Gemmer Asset Management LLC Increases Stake in salesforce.com, inc. (CRM)

Gemmer Asset Management LLC increased its holdings in salesforce.com, inc. (NYSE:CRM) by 105.9% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 41,289 shares of the CRM provider’s stock after purchasing an additional 21,236 shares during the period. salesforce.com makes up about 2.0% of Gemmer Asset Management LLC’s holdings, making the stock its 13th biggest holding. Gemmer Asset Management LLC’s holdings in salesforce.com were worth $6,566,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. FMR LLC boosted its position in salesforce.com by 3.5% during the 2nd quarter. FMR LLC now owns 89,621,104 shares of the CRM provider’s stock valued at $12,224,319,000 after buying an additional 3,066,099 shares during the period. BlackRock Inc. boosted its position in salesforce.com by 5.2% during the 2nd quarter. BlackRock Inc. now owns 44,655,653 shares of the CRM provider’s stock valued at $6,091,032,000 after buying an additional 2,212,408 shares during the period. Morgan Stanley boosted its position in salesforce.com by 1.5% during the 2nd quarter. Morgan Stanley now owns 14,496,002 shares of the CRM provider’s stock valued at $1,977,256,000 after buying an additional 214,578 shares during the period. Northern Trust Corp boosted its position in salesforce.com by 1.0% during the 2nd quarter. Northern Trust Corp now owns 9,923,734 shares of the CRM provider’s stock valued at $1,353,597,000 after buying an additional 98,077 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its position in salesforce.com by 14.6% during the 2nd 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 buying an additional 961,104 shares during the period. 82.75% of the stock is owned by institutional investors.

CRM stock traded up $7.52 during trading on Friday, hitting $146.76. 615,257 shares of the stock traded hands, compared to its average volume of 5,404,277. salesforce.com, inc. has a 1 year low of $95.84 and a 1 year high of $161.19. The company has a market capitalization of $120.34 billion, a price-to-earnings ratio of 324.30, a price-to-earnings-growth ratio of 5.23 and a beta of 1.27. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.80 and a current ratio of 0.80.

salesforce.com (NYSE:CRM) last announced its quarterly earnings data on Wednesday, August 29th. The CRM provider reported $0.71 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.24. salesforce.com had a net margin of 6.45% and a return on equity of 8.27%. The company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.23 billion. During the same period in the prior year, the firm posted $0.33 EPS. salesforce.com’s revenue for the quarter was up 27.3% on a year-over-year basis. As a group, research analysts predict that salesforce.com, inc. will post 1.22 earnings per share for the current fiscal year.

Several research analysts have commented on the stock. BMO Capital Markets upgraded shares of salesforce.com to a “top pick” rating in a report on Friday, June 29th. Piper Jaffray Companies upped their price objective on shares of salesforce.com from $150.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, August 15th. Bank of America upped their price objective on shares of salesforce.com from $161.00 to $181.00 and gave the stock a “buy” rating in a report on Tuesday, August 21st. UBS Group upped their price objective on shares of salesforce.com from $153.00 to $168.00 and gave the stock a “buy” rating in a report on Wednesday, August 15th. Finally, Argus upped their price objective on shares of salesforce.com from $141.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, August 31st. Five research analysts have rated the stock with a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the stock. salesforce.com presently has an average rating of “Buy” and a consensus target price of $164.62.

In related news, Director Susan Wojcicki purchased 6,000 shares of the company’s stock in a transaction dated Wednesday, July 25th. The shares were purchased at an average price of $146.22 per share, with a total value of $877,320.00. Following the acquisition, the director now directly owns 77,426 shares in the company, valued at approximately $11,321,229.72. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, General Counsel Amy E. Weaver sold 494 shares of the firm’s stock in a transaction dated Thursday, August 23rd. The shares were sold at an average price of $147.23, for a total transaction of $72,731.62. Following the sale, the general counsel now directly owns 20,764 shares in the company, valued at approximately $3,057,083.72. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 24,000 shares of company stock worth $3,581,220 and have sold 536,708 shares worth $81,339,139. Company insiders own 6.00% of the company’s stock.

salesforce.com Company Profile

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.

Further Reading: Diversification

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

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