Institute for Wealth Management LLC. Acquires 3,121 Shares of salesforce.com, inc. (NYSE:CRM)

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salesforce.com logoInstitute for Wealth Management LLC. lifted its holdings in salesforce.com, inc. (NYSE:CRM) by 55.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 8,709 shares of the CRM provider's stock after buying an additional 3,121 shares during the period. Institute for Wealth Management LLC.'s holdings in salesforce.com were worth $1,293,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of CRM. Vanguard Group Inc. grew its holdings in salesforce.com by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 58,771,856 shares of the CRM provider's stock valued at $8,917,454,000 after purchasing an additional 1,491,307 shares during the last quarter. BlackRock Inc. increased its stake in salesforce.com by 4.7% in the 2nd quarter. BlackRock Inc. now owns 56,165,345 shares of the CRM provider's stock worth $8,521,967,000 after purchasing an additional 2,499,996 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in salesforce.com by 13.5% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 33,910,865 shares of the CRM provider's stock worth $5,145,296,000 after purchasing an additional 4,046,077 shares in the last quarter. Jennison Associates LLC increased its stake in salesforce.com by 8.4% in the 2nd quarter. Jennison Associates LLC now owns 21,575,462 shares of the CRM provider's stock worth $3,273,645,000 after purchasing an additional 1,673,392 shares in the last quarter. Finally, Janus Henderson Group PLC increased its stake in salesforce.com by 12.9% in the 2nd quarter. Janus Henderson Group PLC now owns 13,247,900 shares of the CRM provider's stock worth $2,009,810,000 after purchasing an additional 1,516,132 shares in the last quarter. Hedge funds and other institutional investors own 73.72% of the company's stock.

A number of brokerages recently weighed in on CRM. Canaccord Genuity lifted their price target on salesforce.com from $175.00 to $185.00 and gave the stock a "buy" rating in a research note on Friday, August 23rd. They noted that the move was a valuation call. UBS Group set a $190.00 price target on salesforce.com and gave the company a "buy" rating in a report on Friday, August 23rd. Stephens set a $184.00 price target on salesforce.com and gave the company a "buy" rating in a report on Friday, August 23rd. Credit Suisse Group set a $175.00 price target on salesforce.com and gave the company a "buy" rating in a report on Wednesday, August 28th. Finally, Northland Securities set a $185.00 price target on salesforce.com and gave the company a "buy" rating in a report on Friday, August 23rd. Three investment analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and one has issued a strong buy rating to the stock. salesforce.com currently has an average rating of "Buy" and an average price target of $184.31.

NYSE CRM traded up $4.30 during trading on Monday, hitting $154.79. The company's stock had a trading volume of 7,175,725 shares, compared to its average volume of 5,810,347. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.31. The firm has a 50 day moving average price of $149.49 and a 200 day moving average price of $153.28. The firm has a market cap of $129.90 billion, a P/E ratio of 106.75, a price-to-earnings-growth ratio of 6.34 and a beta of 1.23. salesforce.com, inc. has a 52 week low of $113.60 and a 52 week high of $167.56.

salesforce.com (NYSE:CRM) last issued its quarterly earnings results on Thursday, August 22nd. The CRM provider reported $0.66 EPS for the quarter, topping the Thomson Reuters' consensus estimate of $0.09 by $0.57. The company had revenue of $4 billion for the quarter, compared to the consensus estimate of $3.96 billion. salesforce.com had a return on equity of 7.26% and a net margin of 6.45%. The company's revenue for the quarter was up 21.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.71 EPS. On average, equities analysts expect that salesforce.com, inc. will post 1.25 earnings per share for the current year.

In other news, insider Parker Harris sold 620 shares of the business's stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $157.06, for a total transaction of $97,377.20. Following the sale, the insider now directly owns 30,092 shares in the company, valued at $4,726,249.52. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Marc Benioff sold 10,000 shares of the business's stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $140.98, for a total value of $1,409,800.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 266,879 shares of company stock worth $39,943,053. Company insiders own 5.50% of the company's stock.

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.

Further Reading: Lock-Up Period Expiration

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


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