Cypress Capital Group Has $5.72 Million Stock Position in salesforce.com, inc. (NYSE:CRM)

Cypress Capital Group reduced its position in salesforce.com, inc. (NYSE:CRM) by 2.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 38,516 shares of the CRM provider’s stock after selling 874 shares during the period. salesforce.com comprises 1.1% of Cypress Capital Group’s holdings, making the stock its 24th largest position. Cypress Capital Group’s holdings in salesforce.com were worth $5,717,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of CRM. Buckingham Capital Management Inc. raised its holdings in salesforce.com by 6.2% in the 1st quarter. Buckingham Capital Management Inc. now owns 34,547 shares of the CRM provider’s stock valued at $5,471,000 after acquiring an additional 2,028 shares during the period. Fiera Capital Corp raised its holdings in salesforce.com by 341.3% in the 1st quarter. Fiera Capital Corp now owns 7,370 shares of the CRM provider’s stock valued at $1,167,000 after acquiring an additional 5,700 shares during the period. Private Advisor Group LLC raised its holdings in salesforce.com by 95.1% in the 1st quarter. Private Advisor Group LLC now owns 26,542 shares of the CRM provider’s stock valued at $4,204,000 after acquiring an additional 12,941 shares during the period. Northstar Capital Management LLC raised its holdings in salesforce.com by 2.3% in the 1st quarter. Northstar Capital Management LLC now owns 23,924 shares of the CRM provider’s stock valued at $3,789,000 after acquiring an additional 529 shares during the period. Finally, Sheets Smith Wealth Management raised its holdings in salesforce.com by 321.1% in the 1st quarter. Sheets Smith Wealth Management now owns 11,390 shares of the CRM provider’s stock valued at $1,804,000 after acquiring an additional 8,685 shares during the period. Institutional investors and hedge funds own 73.65% of the company’s stock.

In related news, insider Amy E. Weaver sold 5,627 shares of salesforce.com stock in a transaction on Monday, July 15th. The shares were sold at an average price of $158.85, for a total transaction of $893,848.95. Following the completion of the transaction, the insider now owns 32,675 shares of the company’s stock, valued at $5,190,423.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Marc Benioff sold 5,000 shares of salesforce.com stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $147.19, for a total transaction of $735,950.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 282,339 shares of company stock worth $42,770,272. 5.50% of the stock is owned by company insiders.

Several research analysts have weighed in on the stock. Credit Suisse Group set a $175.00 price target on shares of salesforce.com and gave the company a “buy” rating in a report on Wednesday, August 28th. Evercore ISI set a $190.00 target price on shares of salesforce.com and gave the stock a “buy” rating in a report on Wednesday, August 7th. Monness Crespi & Hardt raised their target price on shares of salesforce.com from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Wedbush reaffirmed an “outperform” rating and set a $184.00 target price (down from $192.00) on shares of salesforce.com in a report on Tuesday, August 20th. Finally, Royal Bank of Canada raised their target price on shares of salesforce.com from $181.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. They noted that the move was a valuation call. Three analysts have rated the stock with a hold rating, thirty-six have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $184.31.

Shares of NYSE:CRM traded down $0.64 during mid-day trading on Thursday, reaching $146.41. 2,612,839 shares of the company’s stock were exchanged, compared to its average volume of 4,351,642. The firm has a market capitalization of $130.50 billion, a price-to-earnings ratio of 100.97, a PEG ratio of 5.68 and a beta of 1.23. The business’s fifty day moving average price is $151.24 and its 200-day moving average price is $154.27. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.97 and a current ratio of 0.97. salesforce.com, inc. has a twelve month low of $113.60 and a twelve month high of $167.56.

salesforce.com (NYSE:CRM) last issued its quarterly earnings results on Thursday, August 22nd. The CRM provider reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.57. The company had revenue of $4 billion for the quarter, compared to analyst estimates of $3.96 billion. salesforce.com had a net margin of 6.45% and a return on equity of 7.26%. salesforce.com’s revenue was up 21.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.71 earnings per share. Analysts predict that salesforce.com, inc. will post 1.23 EPS for the current fiscal year.

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.

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

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