IBM Retirement Fund Trims Stake in salesforce.com, inc. (CRM)

IBM Retirement Fund cut its position in salesforce.com, inc. (NYSE:CRM) by 4.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,301 shares of the CRM provider’s stock after selling 629 shares during the period. IBM Retirement Fund’s holdings in salesforce.com were worth $1,685,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Patriot Financial Group Insurance Agency LLC acquired a new position in salesforce.com during the 4th quarter valued at about $28,000. Intercontinental Wealth Advisors LLC acquired a new position in salesforce.com during the 4th quarter valued at about $36,000. Semmax Financial Advisors Inc. acquired a new position in salesforce.com during the 4th quarter valued at about $36,000. Certified Advisory Corp boosted its stake in salesforce.com by 52.4% during the 4th quarter. Certified Advisory Corp now owns 291 shares of the CRM provider’s stock valued at $40,000 after purchasing an additional 100 shares during the last quarter. Finally, Doyle Wealth Management acquired a new position in salesforce.com during the 4th quarter valued at about $41,000. Institutional investors own 82.84% of the company’s stock.

CRM has been the subject of a number of analyst reports. ValuEngine upgraded salesforce.com from a “hold” rating to a “buy” rating in a research note on Wednesday, January 2nd. Macquarie lifted their price target on salesforce.com from $174.00 to $188.00 and gave the company an “outperform” rating in a research note on Tuesday, March 5th. Royal Bank of Canada reiterated a “buy” rating and set a $182.00 price target on shares of salesforce.com in a research note on Wednesday, November 28th. Robert W. Baird lifted their price target on salesforce.com from $165.00 to $175.00 and gave the company an “outperform” rating in a research note on Tuesday, March 5th. Finally, Zacks Investment Research downgraded salesforce.com from a “buy” rating to a “hold” rating in a research note on Thursday, March 7th. Three equities research analysts have rated the stock with a hold rating, thirty-five have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $177.82.

Shares of CRM stock opened at $161.51 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.86 and a debt-to-equity ratio of 0.20. salesforce.com, inc. has a 1 year low of $111.34 and a 1 year high of $166.15. The firm has a market cap of $124.52 billion, a price-to-earnings ratio of 111.39, a price-to-earnings-growth ratio of 5.26 and a beta of 1.40.

salesforce.com (NYSE:CRM) last issued its earnings results on Monday, March 4th. The CRM provider reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.14. salesforce.com had a net margin of 8.36% and a return on equity of 8.42%. The business had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.56 billion. During the same quarter in the previous year, the firm posted $0.35 EPS. As a group, sell-side analysts expect that salesforce.com, inc. will post 1.31 EPS for the current fiscal year.

In other news, CEO Keith Block sold 5,000 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $159.53, for a total transaction of $797,650.00. Following the completion of the transaction, the chief executive officer now directly owns 29,089 shares in the company, valued at approximately $4,640,568.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Marc Benioff sold 157,472 shares of the business’s stock in a transaction on Wednesday, December 19th. The shares were sold at an average price of $133.21, for a total transaction of $20,976,845.12. Following the transaction, the chairman now owns 32,179,928 shares of the company’s stock, valued at $4,286,688,208.88. The disclosure for this sale can be found here. Insiders have sold a total of 548,729 shares of company stock worth $79,673,057 in the last three months. Insiders own 6.00% of the company’s stock.

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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.

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

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