Eaton Vance Management Reduces Holdings in salesforce.com, inc. (NYSE:CRM)

Eaton Vance Management trimmed its position in shares of salesforce.com, inc. (NYSE:CRM) by 13.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 629,101 shares of the CRM provider’s stock after selling 98,791 shares during the quarter. Eaton Vance Management owned 0.07% of salesforce.com worth $133,287,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Amundi Asset Management US Inc. boosted its stake in salesforce.com by 30.0% during the first quarter. Amundi Asset Management US Inc. now owns 4,730,369 shares of the CRM provider’s stock worth $1,002,223,000 after buying an additional 1,091,809 shares during the period. BSW Wealth Partners boosted its stake in shares of salesforce.com by 16.9% during the first quarter. BSW Wealth Partners now owns 3,156 shares of the CRM provider’s stock valued at $669,000 after purchasing an additional 457 shares during the period. Cornerstone Capital Inc. boosted its stake in shares of salesforce.com by 7.8% during the first quarter. Cornerstone Capital Inc. now owns 73,217 shares of the CRM provider’s stock valued at $15,512,000 after purchasing an additional 5,293 shares during the period. State of Wisconsin Investment Board boosted its stake in shares of salesforce.com by 8.9% during the first quarter. State of Wisconsin Investment Board now owns 815,345 shares of the CRM provider’s stock valued at $172,747,000 after purchasing an additional 66,312 shares during the period. Finally, Crosslink Capital Inc. boosted its stake in shares of salesforce.com by 16.1% during the first quarter. Crosslink Capital Inc. now owns 96,256 shares of the CRM provider’s stock valued at $20,394,000 after purchasing an additional 13,350 shares during the period. 75.65% of the stock is owned by institutional investors.

Shares of NYSE:CRM opened at $242.11 on Thursday. salesforce.com, inc. has a twelve month low of $184.38 and a twelve month high of $284.50. The stock has a 50 day simple moving average of $237.35. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.06. The firm has a market cap of $224.19 billion, a P/E ratio of 50.65, a PEG ratio of 8.14 and a beta of 1.09.

salesforce.com (NYSE:CRM) last issued its quarterly earnings results on Wednesday, May 26th. The CRM provider reported $1.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.33. salesforce.com had a net margin of 19.88% and a return on equity of 8.02%. The company had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $5.89 billion. During the same quarter in the prior year, the company earned $0.70 EPS. salesforce.com’s quarterly revenue was up 22.6% on a year-over-year basis. On average, research analysts anticipate that salesforce.com, inc. will post 1.6 EPS for the current year.

In other salesforce.com news, insider Parker Harris sold 2,240 shares of the company’s stock in a transaction that occurred on Friday, April 23rd. The stock was sold at an average price of $234.42, for a total value of $525,100.80. Following the sale, the insider now owns 83,371 shares in the company, valued at approximately $19,543,829.82. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Joe Allanson sold 611 shares of the company’s stock in a transaction that occurred on Friday, April 23rd. The stock was sold at an average price of $234.42, for a total value of $143,230.62. Following the completion of the sale, the chief accounting officer now owns 32,324 shares in the company, valued at approximately $7,577,392.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 371,858 shares of company stock worth $89,627,182. 4.10% of the stock is owned by corporate insiders.

A number of analysts have recently issued reports on the stock. Barclays boosted their target price on shares of salesforce.com from $276.00 to $285.00 and gave the company an “overweight” rating in a research note on Friday, May 28th. Wolfe Research initiated coverage on shares of salesforce.com in a research note on Wednesday, April 28th. They set an “outperform” rating and a $270.00 target price for the company. TheStreet raised shares of salesforce.com from a “c+” rating to a “b-” rating in a research note on Monday, April 26th. Evercore ISI upped their price objective on shares of salesforce.com from $290.00 to $300.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 30th. Finally, Mizuho upped their price objective on shares of salesforce.com from $270.00 to $290.00 and gave the stock a “buy” rating in a research note on Friday, May 28th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $277.31.

salesforce.com Profile

salesforce.com, inc. engages in the design and development of cloud-based enterprise software for customer relationship management. Its solutions include sales force automation, customer service and support, marketing automation, digital commerce, community management, collaboration, industry-specific solutions, and salesforce platform.

See Also: Retained Earnings

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

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