Commonwealth Equity Services LLC Purchases 22,351 Shares of salesforce.com, inc. (NYSE:CRM)

Commonwealth Equity Services LLC boosted its position in salesforce.com, inc. (NYSE:CRM) by 10.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 233,326 shares of the CRM provider’s stock after purchasing an additional 22,351 shares during the quarter. Commonwealth Equity Services LLC’s holdings in salesforce.com were worth $49,434,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Occidental Asset Management LLC boosted its stake in salesforce.com by 2.2% in the 4th quarter. Occidental Asset Management LLC now owns 2,054 shares of the CRM provider’s stock valued at $457,000 after purchasing an additional 45 shares during the period. Convergence Investment Partners LLC raised its holdings in salesforce.com by 2.5% in the 4th quarter. Convergence Investment Partners LLC now owns 1,843 shares of the CRM provider’s stock valued at $410,000 after acquiring an additional 45 shares in the last quarter. Cobblestone Capital Advisors LLC NY raised its holdings in salesforce.com by 2.8% in the 4th quarter. Cobblestone Capital Advisors LLC NY now owns 1,632 shares of the CRM provider’s stock valued at $363,000 after acquiring an additional 45 shares in the last quarter. TCI Wealth Advisors Inc. raised its holdings in salesforce.com by 3.5% in the 4th quarter. TCI Wealth Advisors Inc. now owns 1,367 shares of the CRM provider’s stock valued at $304,000 after acquiring an additional 46 shares in the last quarter. Finally, Hengehold Capital Management LLC raised its holdings in salesforce.com by 2.1% in the 4th quarter. Hengehold Capital Management LLC now owns 2,235 shares of the CRM provider’s stock valued at $497,000 after acquiring an additional 46 shares in the last quarter. Institutional investors and hedge funds own 80.20% of the company’s stock.

In other salesforce.com news, insider Srinivas Tallapragada sold 5,000 shares of the firm’s stock in a transaction dated Monday, March 8th. The stock was sold at an average price of $213.00, for a total transaction of $1,065,000.00. Following the sale, the insider now owns 51,242 shares in the company, valued at $10,914,546. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Parker Harris sold 4,300 shares of the firm’s stock in a transaction dated Tuesday, March 2nd. The shares were sold at an average price of $216.23, for a total value of $929,789.00. Following the transaction, the insider now directly owns 69,445 shares in the company, valued at $15,016,092.35. The disclosure for this sale can be found here. Insiders have sold 176,635 shares of company stock worth $40,124,503 in the last 90 days. Company insiders own 4.40% of the company’s stock.

A number of equities analysts have recently commented on CRM shares. The Goldman Sachs Group raised salesforce.com from a “buy” rating to a “conviction-buy” rating and set a $315.00 price target for the company in a report on Monday, March 8th. Mizuho reduced their price objective on salesforce.com from $290.00 to $270.00 and set a “buy” rating on the stock in a research report on Thursday. UBS Group restated a “buy” rating and set a $280.00 price objective on shares of salesforce.com in a research report on Tuesday, March 16th. Nord/LB lowered salesforce.com from a “buy” rating to a “hold” rating in a research report on Wednesday, March 24th. Finally, JPMorgan Chase & Co. set a $250.00 price objective on salesforce.com and gave the stock a “buy” rating in a research report on Friday, February 26th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, twenty-six have issued a buy rating and three have issued a strong buy rating to the company. salesforce.com presently has a consensus rating of “Buy” and a consensus price target of $268.49.

Shares of CRM stock opened at $211.86 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.22 and a current ratio of 1.22. salesforce.com, inc. has a 52-week low of $164.57 and a 52-week high of $284.50. The company has a market capitalization of $195.38 billion, a PE ratio of 55.32, a price-to-earnings-growth ratio of 5.42 and a beta of 1.17. The business’s fifty day moving average is $223.29 and its 200 day moving average is $228.62.

salesforce.com (NYSE:CRM) last issued its quarterly earnings data on Thursday, February 25th. The CRM provider reported $1.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.74. salesforce.com had a return on equity of 6.63% and a net margin of 17.53%. The company had revenue of $5.82 billion for the quarter, compared to the consensus estimate of $5.68 billion. On average, sell-side analysts forecast that salesforce.com, inc. will post 2.81 EPS for the current fiscal year.

salesforce.com Profile

salesforce.com, inc. develops enterprise cloud computing solutions with a focus on customer relationship management worldwide. 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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Institutional Ownership by Quarter for salesforce.com (NYSE:CRM)

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