Cornell Pochily Investment Advisors Inc. raised its stake in salesforce.com, inc. (NYSE:CRM) by 23.9% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 3,963 shares of the CRM provider’s stock after buying an additional 765 shares during the quarter. Cornell Pochily Investment Advisors Inc.’s holdings in salesforce.com were worth $601,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of CRM. Heritage Investors Management Corp raised its stake in shares of salesforce.com by 10.0% during the first quarter. Heritage Investors Management Corp now owns 34,427 shares of the CRM provider’s stock valued at $5,452,000 after purchasing an additional 3,143 shares in the last quarter. Hills Bank & Trust Co. raised its stake in shares of salesforce.com by 5.3% during the second quarter. Hills Bank & Trust Co. now owns 9,480 shares of the CRM provider’s stock valued at $1,438,000 after purchasing an additional 473 shares in the last quarter. Chicago Capital LLC raised its stake in shares of salesforce.com by 3.1% during the second quarter. Chicago Capital LLC now owns 209,748 shares of the CRM provider’s stock valued at $31,825,000 after purchasing an additional 6,237 shares in the last quarter. Columbus Circle Investors bought a new stake in shares of salesforce.com during the first quarter valued at about $26,017,000. Finally, MML Investors Services LLC raised its stake in shares of salesforce.com by 46.5% during the first quarter. MML Investors Services LLC now owns 44,065 shares of the CRM provider’s stock valued at $6,979,000 after purchasing an additional 13,991 shares in the last quarter. Institutional investors own 82.05% of the company’s stock.
Shares of NYSE CRM opened at $142.13 on Friday. salesforce.com, inc. has a one year low of $113.60 and a one year high of $167.56. The firm has a market capitalization of $111.65 billion, a PE ratio of 98.02, a PEG ratio of 5.29 and a beta of 1.27. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.34. The business has a 50-day moving average price of $152.52 and a two-hundred day moving average price of $156.59.
salesforce.com (NYSE:CRM) last announced its quarterly earnings results on Tuesday, June 4th. The CRM provider reported $0.93 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.32. The business had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.68 billion. salesforce.com had a return on equity of 8.18% and a net margin of 8.26%. The firm’s revenue was up 24.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.74 EPS. Research analysts anticipate that salesforce.com, inc. will post 1.25 EPS for the current year.
A number of brokerages recently weighed in on CRM. Compass Point began coverage on shares of salesforce.com in a research note on Tuesday. They set a “buy” rating and a $190.00 price objective on the stock. SunTrust Banks lifted their price objective on shares of salesforce.com to $189.00 and gave the company a “buy” rating in a research note on Tuesday, June 11th. ValuEngine lowered salesforce.com from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Bank of America reaffirmed a “buy” rating and set a $200.00 target price on shares of salesforce.com in a report on Wednesday, June 5th. Finally, Sanford C. Bernstein reaffirmed a “neutral” rating and set a $169.00 target price on shares of salesforce.com in a report on Tuesday, June 11th. Four research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $180.00.
In related news, General Counsel Amy E. Weaver sold 501 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $153.54, for a total value of $76,923.54. Following the completion of the sale, the general counsel now directly owns 26,396 shares in the company, valued at approximately $4,052,841.84. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Amy E. Weaver sold 6,409 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $149.38, for a total value of $957,376.42. Following the completion of the sale, the general counsel now owns 33,131 shares of the company’s stock, valued at $4,949,108.78. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 320,498 shares of company stock valued at $49,033,859. 5.50% of the stock is owned by corporate insiders.
salesforce.com Company 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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