Pacific Wealth Strategies Group Inc. grew its holdings in shares of salesforce.com, inc. (NYSE:CRM) by 29.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,121 shares of the CRM provider’s stock after purchasing an additional 1,857 shares during the quarter. Pacific Wealth Strategies Group Inc.’s holdings in salesforce.com were worth $1,803,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the business. Advisors Asset Management Inc. raised its holdings in salesforce.com by 31.8% during the 3rd quarter. Advisors Asset Management Inc. now owns 30,405 shares of the CRM provider’s stock valued at $7,641,000 after buying an additional 7,328 shares during the period. Alkeon Capital Management LLC purchased a new stake in salesforce.com during the 3rd quarter valued at $326,716,000. Trust Co. of Toledo NA OH raised its holdings in salesforce.com by 24.0% during the 4th quarter. Trust Co. of Toledo NA OH now owns 17,677 shares of the CRM provider’s stock valued at $3,934,000 after buying an additional 3,423 shares during the period. Weld Capital Management LLC purchased a new stake in salesforce.com during the 3rd quarter valued at $1,138,000. Finally, UBS Asset Management Americas Inc. raised its holdings in salesforce.com by 4.8% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 4,909,370 shares of the CRM provider’s stock valued at $1,233,823,000 after buying an additional 225,542 shares during the period. Hedge funds and other institutional investors own 80.20% of the company’s stock.
CRM stock traded up $2.66 during trading on Wednesday, reaching $218.18. 6,607,377 shares of the company traded hands, compared to its average volume of 8,657,937. The business has a 50 day simple moving average of $226.49 and a 200 day simple moving average of $229.45. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.22 and a current ratio of 1.22. salesforce.com, inc. has a 12 month low of $115.29 and a 12 month high of $284.50. The company has a market capitalization of $199.63 billion, a price-to-earnings ratio of 56.97, a price-to-earnings-growth ratio of 5.65 and a beta of 1.17.
salesforce.com (NYSE:CRM) last announced its quarterly earnings data on Monday, November 30th. The CRM provider reported $1.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.99. The firm had revenue of $5.42 million during the quarter, compared to analysts’ expectations of $5.25 billion. salesforce.com had a return on equity of 6.63% and a net margin of 17.53%. The company’s revenue for the quarter was down 99.9% compared to the same quarter last year. During the same period last year, the business posted $0.75 earnings per share. As a group, research analysts forecast that salesforce.com, inc. will post 2.81 EPS for the current year.
In related news, CAO Joe Allanson sold 167 shares of salesforce.com stock in a transaction that occurred on Monday, November 23rd. The stock was sold at an average price of $257.35, for a total transaction of $42,977.45. Following the completion of the transaction, the chief accounting officer now directly owns 31,439 shares in the company, valued at $8,090,826.65. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Amy E. Weaver sold 5,800 shares of salesforce.com stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $258.11, for a total value of $1,497,038.00. Following the transaction, the insider now owns 26,064 shares of the company’s stock, valued at $6,727,379.04. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 207,999 shares of company stock valued at $50,912,874. 4.40% of the stock is owned by company insiders.
CRM has been the topic of several recent research reports. KeyCorp initiated coverage on salesforce.com in a report on Monday, November 23rd. They set an “overweight” rating and a $310.00 price target on the stock. Raymond James increased their price target on salesforce.com from $255.00 to $280.00 and gave the company a “strong-buy” rating in a report on Wednesday, December 2nd. The Goldman Sachs Group restated a “buy” rating and set a $260.00 price target on shares of salesforce.com in a report on Wednesday, December 9th. Pritchard Capital lowered salesforce.com from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $300.00 to $250.00 in a research note on Wednesday, December 2nd. Finally, Sanford C. Bernstein set a $234.00 target price on salesforce.com and gave the stock a “neutral” rating in a research note on Wednesday, December 2nd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-seven have issued a buy rating and three have given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $259.97.
salesforce.com Company Profile
salesforce.com, inc. develops enterprise cloud computing solutions with a focus on customer relationship management worldwide. 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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