Ashmore Wealth Management LLC Takes Position in salesforce.com, inc. (CRM)

Ashmore Wealth Management LLC acquired a new stake in salesforce.com, inc. (NYSE:CRM) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 196,914 shares of the CRM provider’s stock, valued at approximately $31,315,000. salesforce.com makes up about 1.6% of Ashmore Wealth Management LLC’s portfolio, making the stock its 20th largest holding.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CRM. FMR LLC increased its stake in shares of salesforce.com by 3.5% in the 2nd 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 stake in shares of salesforce.com by 5.1% in the 3rd quarter. BlackRock Inc. now owns 46,948,526 shares of the CRM provider’s stock valued at $7,466,224,000 after purchasing an additional 2,292,873 shares during the last quarter. OppenheimerFunds Inc. increased its stake in shares of salesforce.com by 13,746.1% in the 2nd 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. Mainstay Capital Management LLC ADV increased its stake in shares of salesforce.com by 7,692.8% in the 2nd quarter. Mainstay Capital Management LLC ADV now owns 931,003 shares of the CRM provider’s stock valued at $7,081,000 after purchasing an additional 919,056 shares during the last quarter. Finally, Bank of Montreal Can increased its stake in shares of salesforce.com by 63.7% in the 3rd quarter. Bank of Montreal Can now owns 1,857,113 shares of the CRM provider’s stock valued at $295,337,000 after purchasing an additional 722,512 shares during the last quarter. 83.59% of the stock is owned by hedge funds and other institutional investors.

In other salesforce.com news, Chairman Marc Benioff sold 10,000 shares of the company’s stock in a transaction dated Thursday, November 29th. The stock was sold at an average price of $138.49, for a total value of $1,384,900.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Susan Wojcicki purchased 6,000 shares of salesforce.com stock in a transaction on Monday, September 17th. The stock was bought at an average price of $157.57 per share, for a total transaction of $945,420.00. Following the transaction, the director now directly owns 90,320 shares in the company, valued at approximately $14,231,722.40. The disclosure for this purchase can be found here. Insiders sold a total of 495,038 shares of company stock worth $72,864,126 in the last quarter. Corporate insiders own 6.00% of the company’s stock.

Several equities analysts have recently issued reports on CRM shares. SunTrust Banks lifted their price target on salesforce.com to $170.00 and gave the company a “positive” rating in a research note on Thursday, August 30th. TheStreet lowered salesforce.com from a “b-” rating to a “c+” rating in a research note on Friday, October 26th. Pivotal Research lifted their price target on salesforce.com from $120.00 to $140.00 and gave the company a “hold” rating in a research note on Tuesday, September 4th. Morgan Stanley lifted their price target on salesforce.com from $153.00 to $178.00 and gave the company an “overweight” rating in a research note on Tuesday, August 14th. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $182.00 price target on shares of salesforce.com in a research note on Wednesday, November 28th. Four equities research analysts have rated the stock with a hold rating, thirty-five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $168.08.

NYSE CRM opened at $142.76 on Monday. salesforce.com, inc. has a 12 month low of $98.68 and a 12 month high of $161.19. The stock has a market capitalization of $109.21 billion, a price-to-earnings ratio of 317.24, a P/E/G ratio of 4.33 and a beta of 1.38. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.80 and a current ratio of 0.86.

salesforce.com (NYSE:CRM) last released its quarterly earnings results on Tuesday, November 27th. The CRM provider reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.11. salesforce.com had a return on equity of 8.06% and a net margin of 6.51%. The firm had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.37 billion. During the same quarter in the previous year, the company posted $0.39 EPS. The business’s revenue was up 25.6% on a year-over-year basis. Equities research analysts expect that salesforce.com, inc. will post 1.32 EPS for the current year.

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salesforce.com 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.

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

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