Independent Advisor Alliance decreased its position in salesforce.com, inc. (NYSE:CRM) by 33.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,065 shares of the CRM provider’s stock after selling 3,067 shares during the quarter. Independent Advisor Alliance’s holdings in salesforce.com were worth $961,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of CRM. Flinton Capital Management LLC grew its position in shares of salesforce.com by 17.5% during the fourth quarter. Flinton Capital Management LLC now owns 73,056 shares of the CRM provider’s stock worth $10,006,000 after purchasing an additional 10,864 shares in the last quarter. Piedmont Investment Advisors Inc. boosted its stake in salesforce.com by 5.7% during the fourth quarter. Piedmont Investment Advisors Inc. now owns 93,507 shares of the CRM provider’s stock valued at $12,808,000 after buying an additional 5,063 shares during the last quarter. Heritage Investors Management Corp boosted its stake in 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 buying an additional 3,143 shares during the last quarter. Putnam FL Investment Management Co. boosted its stake in salesforce.com by 0.5% during the fourth quarter. Putnam FL Investment Management Co. now owns 21,392 shares of the CRM provider’s stock valued at $2,930,000 after buying an additional 97 shares during the last quarter. Finally, Redpoint Investment Management Pty Ltd boosted its stake in salesforce.com by 10.7% during the fourth quarter. Redpoint Investment Management Pty Ltd now owns 55,648 shares of the CRM provider’s stock valued at $7,622,000 after buying an additional 5,398 shares during the last quarter. 82.14% of the stock is currently owned by institutional investors.
A number of equities analysts recently commented on the company. ValuEngine lowered salesforce.com from a “buy” rating to a “hold” rating in a research note on Wednesday. SunTrust Banks increased their price target on salesforce.com to $189.00 and gave the company a “buy” rating in a research note on Tuesday. Barclays reissued a “buy” rating and set a $182.00 price target on shares of salesforce.com in a research note on Tuesday. Sanford C. Bernstein reissued a “neutral” rating and set a $169.00 price target on shares of salesforce.com in a research note on Tuesday. Finally, Royal Bank of Canada set a $183.00 price target on salesforce.com and gave the company a “buy” rating in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating, thirty-six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $180.03.
In other salesforce.com news, Director Craig Conway sold 200 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $161.00, for a total value of $32,200.00. Following the completion of the transaction, the director now owns 9,310 shares in the company, valued at approximately $1,498,910. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Mark J. Hawkins sold 15,271 shares of the company’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $165.08, for a total transaction of $2,520,936.68. Following the completion of the transaction, the insider now owns 25,254 shares of the company’s stock, valued at approximately $4,168,930.32. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 426,279 shares of company stock valued at $67,663,581. Insiders own 5.50% of the company’s stock.
Shares of NYSE CRM traded down $1.33 during trading on Friday, hitting $150.01. 5,971,788 shares of the company traded hands, compared to its average volume of 5,616,404. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $117.39 billion, a PE ratio of 103.46, a P/E/G ratio of 5.21 and a beta of 1.39. salesforce.com, inc. has a 1 year low of $113.60 and a 1 year high of $167.56.
salesforce.com (NYSE:CRM) last issued its quarterly earnings data on Tuesday, June 4th. The CRM provider reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.32. The firm had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.68 billion. salesforce.com had a net margin of 8.26% and a return on equity of 8.18%. The firm’s revenue was up 24.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.74 EPS. Equities research analysts expect that salesforce.com, inc. will post 1.34 EPS for the current fiscal year.
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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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