Azimuth Capital Management LLC Reduces Stake in salesforce.com, inc. (CRM)

Azimuth Capital Management LLC cut its stake in salesforce.com, inc. (NYSE:CRM) by 0.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 112,990 shares of the CRM provider’s stock after selling 540 shares during the quarter. salesforce.com makes up 1.0% of Azimuth Capital Management LLC’s portfolio, making the stock its 21st biggest holding. Azimuth Capital Management LLC’s holdings in salesforce.com were worth $13,141,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Waratah Capital Advisors Ltd. acquired a new position in salesforce.com during the fourth quarter worth $710,000. Rehmann Capital Advisory Group acquired a new position in salesforce.com during the fourth quarter worth $221,000. Zeke Capital Advisors LLC increased its position in salesforce.com by 27.6% during the fourth quarter. Zeke Capital Advisors LLC now owns 15,481 shares of the CRM provider’s stock worth $1,583,000 after buying an additional 3,353 shares during the last quarter. All Terrain Financial Advisors LLC acquired a new position in salesforce.com during the fourth quarter worth $256,000. Finally, UBS Asset Management Americas Inc. increased its position in salesforce.com by 15.5% during the fourth quarter. UBS Asset Management Americas Inc. now owns 3,285,013 shares of the CRM provider’s stock worth $335,827,000 after buying an additional 441,682 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

salesforce.com opened at $129.33 on Friday, according to MarketBeat. The company has a market cap of $92.78 billion, a PE ratio of 287.40, a PEG ratio of 5.36 and a beta of 1.24. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.92 and a quick ratio of 0.92. salesforce.com, inc. has a 1-year low of $83.55 and a 1-year high of $132.55.

salesforce.com (NYSE:CRM) last posted its quarterly earnings data on Tuesday, May 29th. The CRM provider reported $0.74 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.28. The company had revenue of $3.01 billion during the quarter, compared to analyst estimates of $2.94 billion. salesforce.com had a net margin of 4.33% and a return on equity of 7.69%. The company’s revenue was up 25.4% on a year-over-year basis. During the same quarter last year, the business posted $0.28 earnings per share. equities analysts predict that salesforce.com, inc. will post 0.98 earnings per share for the current year.

Several research firms have commented on CRM. Deutsche Bank increased their target price on shares of salesforce.com from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday. SunTrust Banks raised their price target on salesforce.com from $133.00 to $146.00 and gave the company a “buy” rating in a research report on Wednesday. Roth Capital raised their price target on salesforce.com from $112.00 to $131.00 and gave the company a “neutral” rating in a research report on Thursday. Societe Generale reaffirmed a “buy” rating and issued a $135.00 price target on shares of salesforce.com in a research report on Thursday, May 24th. Finally, Bank of America reaffirmed a “buy” rating and issued a $161.00 price target on shares of salesforce.com in a research report on Monday, May 21st. Five investment analysts have rated the stock with a hold rating, forty-seven have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $133.75.

In other news, Director Craig Conway sold 250 shares of the firm’s stock in a transaction that occurred on Monday, April 16th. The shares were sold at an average price of $120.83, for a total transaction of $30,207.50. Following the completion of the sale, the director now owns 9,036 shares of the company’s stock, valued at $1,091,819.88. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Alexandre Dayon sold 20,855 shares of the firm’s stock in a transaction that occurred on Friday, May 25th. The stock was sold at an average price of $128.10, for a total transaction of $2,671,525.50. Following the sale, the insider now directly owns 60,913 shares of the company’s stock, valued at approximately $7,802,955.30. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 18,000 shares of company stock valued at $2,301,780 and have sold 518,281 shares valued at $63,975,378. Company insiders own 6.00% of the company’s stock.

salesforce.com Company Profile

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.

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

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