Salesforce.com Inc. (CRM) Position Raised by National Pension Service
National Pension Service boosted its position in Salesforce.com Inc. (NYSE:CRM) by 8.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 416,529 shares of the CRM provider’s stock after buying an additional 33,571 shares during the period. National Pension Service’s holdings in Salesforce.com were worth $29,711,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Iowa State Bank increased its position in shares of Salesforce.com by 2.7% in the second quarter. Iowa State Bank now owns 48,495 shares of the CRM provider’s stock worth $3,851,000 after buying an additional 1,295 shares in the last quarter. Fulton Bank N.A. increased its stake in shares of Salesforce.com by 0.3% in the second quarter. Fulton Bank N.A. now owns 12,763 shares of the CRM provider’s stock valued at $1,014,000 after buying an additional 38 shares in the last quarter. Boltwood Capital Management increased its stake in shares of Salesforce.com by 6.7% in the second quarter. Boltwood Capital Management now owns 10,885 shares of the CRM provider’s stock valued at $864,000 after buying an additional 685 shares in the last quarter. Integrated Investment Consultants LLC increased its stake in shares of Salesforce.com by 1.3% in the second quarter. Integrated Investment Consultants LLC now owns 2,835 shares of the CRM provider’s stock valued at $225,000 after buying an additional 37 shares in the last quarter. Finally, Cullinan Associates Inc. increased its stake in shares of Salesforce.com by 6.6% in the second quarter. Cullinan Associates Inc. now owns 25,690 shares of the CRM provider’s stock valued at $2,040,000 after buying an additional 1,600 shares in the last quarter. Institutional investors own 85.24% of the company’s stock.
Salesforce.com Inc. (NYSE:CRM) traded down 0.22% on Tuesday, reaching $72.77. The company had a trading volume of 1,165,258 shares. Salesforce.com Inc. has a 12 month low of $52.60 and a 12 month high of $84.48. The company’s 50 day moving average price is $74.32 and its 200-day moving average price is $77.55. The company has a market capitalization of $50.70 billion, a price-to-earnings ratio of 246.68 and a beta of 1.55.
Salesforce.com (NYSE:CRM) last released its quarterly earnings data on Thursday, November 17th. The CRM provider reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.03. The business had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.12 billion. Salesforce.com had a return on equity of 2.40% and a net margin of 2.60%. Salesforce.com’s quarterly revenue was up 25.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.21 earnings per share. On average, equities analysts predict that Salesforce.com Inc. will post $0.98 earnings per share for the current fiscal year.
Several brokerages have recently weighed in on CRM. Mizuho restated an “outperform” rating and set a $100.00 price objective on shares of Salesforce.com in a research report on Monday, August 15th. Piper Jaffray Cos. restated an “overweight” rating and set a $100.00 price objective on shares of Salesforce.com in a research report on Monday, August 15th. MKM Partners restated a “buy” rating and set a $96.00 price objective on shares of Salesforce.com in a research report on Friday, August 5th. Stephens began coverage on shares of Salesforce.com in a research report on Tuesday, August 2nd. They set an “overweight” rating for the company. Finally, Vetr upgraded shares of Salesforce.com from a “hold” rating to a “buy” rating and set a $83.92 price target for the company in a research report on Wednesday, August 10th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and forty-two have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $92.05.
In other Salesforce.com news, EVP Burke F. Norton sold 180,000 shares of the company’s stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $74.15, for a total value of $13,347,000.00. Following the sale, the executive vice president now directly owns 253,923 shares in the company, valued at $18,828,390.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Susan Wojcicki purchased 1,356 shares of the stock in a transaction on Monday, September 19th. The stock was bought at an average price of $73.71 per share, for a total transaction of $99,950.76. Following the completion of the transaction, the director now directly owns 14,147 shares of the company’s stock, valued at $1,042,775.37. The disclosure for this purchase can be found here. Insiders own 6.70% of the company’s stock.
salesforce.com, inc. is a provider of enterprise cloud computing solutions, with a focus on customer relationship management (CRM). The Company’s Customer Success Platform, including sales force automation, customer service and support, marketing automation, community management, analytics, application development, Internet of Things (IoT) integration and its professional cloud services, provide the next-generation platform of enterprise applications and services.
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