Fulton Breakefield Broenniman LLC boosted its position in shares of salesforce.com, inc. (NYSE:CRM) by 4.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 35,250 shares of the CRM provider’s stock after buying an additional 1,566 shares during the quarter. Fulton Breakefield Broenniman LLC’s holdings in salesforce.com were worth $5,733,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Keudell Morrison Wealth Management lifted its stake in salesforce.com by 486.1% in the second quarter. Keudell Morrison Wealth Management now owns 14,261 shares of the CRM provider’s stock worth $2,164,000 after acquiring an additional 11,828 shares during the period. Pictet Asset Management Ltd. lifted its position in shares of salesforce.com by 5.5% in the 2nd quarter. Pictet Asset Management Ltd. now owns 1,204,072 shares of the CRM provider’s stock worth $182,694,000 after purchasing an additional 62,393 shares during the period. United Capital Financial Advisers LLC lifted its position in shares of salesforce.com by 13.3% in the 2nd quarter. United Capital Financial Advisers LLC now owns 44,670 shares of the CRM provider’s stock worth $6,778,000 after purchasing an additional 5,242 shares during the period. NumerixS Investment Technologies Inc lifted its position in shares of salesforce.com by 214.1% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 4,397 shares of the CRM provider’s stock worth $667,000 after purchasing an additional 2,997 shares during the period. Finally, Lido Advisors LLC boosted its stake in shares of salesforce.com by 22.5% during the 2nd quarter. Lido Advisors LLC now owns 6,277 shares of the CRM provider’s stock valued at $952,000 after purchasing an additional 1,154 shares in the last quarter. 80.42% of the stock is owned by institutional investors and hedge funds.
CRM has been the subject of several research analyst reports. Sanford C. Bernstein restated a “neutral” rating and issued a $175.00 price objective on shares of salesforce.com in a report on Wednesday, December 4th. Mizuho reiterated a “buy” rating and set a $195.00 target price on shares of salesforce.com in a report on Thursday, November 21st. Piper Jaffray Companies began coverage on salesforce.com in a research report on Wednesday, November 13th. They issued an “overweight” rating and a $190.00 target price for the company. Jefferies Financial Group restated a “buy” rating and issued a $195.00 target price (up previously from $171.00) on shares of salesforce.com in a research note on Sunday, November 17th. Finally, Credit Suisse Group upped their price target on salesforce.com from $185.00 to $215.00 and gave the stock an “outperform” rating in a research note on Monday. Five investment analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $192.80.
CRM traded down $1.73 during trading on Tuesday, hitting $182.12. 4,341,490 shares of the company’s stock traded hands, compared to its average volume of 6,024,278. The company’s 50 day simple moving average is $165.12 and its two-hundred day simple moving average is $155.86. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.16. salesforce.com, inc. has a 12-month low of $137.87 and a 12-month high of $184.45. The stock has a market capitalization of $159.84 billion, a price-to-earnings ratio of 125.60, a PEG ratio of 7.52 and a beta of 1.22.
salesforce.com (NYSE:CRM) last posted its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $0.75 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.09. The firm had revenue of $4.51 billion during the quarter, compared to analysts’ expectations of $4.45 billion. salesforce.com had a return on equity of 5.37% and a net margin of 4.64%. The company’s revenue was up 33.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.61 earnings per share. On average, equities analysts expect that salesforce.com, inc. will post 1.28 EPS for the current year.
In related news, CFO Mark J. Hawkins sold 87,774 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $160.14, for a total transaction of $14,056,128.36. Following the transaction, the chief financial officer now owns 42,780 shares in the company, valued at $6,850,789.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Parker Harris sold 620 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $143.68, for a total transaction of $89,081.60. Following the completion of the sale, the insider now owns 32,034 shares in the company, valued at approximately $4,602,645.12. The disclosure for this sale can be found here. Insiders sold a total of 395,741 shares of company stock valued at $63,928,887 over the last quarter. 5.50% of the stock is owned by corporate insiders.
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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