Scotia Capital Inc. boosted its holdings in shares of salesforce.com, inc. (NYSE:CRM) by 9.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 66,650 shares of the CRM provider’s stock after purchasing an additional 5,820 shares during the quarter. Scotia Capital Inc.’s holdings in salesforce.com were worth $10,114,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the business. FMR LLC grew its position in shares of salesforce.com by 0.8% in the 1st quarter. FMR LLC now owns 89,716,274 shares of the CRM provider’s stock worth $14,208,366,000 after acquiring an additional 698,321 shares in the last quarter. BlackRock Inc. boosted its position in salesforce.com by 4.7% during the 1st quarter. BlackRock Inc. now owns 53,665,349 shares of the CRM provider’s stock valued at $8,498,982,000 after purchasing an additional 2,395,193 shares during the period. Jennison Associates LLC boosted its position in salesforce.com by 8.4% during the 2nd quarter. Jennison Associates LLC now owns 21,575,462 shares of the CRM provider’s stock valued at $3,273,645,000 after purchasing an additional 1,673,392 shares during the period. Janus Henderson Group PLC boosted its position in salesforce.com by 12.9% during the 2nd quarter. Janus Henderson Group PLC now owns 13,247,900 shares of the CRM provider’s stock valued at $2,009,810,000 after purchasing an additional 1,516,132 shares during the period. Finally, Northern Trust Corp boosted its position in salesforce.com by 1.8% during the 2nd quarter. Northern Trust Corp now owns 10,879,280 shares of the CRM provider’s stock valued at $1,650,713,000 after purchasing an additional 196,021 shares during the period. Institutional investors own 73.81% of the company’s stock.
NYSE CRM traded up $0.66 on Thursday, reaching $154.75. The stock had a trading volume of 4,656,224 shares, compared to its average volume of 6,075,896. The business has a 50 day moving average price of $150.03 and a 200 day moving average price of $155.64. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.31. salesforce.com, inc. has a 1 year low of $113.60 and a 1 year high of $167.56. The company has a market capitalization of $131.15 billion, a price-to-earnings ratio of 106.72, a P/E/G ratio of 5.51 and a beta of 1.24.
salesforce.com (NYSE:CRM) last issued its earnings results on Thursday, August 22nd. The CRM provider reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.57. salesforce.com had a return on equity of 7.26% and a net margin of 6.45%. The firm had revenue of $4 billion for the quarter, compared to the consensus estimate of $3.96 billion. During the same quarter in the previous year, the company posted $0.71 earnings per share. The business’s quarterly revenue was up 21.8% compared to the same quarter last year. On average, analysts anticipate that salesforce.com, inc. will post 1.25 earnings per share for the current fiscal year.
In other salesforce.com news, Chairman Marc Benioff sold 10,000 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $140.98, for a total value of $1,409,800.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Craig Conway sold 200 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $158.85, for a total value of $31,770.00. Following the completion of the transaction, the director now owns 9,336 shares in the company, valued at approximately $1,483,023.60. The disclosure for this sale can be found here. Insiders sold 310,614 shares of company stock worth $47,265,487 in the last 90 days. Corporate insiders own 5.50% of the company’s stock.
A number of research analysts have issued reports on the company. TheStreet lowered salesforce.com from a “b” rating to a “c” rating in a research report on Thursday, August 22nd. OTR Global upgraded salesforce.com to a “positive” rating in a research report on Thursday, August 15th. Sanford C. Bernstein reiterated a “neutral” rating and set a $169.00 price target on shares of salesforce.com in a research report on Tuesday, June 11th. Northland Securities set a $185.00 price target on salesforce.com and gave the stock a “buy” rating in a research report on Friday, August 23rd. Finally, Compass Point set a $193.00 price target on salesforce.com and gave the stock a “buy” rating in a research report on Friday, August 23rd. Two analysts have rated the stock with a hold rating, forty have given a buy rating and one has assigned a strong buy rating to the company. salesforce.com presently has a consensus rating of “Buy” and a consensus price target of $183.82.
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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