Meyer Handelman Co. boosted its holdings in salesforce.com, inc. (NYSE:CRM) by 143.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,502 shares of the CRM provider’s stock after purchasing an additional 9,130 shares during the quarter. Meyer Handelman Co.’s holdings in salesforce.com were worth $3,285,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Northwest Investment Counselors LLC acquired a new position in shares of salesforce.com during the first quarter valued at $29,000. Pacific Center for Financial Services boosted its holdings in shares of salesforce.com by 1,340.0% during the fourth quarter. Pacific Center for Financial Services now owns 144 shares of the CRM provider’s stock valued at $32,000 after acquiring an additional 134 shares during the period. First Personal Financial Services acquired a new position in shares of salesforce.com during the fourth quarter valued at $32,000. Wealthcare Capital Management LLC acquired a new position in shares of salesforce.com during the first quarter valued at $31,000. Finally, Larson Financial Group LLC raised its stake in shares of salesforce.com by 93.4% during the fourth quarter. Larson Financial Group LLC now owns 147 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 71 shares in the last quarter. 80.20% of the stock is owned by institutional investors.
Several equities research analysts have commented on the stock. Wolfe Research assumed coverage on shares of salesforce.com in a research report on Wednesday, April 28th. They issued an “outperform” rating and a $270.00 price target on the stock. UBS Group reiterated a “buy” rating and issued a $280.00 price target on shares of salesforce.com in a research report on Tuesday, March 16th. Nord/LB cut shares of salesforce.com from a “buy” rating to a “hold” rating in a research report on Wednesday, March 24th. Macquarie lifted their price target on salesforce.com from $252.00 to $273.00 and gave the stock an “outperform” rating in a research note on Friday, February 26th. Finally, JPMorgan Chase & Co. set a $250.00 price target on salesforce.com and gave the stock a “buy” rating in a research note on Friday, February 26th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, twenty-six have given a buy rating and three have given a strong buy rating to the stock. salesforce.com has an average rating of “Buy” and a consensus price target of $269.06.
salesforce.com (NYSE:CRM) last posted its quarterly earnings results on Thursday, February 25th. The CRM provider reported $1.04 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.74. The firm had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.68 billion. salesforce.com had a return on equity of 6.63% and a net margin of 17.53%. On average, equities research analysts anticipate that salesforce.com, inc. will post 2.81 EPS for the current fiscal year.
In related news, CFO Amy E. Weaver sold 5,000 shares of salesforce.com stock in a transaction that occurred on Monday, March 1st. The stock was sold at an average price of $220.00, for a total transaction of $1,100,000.00. Following the completion of the sale, the chief financial officer now directly owns 26,486 shares of the company’s stock, valued at approximately $5,826,920. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Parker Harris sold 4,300 shares of salesforce.com stock in a transaction that occurred on Tuesday, March 30th. The stock was sold at an average price of $209.53, for a total value of $900,979.00. The disclosure for this sale can be found here. Insiders have sold a total of 172,335 shares of company stock valued at $39,205,206 over the last quarter. 4.40% of the stock is currently owned by corporate insiders.
salesforce.com, inc. develops enterprise cloud computing solutions with a focus on customer relationship management worldwide. 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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