Janney Montgomery Scott LLC increased its holdings in shares of salesforce.com, inc. (NYSE:CRM) by 9.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 80,477 shares of the CRM provider’s stock after buying an additional 6,907 shares during the quarter. Janney Montgomery Scott LLC’s holdings in salesforce.com were worth $12,798,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Botty Investors LLC acquired a new position in salesforce.com in the 3rd quarter worth about $123,000. Psagot Investment House Ltd. acquired a new position in salesforce.com in the 3rd quarter worth about $134,000. Resources Investment Advisors Inc. increased its holdings in salesforce.com by 328.2% in the 2nd quarter. Resources Investment Advisors Inc. now owns 1,259 shares of the CRM provider’s stock worth $172,000 after purchasing an additional 965 shares in the last quarter. CWM LLC increased its holdings in salesforce.com by 95.8% in the 2nd quarter. CWM LLC now owns 1,318 shares of the CRM provider’s stock worth $180,000 after purchasing an additional 645 shares in the last quarter. Finally, United Capital Management of KS Inc. acquired a new position in salesforce.com in the 3rd quarter worth about $193,000. Institutional investors and hedge funds own 83.01% of the company’s stock.
In related news, Chairman Marc Benioff sold 10,000 shares of the company’s stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $145.58, for a total transaction of $1,455,800.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Susan Wojcicki bought 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 14th. The shares were acquired at an average price of $146.38 per share, for a total transaction of $878,280.00. Following the transaction, the director now owns 83,426 shares in the company, valued at $12,211,897.88. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 18,000 shares of company stock worth $2,703,900 and have sold 503,678 shares worth $75,870,740. 6.00% of the stock is owned by corporate insiders.
Shares of salesforce.com stock opened at $136.92 on Friday. salesforce.com, inc. has a one year low of $98.68 and a one year high of $161.19. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a market cap of $107.29 billion, a P/E ratio of 304.27, a price-to-earnings-growth ratio of 4.66 and a beta of 1.38.
salesforce.com (NYSE:CRM) last announced its earnings results on Wednesday, August 29th. The CRM provider reported $0.71 EPS for the quarter, beating 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 company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.23 billion. During the same quarter in the prior year, the company earned $0.33 EPS. The firm’s revenue for the quarter was up 27.3% compared to the same quarter last year. Equities research analysts expect that salesforce.com, inc. will post 1.22 earnings per share for the current fiscal year.
A number of equities analysts have issued reports on CRM shares. Zacks Investment Research cut salesforce.com from a “hold” rating to a “sell” rating in a report on Tuesday, July 31st. KeyCorp upped their target price on salesforce.com from $147.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday, August 30th. UBS Group upped their target price on salesforce.com from $168.00 to $180.00 and gave the stock a “buy” rating in a report on Thursday, August 30th. Piper Jaffray Companies reaffirmed a “buy” rating on shares of salesforce.com in a report on Thursday, August 30th. Finally, BMO Capital Markets upped their target price on salesforce.com from $165.00 to $174.00 and gave the stock a “market perform” rating in a report on Monday, October 15th. Six research analysts have rated the stock with a hold rating, thirty-four have given a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $166.41.
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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