Nippon Life Global Investors Americas Inc. lifted its stake in shares of salesforce.com, inc. (NYSE:CRM) by 65.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 63,870 shares of the CRM provider’s stock after purchasing an additional 25,380 shares during the quarter. Nippon Life Global Investors Americas Inc.’s holdings in salesforce.com were worth $9,481,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Buckingham Capital Management Inc. boosted its holdings in salesforce.com by 6.2% during the 1st quarter. Buckingham Capital Management Inc. now owns 34,547 shares of the CRM provider’s stock valued at $5,471,000 after acquiring an additional 2,028 shares during the period. Neville Rodie & Shaw Inc. raised its position in shares of salesforce.com by 1.3% in the 2nd quarter. Neville Rodie & Shaw Inc. now owns 43,265 shares of the CRM provider’s stock worth $6,565,000 after acquiring an additional 548 shares in the last quarter. Thomasville National Bank raised its position in shares of salesforce.com by 1.4% in the 2nd quarter. Thomasville National Bank now owns 63,322 shares of the CRM provider’s stock worth $9,608,000 after acquiring an additional 884 shares in the last quarter. Private Trust Co. NA raised its position in shares of salesforce.com by 5.3% in the 2nd quarter. Private Trust Co. NA now owns 7,081 shares of the CRM provider’s stock worth $1,074,000 after acquiring an additional 354 shares in the last quarter. Finally, Private Asset Management Inc. raised its position in shares of salesforce.com by 5.3% in the 2nd quarter. Private Asset Management Inc. now owns 18,592 shares of the CRM provider’s stock worth $2,821,000 after acquiring an additional 930 shares in the last quarter. 73.72% of the stock is currently owned by institutional investors.
In other salesforce.com news, Chairman Marc Benioff sold 10,000 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $158.90, for a total transaction of $1,589,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Sanford Robertson sold 25,000 shares of the firm’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $155.67, for a total value of $3,891,750.00. Following the sale, the director now directly owns 124,017 shares in the company, valued at $19,305,726.39. The disclosure for this sale can be found here. Over the last three months, insiders have sold 272,019 shares of company stock worth $40,982,868. Insiders own 5.50% of the company’s stock.
salesforce.com stock traded up $0.46 during trading on Monday, reaching $144.55. The company had a trading volume of 3,375,942 shares, compared to its average volume of 5,814,701. salesforce.com, inc. has a 52 week low of $113.60 and a 52 week high of $167.56. The firm’s 50-day simple moving average is $150.16 and its 200 day simple moving average is $153.55. The firm has a market capitalization of $128.19 billion, a price-to-earnings ratio of 99.69, a price-to-earnings-growth ratio of 6.26 and a beta of 1.23. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.31.
salesforce.com (NYSE:CRM) last announced its earnings results on Thursday, August 22nd. The CRM provider reported $0.66 EPS for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.57. The company had revenue of $4 billion for the quarter, compared to analysts’ expectations of $3.96 billion. salesforce.com had a return on equity of 7.26% and a net margin of 6.45%. salesforce.com’s revenue for the quarter was up 21.8% compared to the same quarter last year. During the same period last year, the firm earned $0.71 EPS. On average, analysts predict that salesforce.com, inc. will post 1.25 earnings per share for the current year.
A number of research firms recently weighed in on CRM. OTR Global raised salesforce.com to a “positive” rating in a research report on Thursday, August 15th. TheStreet lowered salesforce.com from a “b” rating to a “c” rating in a research report on Thursday, August 22nd. Canaccord Genuity raised their price target on salesforce.com from $175.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. They noted that the move was a valuation call. Barclays raised their price target on salesforce.com from $182.00 to $184.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Finally, ValuEngine downgraded salesforce.com from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Three investment analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $184.31.
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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