Eaton Vance Management Decreases Stake in salesforce.com, inc. (NYSE:CRM)

Eaton Vance Management trimmed its position in shares of salesforce.com, inc. (NYSE:CRM) by 13.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 629,101 shares of the CRM provider’s stock after selling 98,791 shares during the quarter. Eaton Vance Management’s holdings in salesforce.com were worth $133,287,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. MBM Wealth Consultants LLC purchased a new stake in salesforce.com during the first quarter worth $25,000. Northwest Investment Counselors LLC purchased a new stake in salesforce.com during the first quarter worth $29,000. Wealthcare Capital Management LLC purchased a new stake in salesforce.com during the first quarter worth $31,000. Pacific Center for Financial Services boosted its position in 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 purchasing an additional 134 shares in the last quarter. Finally, Sage Financial Management Group Inc. purchased a new stake in salesforce.com during the first quarter worth $32,000. Institutional investors own 75.65% of the company’s stock.

In other news, insider Brent Hyder sold 25,362 shares of the stock in a transaction that occurred on Tuesday, July 6th. The stock was sold at an average price of $250.00, for a total transaction of $6,340,500.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Amy E. Weaver sold 2,036 shares of the stock in a transaction that occurred on Friday, April 23rd. The stock was sold at an average price of $234.42, for a total value of $477,279.12. Following the sale, the chief financial officer now owns 32,640 shares in the company, valued at $7,651,468.80. The disclosure for this sale can be found here. Insiders have sold a total of 371,858 shares of company stock worth $89,627,182 over the last quarter. Insiders own 4.10% of the company’s stock.

NYSE:CRM opened at $242.11 on Thursday. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.06. The business’s 50 day moving average price is $237.35. salesforce.com, inc. has a 52 week low of $184.38 and a 52 week high of $284.50. The company has a market cap of $224.19 billion, a P/E ratio of 50.65, a PEG ratio of 8.14 and a beta of 1.09.

salesforce.com (NYSE:CRM) last released its earnings results on Wednesday, May 26th. The CRM provider reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.33. The company had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $5.89 billion. salesforce.com had a return on equity of 8.02% and a net margin of 19.88%. salesforce.com’s quarterly revenue was up 22.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.70 EPS. Analysts anticipate that salesforce.com, inc. will post 1.6 earnings per share for the current fiscal year.

Several analysts have recently issued reports on the company. The Goldman Sachs Group restated a “buy” rating and issued a $320.00 price objective on shares of salesforce.com in a research report on Thursday, June 3rd. Wolfe Research assumed coverage on salesforce.com in a research report on Wednesday, April 28th. They issued an “outperform” rating and a $270.00 price objective on the stock. JPMorgan Chase & Co. set a $250.00 price objective on salesforce.com and gave the company a “buy” rating in a research report on Friday, May 28th. Evercore ISI upped their price objective on salesforce.com from $290.00 to $300.00 and gave the company an “outperform” rating in a research report on Wednesday, June 30th. Finally, Barclays upped their target price on salesforce.com from $276.00 to $285.00 and gave the company an “overweight” rating in a research note on Friday, May 28th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-eight have assigned a buy rating and one has assigned a strong buy rating to the company. salesforce.com has an average rating of “Buy” and an average price target of $277.31.

About salesforce.com

salesforce.com, inc. engages in the design and development of cloud-based enterprise software for customer relationship management. Its solutions include sales force automation, customer service and support, marketing automation, digital commerce, community management, collaboration, industry-specific solutions, and salesforce platform.

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

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