Heritage Investors Management Corp grew its position in shares of salesforce.com, inc. (NYSE:CRM) by 13.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,617 shares of the CRM provider’s stock after purchasing an additional 1,800 shares during the period. Heritage Investors Management Corp’s holdings in salesforce.com were worth $2,484,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of CRM. Botty Investors LLC bought a new stake in shares of salesforce.com in the third quarter worth $123,000. Psagot Investment House Ltd. bought a new stake in shares of salesforce.com in the third quarter worth $134,000. Resources Investment Advisors Inc. increased its stake in shares of salesforce.com by 328.2% in the second quarter. Resources Investment Advisors Inc. now owns 1,259 shares of the CRM provider’s stock worth $172,000 after buying an additional 965 shares during the last quarter. United Capital Management of KS Inc. bought a new stake in shares of salesforce.com in the third quarter worth $193,000. Finally, Sky Investment Group LLC bought a new stake in shares of salesforce.com in the third quarter worth $204,000. Institutional investors own 83.01% of the company’s stock.
In other news, General Counsel Amy E. Weaver sold 494 shares of the business’s stock in a transaction on Thursday, August 23rd. The shares were sold at an average price of $147.23, for a total transaction of $72,731.62. Following the completion of the transaction, the general counsel now owns 20,764 shares of the company’s stock, valued at $3,057,083.72. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Marc Benioff sold 10,000 shares of the business’s stock in a transaction on Monday, August 13th. The shares were sold at an average price of $145.58, for a total transaction of $1,455,800.00. The disclosure for this sale can be found here. In the last three months, insiders have bought 18,000 shares of company stock valued at $2,703,900 and have sold 503,678 shares valued at $75,870,740. Insiders own 6.00% of the company’s stock.
A number of analysts recently issued reports on CRM shares. Zacks Investment Research lowered shares of salesforce.com from a “hold” rating to a “sell” rating in a research note on Tuesday, July 31st. KeyCorp lifted their price target on shares of salesforce.com from $147.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, August 30th. UBS Group lifted their price target on shares of salesforce.com from $168.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday, August 30th. Piper Jaffray Companies restated a “buy” rating on shares of salesforce.com in a research note on Thursday, August 30th. Finally, BMO Capital Markets lifted their price target on shares of salesforce.com from $165.00 to $174.00 and gave the stock a “market perform” rating in a research note on Monday, October 15th. Six research analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and two have issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $166.41.
Shares of CRM opened at $136.92 on Friday. salesforce.com, inc. has a 1 year low of $98.68 and a 1 year high of $161.19. The firm has a market cap of $107.29 billion, a PE ratio of 121.19, a PEG ratio of 4.66 and a beta of 1.38. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.80 and a quick ratio of 0.80.
salesforce.com (NYSE:CRM) last announced its quarterly earnings results on Wednesday, August 29th. The CRM provider reported $0.71 earnings per share (EPS) for the quarter, beating the 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 during the quarter, compared to the consensus estimate of $3.23 billion. During the same quarter in the previous year, the company posted $0.33 earnings per share. The company’s revenue for the quarter was up 27.3% compared to the same quarter last year. On average, analysts anticipate that salesforce.com, inc. will post 1.22 earnings per share for the current year.
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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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