Gradient Investments LLC Has $1.22 Million Holdings in salesforce.com, inc. (CRM)

Gradient Investments LLC boosted its stake in salesforce.com, inc. (NYSE:CRM) by 6.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 7,668 shares of the CRM provider’s stock after purchasing an additional 437 shares during the period. Gradient Investments LLC’s holdings in salesforce.com were worth $1,219,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of salesforce.com by 39.7% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 5,274 shares of the CRM provider’s stock valued at $613,000 after purchasing an additional 1,500 shares during the period. Koch Industries Inc. acquired a new position in shares of salesforce.com during the first quarter valued at $375,000. Nuveen Asset Management LLC increased its holdings in shares of salesforce.com by 37.8% during the first quarter. Nuveen Asset Management LLC now owns 23,337 shares of the CRM provider’s stock valued at $2,714,000 after purchasing an additional 6,401 shares during the period. United Capital Financial Advisers LLC increased its holdings in shares of salesforce.com by 17.4% during the first quarter. United Capital Financial Advisers LLC now owns 20,912 shares of the CRM provider’s stock valued at $2,432,000 after purchasing an additional 3,104 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. increased its holdings in shares of salesforce.com by 34.7% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 41,730 shares of the CRM provider’s stock valued at $4,849,000 after purchasing an additional 10,747 shares during the period. 82.75% of the stock is currently owned by hedge funds and other institutional investors.

Shares of CRM stock opened at $146.74 on Friday. salesforce.com, inc. has a fifty-two week low of $95.93 and a fifty-two week high of $161.19. The stock has a market cap of $120.34 billion, a P/E ratio of 326.09, a PEG ratio of 5.23 and a beta of 1.27. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.23.

salesforce.com (NYSE:CRM) last announced its earnings results on Wednesday, August 29th. The CRM provider reported $0.71 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.24. salesforce.com had a return on equity of 8.27% and a net margin of 6.45%. The business had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.23 billion. During the same quarter last year, the business posted $0.33 earnings per share. The company’s quarterly revenue was up 27.3% on a year-over-year basis. As a group, sell-side analysts predict that salesforce.com, inc. will post 1.22 EPS for the current fiscal year.

In related news, Chairman Marc Benioff sold 10,000 shares of the stock in a transaction on Friday, October 12th. The stock was sold at an average price of $142.75, for a total value of $1,427,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joe Allanson sold 104,277 shares of the stock in a transaction on Friday, September 14th. The shares were sold at an average price of $158.33, for a total value of $16,510,177.41. Following the completion of the transaction, the insider now owns 134,587 shares of the company’s stock, valued at approximately $21,309,159.71. The disclosure for this sale can be found here. In the last quarter, insiders purchased 24,000 shares of company stock valued at $3,581,220 and sold 548,868 shares valued at $83,063,855. Company insiders own 6.00% of the company’s stock.

CRM has been the topic of a number of research analyst reports. BMO Capital Markets raised their price target on salesforce.com from $147.00 to $152.00 and gave the company a “market perform” rating in a report on Thursday, June 28th. Canaccord Genuity reissued a “buy” rating on shares of salesforce.com in a report on Thursday, June 28th. JMP Securities raised their price target on salesforce.com from $140.00 to $163.00 and gave the company an “outperform” rating in a report on Tuesday, July 10th. Robert W. Baird raised their price target on salesforce.com from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, July 11th. Finally, Oppenheimer raised their price target on salesforce.com from $152.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, July 11th. Five research analysts have rated the stock with a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $164.62.

salesforce.com 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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Institutional Ownership by Quarter for salesforce.com (NYSE:CRM)

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