Commonwealth Equity Services LLC lifted its position in shares of salesforce.com, inc. (NYSE:CRM) by 4.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 122,073 shares of the CRM provider’s stock after purchasing an additional 5,466 shares during the period. Commonwealth Equity Services LLC’s holdings in salesforce.com were worth $19,332,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc raised its stake in shares of salesforce.com by 4.6% during the third quarter. Vanguard Group Inc now owns 54,471,296 shares of the CRM provider’s stock valued at $8,662,570,000 after acquiring an additional 2,398,648 shares in the last quarter. Buckingham Capital Management Inc. raised its stake in shares of salesforce.com by 8.1% during the fourth quarter. Buckingham Capital Management Inc. now owns 32,519 shares of the CRM provider’s stock valued at $4,454,000 after acquiring an additional 2,439 shares in the last quarter. Comerica Securities Inc. raised its stake in shares of salesforce.com by 10.6% during the fourth quarter. Comerica Securities Inc. now owns 1,704 shares of the CRM provider’s stock valued at $233,000 after acquiring an additional 163 shares in the last quarter. Winch Advisory Services LLC raised its stake in shares of salesforce.com by 2.9% during the fourth quarter. Winch Advisory Services LLC now owns 21,787 shares of the CRM provider’s stock valued at $2,984,000 after acquiring an additional 614 shares in the last quarter. Finally, Bollard Group LLC bought a new stake in shares of salesforce.com during the fourth quarter valued at approximately $68,000. 82.14% of the stock is currently owned by institutional investors and hedge funds.
NYSE CRM opened at $151.28 on Thursday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.96 and a current ratio of 0.96. salesforce.com, inc. has a 12-month low of $113.60 and a 12-month high of $167.56. The firm has a market capitalization of $116.52 billion, a price-to-earnings ratio of 104.33, a PEG ratio of 5.00 and a beta of 1.39.
salesforce.com (NYSE:CRM) last released its quarterly earnings results on Tuesday, June 4th. The CRM provider reported $0.93 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.32. salesforce.com had a net margin of 8.26% and a return on equity of 8.18%. The business had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.68 billion. During the same period in the previous year, the company earned $0.74 earnings per share. The business’s revenue for the quarter was up 24.3% on a year-over-year basis. Sell-side analysts anticipate that salesforce.com, inc. will post 1.43 EPS for the current year.
In other salesforce.com news, CEO Marc Benioff sold 5,000 shares of salesforce.com stock in a transaction on Friday, March 15th. The shares were sold at an average price of $161.02, for a total value of $805,100.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Parker Harris sold 620 shares of salesforce.com stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $151.38, for a total transaction of $93,855.60. Following the completion of the transaction, the insider now directly owns 29,438 shares in the company, valued at $4,456,324.44. The disclosure for this sale can be found here. Insiders sold 418,666 shares of company stock worth $66,561,480 over the last ninety days. Corporate insiders own 5.50% of the company’s stock.
Several analysts have recently weighed in on the stock. Bank of America reaffirmed a “buy” rating and set a $200.00 price target on shares of salesforce.com in a research note on Monday, May 20th. Nomura reaffirmed a “buy” rating on shares of salesforce.com in a research note on Tuesday, May 28th. UBS Group set a $190.00 price target on shares of salesforce.com and gave the company a “buy” rating in a research note on Tuesday. ValuEngine downgraded shares of salesforce.com from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Exane BNP Paribas assumed coverage on shares of salesforce.com in a research note on Friday, March 29th. They set an “outperform” rating for the company. Four research analysts have rated the stock with a hold rating, thirty-six have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $180.03.
TRADEMARK VIOLATION NOTICE: “Commonwealth Equity Services LLC Purchases 5,466 Shares of salesforce.com, inc. (NYSE:CRM)” was posted by Transcript Daily and is owned by of Transcript Daily. If you are viewing this story on another site, it was copied illegally and republished in violation of US and international trademark & copyright law. The correct version of this story can be read at https://transcriptdaily.com/2019/06/13/commonwealth-equity-services-llc-purchases-5466-shares-of-salesforce-com-inc-nysecrm.html.
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.
Featured Story: Investing in Blue-Chip Stocks
Want to see what other hedge funds are holding CRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for salesforce.com, inc. (NYSE:CRM).
Receive News & Ratings for salesforce.com Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for salesforce.com and related companies with MarketBeat.com's FREE daily email newsletter.