Marks Group Wealth Management Inc Purchases 499 Shares of salesforce.com, inc. (NYSE:CRM)

Marks Group Wealth Management Inc grew its stake in shares of salesforce.com, inc. (NYSE:CRM) by 2.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 20,551 shares of the CRM provider’s stock after buying an additional 499 shares during the quarter. Marks Group Wealth Management Inc’s holdings in salesforce.com were worth $5,019,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. MBM Wealth Consultants LLC bought a new stake in shares of salesforce.com in the first quarter worth $25,000. Atlas Private Wealth Advisors lifted its holdings in salesforce.com by 115.3% in the second quarter. Atlas Private Wealth Advisors now owns 127 shares of the CRM provider’s stock valued at $31,000 after buying an additional 68 shares during the period. Sage Financial Management Group Inc. acquired a new position in salesforce.com in the first quarter valued at $32,000. First PREMIER Bank acquired a new position in salesforce.com in the second quarter valued at $32,000. Finally, Providence Capital Advisors LLC lifted its holdings in salesforce.com by 87.2% in the first quarter. Providence Capital Advisors LLC now owns 161 shares of the CRM provider’s stock valued at $34,000 after buying an additional 75 shares during the period. 77.33% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts have recently weighed in on the stock. Societe Generale upped their price objective on shares of salesforce.com from $290.00 to $321.00 and gave the company a “buy” rating in a report on Friday, August 27th. Sanford C. Bernstein upped their target price on shares of salesforce.com from $266.00 to $290.00 and gave the stock a “market perform” rating in a report on Thursday, August 26th. BMO Capital Markets upped their target price on shares of salesforce.com from $280.00 to $310.00 and gave the stock an “outperform” rating in a report on Thursday, August 26th. JMP Securities upped their price objective on shares of salesforce.com from $282.00 to $320.00 and gave the stock a “market outperform” rating in a research report on Wednesday, August 18th. Finally, Stifel Nicolaus upped their price objective on shares of salesforce.com from $295.00 to $315.00 and gave the stock a “buy” rating in a research report on Thursday, August 26th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, thirty-one have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $298.33.

CRM traded up $0.52 on Wednesday, hitting $254.89. 186,589 shares of the company’s stock were exchanged, compared to its average volume of 6,409,822. salesforce.com, inc. has a fifty-two week low of $201.51 and a fifty-two week high of $275.22. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.19. The firm has a 50-day moving average price of $251.35 and a 200-day moving average price of $235.19. The stock has a market cap of $249.54 billion, a price-to-earnings ratio of 102.20, a P/E/G ratio of 7.35 and a beta of 1.09.

salesforce.com (NYSE:CRM) last issued its quarterly earnings data on Tuesday, August 24th. The CRM provider reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.56. The firm had revenue of $6.34 billion for the quarter, compared to analyst estimates of $6.25 billion. salesforce.com had a net margin of 9.99% and a return on equity of 7.15%. salesforce.com’s revenue was up 23.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.44 EPS. On average, equities analysts predict that salesforce.com, inc. will post 2.09 EPS for the current year.

In other salesforce.com news, CEO Marc Benioff sold 20,000 shares of the company’s stock in a transaction on Monday, September 13th. The stock was sold at an average price of $253.59, for a total value of $5,071,800.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Joe Allanson sold 313 shares of the stock in a transaction on Wednesday, June 23rd. The shares were sold at an average price of $242.40, for a total value of $75,871.20. Following the sale, the chief accounting officer now directly owns 31,398 shares in the company, valued at approximately $7,610,875.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 776,356 shares of company stock valued at $194,260,597. Corporate insiders own 4.10% of the company’s stock.

salesforce.com Profile

salesforce.com, inc. engages in the design and development of cloud-based enterprise software for customer relationship management. Its solutions include sales force automation, customer service and support, marketing automation, digital commerce, community management, collaboration, industry-specific solutions, and salesforce platform.

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

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