Sompo Japan Nipponkoa Asset Management CO. LTD. acquired a new stake in shares of salesforce.com, inc. (NYSE:CRM) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,950 shares of the CRM provider’s stock, valued at approximately $448,000.
Other large investors also recently made changes to their positions in the company. Chemung Canal Trust Co. grew its stake in shares of salesforce.com by 1.2% during the second quarter. Chemung Canal Trust Co. now owns 44,078 shares of the CRM provider’s stock valued at $6,688,000 after buying an additional 505 shares during the last quarter. Hills Bank & Trust Co. grew its stake in shares of salesforce.com by 5.3% during the second quarter. Hills Bank & Trust Co. now owns 9,480 shares of the CRM provider’s stock valued at $1,438,000 after buying an additional 473 shares during the last quarter. Retirement Systems of Alabama grew its stake in shares of salesforce.com by 1.0% during the second quarter. Retirement Systems of Alabama now owns 612,105 shares of the CRM provider’s stock valued at $92,875,000 after buying an additional 5,888 shares during the last quarter. Chicago Capital LLC grew its stake in shares of salesforce.com by 3.1% during the second quarter. Chicago Capital LLC now owns 209,748 shares of the CRM provider’s stock valued at $31,825,000 after buying an additional 6,237 shares during the last quarter. Finally, Columbus Circle Investors bought a new position in shares of salesforce.com during the first quarter valued at about $26,017,000. 82.05% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have recently weighed in on the stock. UBS Group set a $190.00 target price on shares of salesforce.com and gave the stock a “buy” rating in a report on Tuesday, June 11th. ValuEngine lowered shares of salesforce.com from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Credit Suisse Group reiterated an “outperform” rating on shares of salesforce.com in a report on Thursday, June 6th. Monness Crespi & Hardt reiterated a “buy” rating and set a $200.00 target price (up from $195.00) on shares of salesforce.com in a report on Wednesday, June 5th. Finally, Wedbush reiterated an “outperform” rating and set a $192.00 target price on shares of salesforce.com in a report on Friday, May 31st. Four research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $180.00.
Shares of CRM stock traded up $1.76 during trading hours on Friday, hitting $143.89. 5,311,500 shares of the company’s stock traded hands, compared to its average volume of 7,607,533. The stock’s fifty day simple moving average is $152.41 and its two-hundred day simple moving average is $156.53. salesforce.com, inc. has a 12-month low of $113.60 and a 12-month high of $167.56. The stock has a market cap of $108.42 billion, a price-to-earnings ratio of 99.23, a PEG ratio of 5.13 and a beta of 1.27. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.34.
salesforce.com (NYSE:CRM) last released its earnings results on Tuesday, June 4th. The CRM provider reported $0.93 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.68 billion. During the same period last year, the business earned $0.74 earnings per share. The business’s revenue was up 24.3% on a year-over-year basis. On average, equities analysts forecast that salesforce.com, inc. will post 1.25 earnings per share for the current fiscal year.
In related news, General Counsel Amy E. Weaver sold 501 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $153.54, for a total transaction of $76,923.54. Following the completion of the sale, the general counsel now owns 26,396 shares of the company’s stock, valued at $4,052,841.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Marc Benioff sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $158.94, for a total transaction of $794,700.00. The disclosure for this sale can be found here. Insiders have sold 320,498 shares of company stock valued at $49,033,859 over the last quarter. Company insiders own 5.50% of the company’s stock.
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.
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