Busey Trust CO bought a new position in shares of salesforce.com, inc. (NYSE:CRM) during the third quarter, Holdings Channel reports. The fund bought 1,302 shares of the CRM provider’s stock, valued at approximately $207,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. TLP Group LLC grew its holdings in shares of salesforce.com by 353.9% during the first quarter. TLP Group LLC now owns 1,103 shares of the CRM provider’s stock worth $128,000 after buying an additional 860 shares during the last quarter. Private Capital Group LLC grew its holdings in shares of salesforce.com by 91.9% during the first quarter. Private Capital Group LLC now owns 1,134 shares of the CRM provider’s stock worth $132,000 after buying an additional 543 shares during the last quarter. Resources Investment Advisors Inc. grew its holdings in shares of salesforce.com by 328.2% during the second quarter. Resources Investment Advisors Inc. now owns 1,259 shares of the CRM provider’s stock worth $172,000 after buying an additional 965 shares during the last quarter. CWM LLC grew its holdings in shares of salesforce.com by 95.8% during the second quarter. CWM LLC now owns 1,318 shares of the CRM provider’s stock worth $180,000 after buying an additional 645 shares during the last quarter. Finally, United Capital Management of KS Inc. purchased a new position in shares of salesforce.com during the third quarter worth about $193,000. Institutional investors and hedge funds own 82.75% of the company’s stock.
CRM has been the topic of a number of research reports. Royal Bank of Canada raised their price target on salesforce.com to $182.00 in a report on Thursday, September 27th. They noted that the move was a valuation call. Credit Suisse Group set a $170.00 price target on salesforce.com and gave the stock a “buy” rating in a report on Wednesday, August 15th. UBS Group raised their price target on salesforce.com from $153.00 to $168.00 and gave the stock a “buy” rating in a report on Wednesday, August 15th. Stifel Nicolaus raised their price target on salesforce.com from $160.00 to $175.00 and gave the stock a “buy” rating in a report on Tuesday, July 24th. Finally, Societe Generale set a $170.00 price target on salesforce.com and gave the stock a “buy” rating in a report on Tuesday, August 14th. Five analysts have rated the stock with a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company. salesforce.com presently has a consensus rating of “Buy” and a consensus target price of $164.62.
Shares of CRM opened at $146.74 on Friday. salesforce.com, inc. has a twelve month low of $95.93 and a twelve month high of $161.19. The company has a market capitalization of $120.34 billion, a price-to-earnings ratio of 326.09, a price-to-earnings-growth ratio of 5.23 and a beta of 1.27. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.80 and a current ratio of 0.80.
salesforce.com (NYSE:CRM) last announced its quarterly earnings data on Wednesday, August 29th. The CRM provider reported $0.71 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.24. The company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.23 billion. salesforce.com had a return on equity of 8.27% and a net margin of 6.45%. The firm’s revenue for the quarter was up 27.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.33 EPS. Analysts expect that salesforce.com, inc. will post 1.22 EPS for the current year.
In other news, General Counsel Amy E. Weaver sold 494 shares of the business’s stock in a transaction that occurred on Thursday, August 23rd. The stock was sold at an average price of $147.23, for a total transaction of $72,731.62. Following the sale, the general counsel now owns 20,764 shares of the company’s stock, valued at approximately $3,057,083.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Marc Benioff sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, July 16th. The stock was sold at an average price of $147.34, for a total value of $1,473,400.00. The disclosure for this sale can be found here. In the last three months, insiders have bought 24,000 shares of company stock worth $3,581,220 and have sold 548,868 shares worth $83,063,855. 6.00% of the stock is owned by insiders.
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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