Marks Group Wealth Management Inc Raises Stake in salesforce.com, inc. (NYSE:CRM)

Marks Group Wealth Management Inc boosted its holdings in shares of salesforce.com, inc. (NYSE:CRM) by 2.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,551 shares of the CRM provider’s stock after acquiring an additional 499 shares during the period. Marks Group Wealth Management Inc’s holdings in salesforce.com were worth $5,019,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. BerganKDV Wealth Management LLC lifted its position in salesforce.com by 33.3% during the 2nd quarter. BerganKDV Wealth Management LLC now owns 400 shares of the CRM provider’s stock valued at $98,000 after acquiring an additional 100 shares during the period. Tlwm grew its stake in shares of salesforce.com by 40.1% in the second quarter. Tlwm now owns 4,476 shares of the CRM provider’s stock worth $1,092,000 after acquiring an additional 1,282 shares during the period. Financial Architects Inc grew its stake in shares of salesforce.com by 27.3% in the second quarter. Financial Architects Inc now owns 3,455 shares of the CRM provider’s stock worth $844,000 after acquiring an additional 741 shares during the period. Brighton Jones LLC grew its stake in shares of salesforce.com by 3.4% in the second quarter. Brighton Jones LLC now owns 22,546 shares of the CRM provider’s stock worth $5,507,000 after acquiring an additional 740 shares during the period. Finally, Inverness Counsel LLC NY grew its stake in shares of salesforce.com by 34.0% in the second quarter. Inverness Counsel LLC NY now owns 176,194 shares of the CRM provider’s stock worth $43,039,000 after acquiring an additional 44,745 shares during the period. 77.33% of the stock is owned by institutional investors.

CRM traded up $0.52 on Wednesday, hitting $254.89. The company had a trading volume of 186,589 shares, compared to its average volume of 6,409,822. The firm has a market cap of $249.54 billion, a P/E ratio of 102.20, a PEG ratio of 7.35 and a beta of 1.09. salesforce.com, inc. has a 1 year low of $201.51 and a 1 year high of $275.22. The company’s fifty day moving average price is $251.35 and its 200 day moving average price is $235.19. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.19.

salesforce.com (NYSE:CRM) last issued its quarterly earnings data on Tuesday, August 24th. The CRM provider reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.56. The firm had revenue of $6.34 billion for the quarter, compared to analyst estimates of $6.25 billion. salesforce.com had a net margin of 9.99% and a return on equity of 7.15%. salesforce.com’s revenue was up 23.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.44 EPS. On average, analysts predict that salesforce.com, inc. will post 2.09 earnings per share for the current year.

In related news, CAO Joe Allanson sold 313 shares of the company’s stock in a transaction that occurred on Wednesday, June 23rd. The stock was sold at an average price of $242.40, for a total value of $75,871.20. Following the completion of the transaction, the chief accounting officer now directly owns 31,398 shares of the company’s stock, valued at $7,610,875.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Marc Benioff sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 1st. The shares were sold at an average price of $269.36, for a total value of $5,387,200.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 776,356 shares of company stock valued at $194,260,597. 4.10% of the stock is currently owned by corporate insiders.

CRM has been the subject of a number of recent analyst reports. Morgan Stanley upped their price target on shares of salesforce.com from $285.00 to $305.00 and gave the stock an “overweight” rating in a research report on Thursday, August 26th. Credit Suisse Group set a $290.00 target price on shares of salesforce.com in a report on Wednesday, September 1st. The Goldman Sachs Group set a $350.00 price target on shares of salesforce.com in a research note on Wednesday, September 1st. Cowen upped their price target on shares of salesforce.com from $290.00 to $300.00 and gave the company an “outperform” rating in a research note on Thursday, August 26th. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $295.00 price target on shares of salesforce.com in a research note on Sunday, August 22nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating, thirty-one have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $298.33.

salesforce.com Profile

salesforce.com, inc. engages in the design and development of cloud-based enterprise software for customer relationship management. Its solutions include sales force automation, customer service and support, marketing automation, digital commerce, community management, collaboration, industry-specific solutions, and salesforce platform.

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

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