Meeder Asset Management Inc. Grows Position in salesforce.com, inc. (NYSE:CRM)

Meeder Asset Management Inc. raised its holdings in shares of salesforce.com, inc. (NYSE:CRM) by 575.3% during the 1st quarter, Holdings Channel.com reports. The firm owned 28,687 shares of the CRM provider’s stock after acquiring an additional 24,439 shares during the quarter. Meeder Asset Management Inc.’s holdings in salesforce.com were worth $6,055,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CRM. Northwest Investment Counselors LLC bought a new position in shares of salesforce.com in the first quarter valued at approximately $29,000. Pacific Center for Financial Services raised its stake in shares of salesforce.com by 1,340.0% during the fourth quarter. Pacific Center for Financial Services now owns 144 shares of the CRM provider’s stock worth $32,000 after acquiring an additional 134 shares in the last quarter. First Personal Financial Services purchased a new position in shares of salesforce.com during the fourth quarter worth approximately $32,000. Larson Financial Group LLC raised its stake in shares of salesforce.com by 93.4% during the fourth quarter. Larson Financial Group LLC now owns 147 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 71 shares in the last quarter. Finally, Flagship Private Wealth LLC purchased a new position in shares of salesforce.com during the fourth quarter worth approximately $33,000. 80.20% of the stock is currently owned by institutional investors and hedge funds.

In related news, CAO Joe Allanson sold 605 shares of the business’s stock in a transaction dated Monday, April 26th. The stock was sold at an average price of $234.04, for a total value of $141,594.20. Following the completion of the transaction, the chief accounting officer now owns 31,108 shares of the company’s stock, valued at $7,280,516.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Brent Hyder sold 1,189 shares of the business’s stock in a transaction dated Monday, April 26th. The stock was sold at an average price of $234.04, for a total value of $278,273.56. Following the sale, the insider now owns 1,510 shares in the company, valued at $353,400.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 161,736 shares of company stock valued at $36,924,076. 4.40% of the stock is owned by company insiders.

CRM has been the topic of a number of research reports. Bank of America restated a “buy” rating and set a $300.00 target price on shares of salesforce.com in a report on Monday, February 22nd. Zacks Investment Research cut shares of salesforce.com from a “hold” rating to a “sell” rating and set a $232.00 target price for the company. in a report on Monday, March 1st. Wolfe Research initiated coverage on shares of salesforce.com in a report on Wednesday, April 28th. They issued an “outperform” rating and a $270.00 target price for the company. The Goldman Sachs Group raised shares of salesforce.com from a “buy” rating to a “conviction-buy” rating and set a $315.00 price objective on the stock in a research report on Monday, March 8th. Finally, TheStreet raised shares of salesforce.com from a “c+” rating to a “b-” rating in a report on Monday, April 26th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-six have assigned a buy rating and three have assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $269.06.

CRM stock traded down $7.53 during mid-day trading on Tuesday, hitting $216.23. The stock had a trading volume of 147,784 shares, compared to its average volume of 6,852,737. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.07. salesforce.com, inc. has a 1-year low of $155.08 and a 1-year high of $284.50. The company has a fifty day moving average of $222.59 and a 200 day moving average of $230.51. The stock has a market capitalization of $199.15 billion, a price-to-earnings ratio of 57.01, a PEG ratio of 5.42 and a beta of 1.17.

salesforce.com (NYSE:CRM) last announced its earnings results on Thursday, February 25th. The CRM provider reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.74. The firm had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.68 billion. salesforce.com had a return on equity of 6.63% and a net margin of 17.53%. As a group, sell-side analysts expect that salesforce.com, inc. will post 2.81 earnings per share for the current fiscal year.

salesforce.com Company Profile

salesforce.com, inc. develops enterprise cloud computing solutions with a focus on customer relationship management worldwide. 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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