Zurcher Kantonalbank Zurich Cantonalbank Decreases Holdings in salesforce.com, inc. (NYSE:CRM)

Zurcher Kantonalbank Zurich Cantonalbank cut its stake in shares of salesforce.com, inc. (NYSE:CRM) by 6.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 180,090 shares of the CRM provider’s stock after selling 12,600 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in salesforce.com were worth $27,325,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of CRM. Avondale Wealth Management increased its stake in shares of salesforce.com by 100.0% in the 1st quarter. Avondale Wealth Management now owns 160 shares of the CRM provider’s stock worth $25,000 after purchasing an additional 80 shares in the last quarter. Citizens Financial Group Inc RI purchased a new stake in shares of salesforce.com in the 1st quarter worth $27,000. Arcadia Investment Management Corp MI increased its stake in shares of salesforce.com by 63.0% in the 1st quarter. Arcadia Investment Management Corp MI now owns 176 shares of the CRM provider’s stock worth $28,000 after purchasing an additional 68 shares in the last quarter. Avestar Capital LLC increased its stake in shares of salesforce.com by 108.7% in the 1st quarter. Avestar Capital LLC now owns 192 shares of the CRM provider’s stock worth $28,000 after purchasing an additional 100 shares in the last quarter. Finally, Brand Asset Management Group Inc. purchased a new stake in shares of salesforce.com in the 1st quarter worth $30,000. Hedge funds and other institutional investors own 81.64% of the company’s stock.

Shares of NYSE:CRM traded down $0.05 during trading on Friday, reaching $143.77. The company’s stock had a trading volume of 4,165,578 shares, compared to its average volume of 7,171,239. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.34. salesforce.com, inc. has a 12 month low of $113.60 and a 12 month high of $167.56. The company’s 50 day moving average price is $154.16. The stock has a market cap of $110.81 billion, a PE ratio of 99.15, a PEG ratio of 5.25 and a beta of 1.27.

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

In related news, insider Mark J. Hawkins sold 15,271 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $157.31, for a total value of $2,402,281.01. Following the sale, the insider now directly owns 24,375 shares of the company’s stock, valued at approximately $3,834,431.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Parker Harris sold 6,330 shares of the stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $156.39, for a total transaction of $989,948.70. Following the completion of the sale, the insider now directly owns 33,882 shares in the company, valued at $5,298,805.98. The disclosure for this sale can be found here. Insiders sold a total of 330,337 shares of company stock worth $50,914,425 over the last three months. 5.50% of the stock is currently owned by corporate insiders.

Several equities research analysts have recently commented on the company. Monness Crespi & Hardt restated a “buy” rating and issued a $200.00 price objective (up from $195.00) on shares of salesforce.com in a research note on Wednesday, June 5th. Wedbush reiterated an “outperform” rating and issued a $192.00 price target on shares of salesforce.com in a research note on Friday, May 31st. Credit Suisse Group reiterated an “outperform” rating on shares of salesforce.com in a research note on Thursday, June 6th. ValuEngine lowered salesforce.com from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, JPMorgan Chase & Co. reiterated a “buy” rating and issued a $180.00 price target on shares of salesforce.com in a research note on Monday, June 3rd. Four investment analysts have rated the stock with a hold rating, thirty-six have given a buy rating and one has given a strong buy rating to the stock. salesforce.com has a consensus rating of “Buy” and an average target price of $180.38.

About salesforce.com

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

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