Nikko Asset Management Americas Inc. Purchases 167,072 Shares of salesforce.com, inc. (NYSE:CRM)

Nikko Asset Management Americas Inc. lifted its position in shares of salesforce.com, inc. (NYSE:CRM) by 33.4% in the 2nd quarter, Holdings Channel.com reports. The fund owned 667,928 shares of the CRM provider’s stock after buying an additional 167,072 shares during the quarter. salesforce.com comprises approximately 2.0% of Nikko Asset Management Americas Inc.’s investment portfolio, making the stock its 14th largest position. Nikko Asset Management Americas Inc.’s holdings in salesforce.com were worth $101,345,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Chemung Canal Trust Co. grew its position in shares of salesforce.com by 1.2% during the 2nd quarter. Chemung Canal Trust Co. now owns 44,078 shares of the CRM provider’s stock valued at $6,688,000 after acquiring an additional 505 shares during the period. Hills Bank & Trust Co. grew its position in shares of salesforce.com by 5.3% during the 2nd quarter. Hills Bank & Trust Co. now owns 9,480 shares of the CRM provider’s stock valued at $1,438,000 after acquiring an additional 473 shares during the period. Columbus Circle Investors bought a new stake in shares of salesforce.com during the 1st quarter valued at $26,017,000. MML Investors Services LLC grew its position in shares of salesforce.com by 46.5% during the 1st quarter. MML Investors Services LLC now owns 44,065 shares of the CRM provider’s stock valued at $6,979,000 after acquiring an additional 13,991 shares during the period. Finally, Oakworth Capital Inc. grew its position in shares of salesforce.com by 506.5% during the 1st quarter. Oakworth Capital Inc. now owns 467 shares of the CRM provider’s stock valued at $74,000 after acquiring an additional 390 shares during the period. 81.64% of the stock is owned by institutional investors.

CRM stock traded down $0.03 during mid-day trading on Friday, hitting $143.79. The company had a trading volume of 288,438 shares, compared to its average volume of 7,171,239. The company has a market capitalization of $110.81 billion, a P/E ratio of 99.12, a price-to-earnings-growth ratio of 5.25 and a beta of 1.27. salesforce.com, inc. has a 12-month low of $113.60 and a 12-month high of $167.56. 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 firm’s 50-day moving average price is $154.16.

salesforce.com (NYSE:CRM) last announced its quarterly earnings results on Tuesday, June 4th. The CRM provider reported $0.93 EPS for the quarter, topping the consensus estimate of $0.61 by $0.32. The business had revenue of $3.74 billion for the quarter, compared to analysts’ expectations of $3.68 billion. salesforce.com had a net margin of 8.26% and a return on equity of 8.18%. The business’s quarterly revenue was up 24.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.74 EPS. On average, research analysts forecast that salesforce.com, inc. will post 1.25 earnings per share for the current fiscal year.

CRM has been the subject of a number of recent research reports. Wedbush reissued an “outperform” rating and set a $192.00 price objective on shares of salesforce.com in a research report on Friday, May 31st. Sanford C. Bernstein reissued a “neutral” rating and set a $169.00 price objective on shares of salesforce.com in a research report on Tuesday, June 11th. Bank of America reissued a “buy” rating and set a $200.00 price objective on shares of salesforce.com in a research report on Wednesday, June 5th. Evercore ISI set a $190.00 price objective on shares of salesforce.com and gave the company a “buy” rating in a research report on Wednesday. Finally, Credit Suisse Group restated an “outperform” rating on shares of salesforce.com in a research note on Thursday, June 6th. Four investment analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $180.38.

In other salesforce.com news, General Counsel Amy E. Weaver sold 6,409 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $153.92, for a total value of $986,473.28. Following the sale, the general counsel now owns 32,650 shares in the company, valued at approximately $5,025,488. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Marc Benioff sold 10,000 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $142.49, for a total transaction of $1,424,900.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 330,337 shares of company stock worth $50,914,425. Corporate insiders own 5.50% 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.

Further Reading: What is the return on assets (ROA) ratio?

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

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