Maryland Capital Management lifted its holdings in shares of salesforce.com, inc. (NYSE:CRM) by 6.5% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 106,100 shares of the CRM provider’s stock after purchasing an additional 6,487 shares during the period. salesforce.com accounts for about 1.8% of Maryland Capital Management’s portfolio, making the stock its 14th largest position. Maryland Capital Management’s holdings in salesforce.com were worth $15,277,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the company. State Street Corp grew its holdings in shares of salesforce.com by 2.2% during the fourth quarter. State Street Corp now owns 35,429,991 shares of the CRM provider’s stock worth $5,762,334,000 after purchasing an additional 762,963 shares during the last quarter. Nuveen Asset Management LLC grew its holdings in shares of salesforce.com by 0.8% during the fourth quarter. Nuveen Asset Management LLC now owns 14,411,546 shares of the CRM provider’s stock worth $2,343,894,000 after purchasing an additional 113,370 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of salesforce.com by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 11,875,146 shares of the CRM provider’s stock worth $1,926,876,000 after purchasing an additional 339,641 shares during the last quarter. Fisher Asset Management LLC grew its holdings in shares of salesforce.com by 49.6% during the first quarter. Fisher Asset Management LLC now owns 10,873,498 shares of the CRM provider’s stock worth $1,565,566,000 after purchasing an additional 3,606,319 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of salesforce.com by 2.7% during the fourth quarter. Bank of New York Mellon Corp now owns 8,739,204 shares of the CRM provider’s stock worth $1,421,342,000 after purchasing an additional 227,958 shares during the last quarter. Institutional investors own 81.54% of the company’s stock.
salesforce.com stock traded down $4.29 during midday trading on Tuesday, reaching $172.07. The stock had a trading volume of 222,306 shares, compared to its average volume of 6,909,155. The firm’s fifty day simple moving average is $166.18 and its 200-day simple moving average is $166.50. salesforce.com, inc. has a 1-year low of $115.29 and a 1-year high of $195.72. The stock has a market capitalization of $158.53 billion, a P/E ratio of -957.83, a price-to-earnings-growth ratio of 8.01 and a beta of 1.08. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.08 and a current ratio of 1.15.
salesforce.com (NYSE:CRM) last announced its earnings results on Thursday, May 28th. The CRM provider reported $0.70 earnings per share (EPS) for the quarter, beating the Zacks’ 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 business had revenue of $4.87 billion for the quarter, compared to analyst estimates of $4.85 billion. During the same quarter last year, the firm earned $0.93 EPS. salesforce.com’s revenue for the quarter 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 brokerages have recently commented on CRM. Goldman Sachs Group set a $178.00 target price on salesforce.com and gave the stock a “buy” rating in a report on Thursday, March 26th. Robert W. Baird raised their price target on salesforce.com from $200.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. Barclays reiterated a “buy” rating and issued a $186.00 price target on shares of salesforce.com in a report on Tuesday, March 17th. Rosenblatt Securities assumed coverage on salesforce.com in a report on Monday, May 4th. They issued a “sell” rating on the stock. Finally, Canaccord Genuity raised their price target on salesforce.com from $185.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-nine have given a buy rating and two have given a strong buy rating to the company’s stock. salesforce.com presently has a consensus rating of “Buy” and a consensus price target of $198.15.
In other salesforce.com news, COO Bret Steven Taylor sold 7,059 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $182.53, for a total value of $1,288,479.27. Following the completion of the transaction, the chief operating officer now directly owns 1,062,003 shares in the company, valued at $193,847,407.59. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Marc Benioff sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The shares were 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.
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