, Director Susan Wojcicki bought 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 10th. The stock was purchased at an average cost of $146.70 per share, for a total transaction of $880,200.00. Following the completion of the acquisition, the director now owns 96,120 shares in the company, valued at approximately $14,100,804. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Amy E. Weaver sold 5,325 shares of salesforce.com stock in a transaction on Monday, October 1st. The shares were sold at an average price of $160.11, for a total value of $852,585.75. Following the completion of 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 quarter, insiders purchased 24,000 shares of company stock valued at $3,581,220 and sold 536,708 shares valued at $81,339,139. Company insiders own 6.00% of the company’s stock.

Shares of CRM traded up $7.86 during midday trading on Friday, hitting $147.10. 570,226 shares of the stock were exchanged, compared to its average volume of 5,404,277. salesforce.com, inc. has a 52-week low of $95.84 and a 52-week high of $161.19. The firm has a market cap of $120.34 billion, a P/E ratio of 324.30, a P/E/G ratio of 5.23 and a beta of 1.27. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.23.

salesforce.com (NYSE:CRM) last released its quarterly earnings results on Wednesday, August 29th. The CRM provider reported $0.71 EPS for the quarter, topping the consensus estimate of $0.47 by $0.24. salesforce.com had a return on equity of 8.27% and a net margin of 6.45%. The business had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.23 billion. During the same period last year, the business posted $0.33 earnings per share. The company’s quarterly revenue was up 27.3% on a year-over-year basis. Sell-side analysts expect that salesforce.com, inc. will post 1.22 earnings per share for the current year.

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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