Pacer Advisors Inc. boosted its holdings in shares of salesforce.com, inc. (NYSE:CRM) by 30.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 94,141 shares of the CRM provider’s stock after acquiring an additional 21,699 shares during the quarter. Pacer Advisors Inc.’s holdings in salesforce.com were worth $13,974,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Massey Quick Simon & CO. LLC purchased a new position in salesforce.com in the second quarter valued at $26,000. Personal Wealth Partners purchased a new position in salesforce.com in the second quarter valued at $28,000. Enterprise Trust & Investment Co boosted its holdings in salesforce.com by 234.4% in the third quarter. Enterprise Trust & Investment Co now owns 204 shares of the CRM provider’s stock valued at $30,000 after purchasing an additional 143 shares during the period. Sumitomo Mitsui Financial Group Inc. purchased a new position in salesforce.com in the second quarter valued at $46,000. Finally, Citizens Financial Group Inc RI boosted its holdings in salesforce.com by 81.9% in the second quarter. Citizens Financial Group Inc RI now owns 311 shares of the CRM provider’s stock valued at $47,000 after purchasing an additional 140 shares during the period. 73.65% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have issued reports on CRM. Compass Point set a $193.00 price target on salesforce.com and gave the stock a “buy” rating in a report on Friday, August 23rd. KeyCorp set a $180.00 price target on salesforce.com and gave the stock a “buy” rating in a report on Thursday, August 22nd. OTR Global raised salesforce.com to a “positive” rating in a report on Thursday, August 15th. SunTrust Banks set a $189.00 price target on salesforce.com and gave the stock a “buy” rating in a report on Wednesday, August 21st. Finally, UBS Group set a $190.00 price target on salesforce.com and gave the stock a “buy” rating in a report on Friday, August 23rd. Three equities research analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $184.31.
In related news, CEO Marc Benioff sold 5,000 shares of the business’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $147.19, for a total value of $735,950.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Parker Harris sold 620 shares of the business’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $147.27, for a total value of $91,307.40. Following the completion of the transaction, the insider now owns 32,034 shares in the company, valued at approximately $4,717,647.18. The disclosure for this sale can be found here. Insiders have sold 282,339 shares of company stock worth $42,770,272 in the last quarter. Insiders own 5.50% of the company’s stock.
Shares of CRM traded down $0.64 during midday trading on Thursday, reaching $146.41. 2,612,839 shares of the stock were exchanged, compared to its average volume of 5,850,131. The business’s 50-day moving average price is $151.24 and its 200 day moving average price is $154.27. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.97 and a quick ratio of 0.97. salesforce.com, inc. has a twelve month low of $113.60 and a twelve month high of $167.56. The company has a market capitalization of $130.50 billion, a price-to-earnings ratio of 100.97, a PEG ratio of 5.68 and a beta of 1.23.
salesforce.com (NYSE:CRM) last posted 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. salesforce.com had a return on equity of 7.26% and a net margin of 6.45%. The business had revenue of $4 billion for the quarter, compared to analysts’ expectations of $3.96 billion. During the same quarter in the previous year, the firm earned $0.71 earnings per share. The business’s revenue was up 21.8% compared to the same quarter last year. As a group, equities research analysts expect that salesforce.com, inc. will post 1.23 earnings per share for the current fiscal year.
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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