E Fund Management Hong Kong Co. Ltd. acquired a new position in salesforce.com, inc. (NYSE:CRM) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 39,826 shares of the CRM provider’s stock, valued at approximately $5,734,000. salesforce.com accounts for approximately 3.3% of E Fund Management Hong Kong Co. Ltd.’s portfolio, making the stock its 8th largest holding.
Several other institutional investors and hedge funds have also recently modified their holdings of CRM. Candriam Luxembourg S.C.A. grew its holdings in salesforce.com by 7.3% during the fourth quarter. Candriam Luxembourg S.C.A. now owns 370,766 shares of the CRM provider’s stock valued at $60,302,000 after purchasing an additional 25,353 shares during the period. CIBC Private Wealth Group LLC grew its holdings in salesforce.com by 34.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 83,059 shares of the CRM provider’s stock valued at $13,508,000 after purchasing an additional 21,468 shares during the period. Putnam FL Investment Management Co. grew its holdings in salesforce.com by 6.7% during the fourth quarter. Putnam FL Investment Management Co. now owns 16,941 shares of the CRM provider’s stock valued at $2,755,000 after purchasing an additional 1,059 shares during the period. Savant Capital LLC grew its holdings in salesforce.com by 2.6% during the fourth quarter. Savant Capital LLC now owns 3,246 shares of the CRM provider’s stock valued at $528,000 after purchasing an additional 82 shares during the period. Finally, Shepherd Financial Partners LLC grew its holdings in salesforce.com by 3.1% during the fourth quarter. Shepherd Financial Partners LLC now owns 7,848 shares of the CRM provider’s stock valued at $1,277,000 after purchasing an additional 233 shares during the period. 81.54% of the stock is owned by institutional investors.
NYSE:CRM traded down $2.97 during midday trading on Tuesday, hitting $173.39. The stock had a trading volume of 4,157,102 shares, compared to its average volume of 6,909,155. salesforce.com, inc. has a one year low of $115.29 and a one year high of $195.72. The company has a market capitalization of $158.53 billion, a price-to-earnings ratio of -957.83, a PEG ratio of 8.01 and a beta of 1.08. The stock has a 50-day moving average of $166.18 and a 200 day moving average of $166.50. The company has a quick ratio of 1.08, a current ratio of 1.15 and a debt-to-equity ratio of 0.15.
salesforce.com (NYSE:CRM) last announced its quarterly earnings data on Thursday, May 28th. The CRM provider reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.01. salesforce.com had a positive return on equity of 2.45% and a negative net margin of 0.92%. The company had revenue of $4.87 billion for the quarter, compared to analysts’ expectations of $4.85 billion. During the same quarter in the prior year, the firm earned $0.93 earnings per share. salesforce.com’s revenue was up 30.2% compared to the same quarter last year. On average, sell-side analysts anticipate that salesforce.com, inc. will post 1.21 earnings per share for the current fiscal year.
Several equities analysts have recently commented on the company. Robert W. Baird boosted their price objective on salesforce.com from $200.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. SunTrust Banks reiterated a “buy” rating and issued a $210.00 target price on shares of salesforce.com in a research report on Friday, May 22nd. Morgan Stanley decreased their target price on salesforce.com from $225.00 to $195.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 25th. Jefferies Financial Group reiterated a “buy” rating and issued a $205.00 target price on shares of salesforce.com in a research report on Tuesday, May 19th. Finally, Zacks Investment Research upgraded salesforce.com from a “hold” rating to a “buy” rating and set a $185.00 target price on the stock in a research report on Tuesday. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $198.15.
In other salesforce.com news, CAO Joe Allanson sold 521 shares of the company’s stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $139.86, for a total transaction of $72,867.06. Following the completion of the sale, the chief accounting officer now owns 31,559 shares in the company, valued at $4,413,841.74. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Marc Benioff sold 10,000 shares of the company’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $172.47, for a total value of $1,724,700.00. The disclosure for this sale can be found here. In the last three months, insiders sold 398,873 shares of company stock worth $63,247,303. 4.40% of the stock is owned by insiders.
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.
Recommended Story: Conference Calls
Want to see what other hedge funds are holding CRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for salesforce.com, inc. (NYSE:CRM).
Receive News & Ratings for salesforce.com Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for salesforce.com and related companies with MarketBeat.com's FREE daily email newsletter.