IBM Retirement Fund Boosts Stake in salesforce.com, inc. (NYSE:CRM)

IBM Retirement Fund lifted its holdings in salesforce.com, inc. (NYSE:CRM) by 9.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,959 shares of the CRM provider’s stock after purchasing an additional 1,154 shares during the quarter. IBM Retirement Fund’s holdings in salesforce.com were worth $2,072,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of CRM. Nuveen Asset Management LLC raised its stake in shares of salesforce.com by 36,379.9% in the second quarter. Nuveen Asset Management LLC now owns 12,648,680 shares of the CRM provider’s stock worth $1,919,183,000 after purchasing an additional 12,614,007 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in salesforce.com by 13.5% during the second quarter. Price T Rowe Associates Inc. MD now owns 33,910,865 shares of the CRM provider’s stock valued at $5,145,296,000 after acquiring an additional 4,046,077 shares during the last quarter. Viking Global Investors LP purchased a new stake in salesforce.com during the second quarter valued at $443,415,000. BlackRock Inc. increased its position in salesforce.com by 4.7% during the second quarter. BlackRock Inc. now owns 56,165,345 shares of the CRM provider’s stock valued at $8,521,967,000 after acquiring an additional 2,499,996 shares during the last quarter. Finally, Jennison Associates LLC increased its position in salesforce.com by 8.4% during the second quarter. Jennison Associates LLC now owns 21,575,462 shares of the CRM provider’s stock valued at $3,273,645,000 after acquiring an additional 1,673,392 shares during the last quarter. Hedge funds and other institutional investors own 74.11% of the company’s stock.

A number of analysts recently commented on CRM shares. Nomura upped their price objective on salesforce.com from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Monness Crespi & Hardt upped their price objective on salesforce.com from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. JMP Securities upped their price objective on salesforce.com from $178.00 to $191.00 and gave the company a “market outperform” rating in a research report on Friday, August 23rd. Evercore ISI reiterated a “buy” rating and set a $190.00 price objective on shares of salesforce.com in a research report on Tuesday. Finally, OTR Global upgraded salesforce.com to a “positive” rating in a research report on Thursday, August 15th. Three analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $184.74.

CRM traded down $0.31 during midday trading on Wednesday, reaching $162.55. The company had a trading volume of 345,578 shares, compared to its average volume of 5,736,967. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.31. The business has a 50-day moving average of $151.27 and a two-hundred day moving average of $153.22. The company has a market cap of $141.29 billion, a P/E ratio of 112.22, a P/E/G ratio of 6.90 and a beta of 1.22. 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 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 business had revenue of $4 billion during the quarter, compared to analysts’ expectations of $3.96 billion. salesforce.com had a return on equity of 7.26% and a net margin of 6.45%. The business’s quarterly revenue was up 21.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.71 earnings per share. On average, equities research analysts predict that salesforce.com, inc. will post 1.25 EPS for the current year.

In other news, insider Parker Harris sold 620 shares of the company’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $163.00, for a total value of $101,060.00. Following the completion of the transaction, the insider now owns 32,034 shares of the company’s stock, valued at $5,221,542. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Alexandre Dayon sold 1,452 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $155.57, for a total value of $225,887.64. Following the completion of the transaction, the insider now directly owns 50,155 shares of the company’s stock, valued at approximately $7,802,613.35. The disclosure for this sale can be found here. In the last 90 days, insiders sold 261,026 shares of company stock valued at $39,493,487. Company insiders own 5.50% of the company’s stock.

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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