Watch Point Trust Co lifted its position in salesforce.com, inc. (NYSE:CRM) by 19.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 32,549 shares of the CRM provider’s stock after buying an additional 5,300 shares during the period. salesforce.com makes up 2.8% of Watch Point Trust Co’s holdings, making the stock its 6th largest position. Watch Point Trust Co’s holdings in salesforce.com were worth $4,939,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Chemung Canal Trust Co. raised its stake in shares of salesforce.com by 1.2% in the 2nd quarter. Chemung Canal Trust Co. now owns 44,078 shares of the CRM provider’s stock worth $6,688,000 after buying an additional 505 shares in the last quarter. Hills Bank & Trust Co. raised its stake in shares of salesforce.com by 5.3% in the 2nd quarter. Hills Bank & Trust Co. now owns 9,480 shares of the CRM provider’s stock worth $1,438,000 after buying an additional 473 shares in the last quarter. Chicago Capital LLC raised its stake in shares of salesforce.com by 3.1% in the 2nd quarter. Chicago Capital LLC now owns 209,748 shares of the CRM provider’s stock worth $31,825,000 after buying an additional 6,237 shares in the last quarter. Columbus Circle Investors bought a new stake in shares of salesforce.com in the 1st quarter worth $26,017,000. Finally, MML Investors Services LLC raised its stake in shares of salesforce.com by 46.5% in the 1st quarter. MML Investors Services LLC now owns 44,065 shares of the CRM provider’s stock worth $6,979,000 after buying an additional 13,991 shares in the last quarter. 82.05% of the stock is currently owned by institutional investors.
Shares of CRM stock traded up $3.11 on Thursday, reaching $142.83. 216,315 shares of the company’s stock traded hands, compared to its average volume of 7,468,685. salesforce.com, inc. has a 12-month low of $113.60 and a 12-month high of $167.56. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $109.20 billion, a P/E ratio of 98.50, a P/E/G ratio of 5.17 and a beta of 1.27. The company has a 50 day moving average of $152.66.
salesforce.com (NYSE:CRM) last issued its earnings results on Tuesday, June 4th. The CRM provider reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.32. salesforce.com had a return on equity of 8.18% and a net margin of 8.26%. The firm had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.68 billion. During the same quarter in the previous year, the company posted $0.74 earnings per share. The business’s quarterly revenue was up 24.3% compared to the same quarter last year. On average, equities research analysts expect that salesforce.com, inc. will post 1.25 EPS for the current year.
In other salesforce.com news, Director Craig Conway sold 200 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $158.85, for a total value of $31,770.00. Following the transaction, the director now owns 9,336 shares in the company, valued at $1,483,023.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Marc Benioff sold 10,000 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $142.17, for a total value of $1,421,700.00. The disclosure for this sale can be found here. Insiders sold 309,671 shares of company stock worth $47,578,569 in the last 90 days. Corporate insiders own 5.50% of the company’s stock.
A number of analysts have recently commented on CRM shares. OTR Global raised salesforce.com to a “positive” rating in a research note on Thursday. Nomura restated a “buy” rating and issued a $180.00 target price on shares of salesforce.com in a report on Tuesday. Compass Point began coverage on salesforce.com in a report on Tuesday. They issued a “buy” rating and a $190.00 target price on the stock. Wedbush restated an “outperform” rating and issued a $192.00 target price on shares of salesforce.com in a report on Friday, May 31st. Finally, Evercore ISI set a $190.00 target price on salesforce.com and gave the stock a “buy” rating in a report on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and one has given a strong buy rating to the company’s stock. salesforce.com presently has a consensus rating of “Buy” and a consensus price target of $180.00.
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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